Currency access

Key product information summary box

• What is the interest rate?

  Sterling (GBP)
  Gross p.a.^: 3.69%
  AER*: 3.75%
   

  South African rand (ZAR)
  Gross p.a.^: 3.20%
  AER*: 3.25%
   

  US dollar (USD)
  Gross p.a.^: 2.96%
  AER*: 3.04%
   

  Canadian dollar (CAD)
  Gross p.a.^: 0.10%
  AER*: 0.10%
  Rate reducing to 0.00% gross/AER on 21 October 2024
   

  New Zealand dollar (NZD)
  Gross p.a.^: 0.10%
  AER*: 0.10%
  Rate reducing to 0.00% gross/AER on 21 October 2024
   

  Australian dollar (AUD)
  Gross p.a.^: 0.10%
  AER*: 0.10%
  Rate reducing to 0.00% gross/AER on 21 October 2024
   

  Euro (EUR)
  Gross p.a.^: 1.95%
  AER*: 2.00%

  
  Non interest bearing currencies:
  

  Japanese yen (JPY)
  Swedish krona (SEK)
  Swiss franc (CHF)
  Danish krona (DKK)
  Singapore dollar (SGD)
  Israeli shekel (ISL)
  Hong Kong dollar (HKD)
  Norwegian krona (NOK)

  Interest, where applicable, is calculated daily and paid on a monthly basis.
  

• Can Investec change the interest rate?

  Investec can change the interest rate.

  We will give you notice of any change to the interest rate in accordance with section 9 of the Investec Bank plc Banking Relationship Agreement which can be found at Investec.com/termsandconditions.

  We will tell you by email if and when we change the interest rate.
  

• What would the estimated balance be after 12 months based on a £1,000 deposit?

  At current interest rates the estimated balance of a £1,000 deposit would be £1037.51 after 12 months (non leap year). Illustrative examples of other currencies shown below:
   
  Sterling (GBP)
  Initial Deposit: 1000 
  Estimated Balance (Gross p.a.^): 1037.51 GBP
  
  South African rand (ZAR)
  Initial Deposit: 1000 ZAR
  Estimated Balance (Gross p.a.^): 1032.50 ZAR
  
  US dollar (USD)
  Initial Deposit: 1000 USD
  Estimated Balance (Gross p.a.^): 1030.00 USD
  

  Euro (EUR)
  Initial Deposit: 1000 EUR
  Estimated Balance (Gross p.a.^): 1019.94 EUR

  These examples are illustrative only and are based on the assumption that the initial deposit does not change throughout the period, there are no changes to the rate and interest is paid back into the Currency Access Account on a monthly basis.
  

• How do I open and manage my account?

  This account can be opened and managed via Investec Online or over the telephone.

  No minimum initial deposit requirement.
  

  There is no maximum balance limit. We may, however, decline to accept your application/additional deposits to avoid excessive exposure to a single client if we consider the total value of deposits you hold with us exceeds a limit we consider reasonable.
  

• Can I withdraw money?

  Funds can be withdrawn without giving notice by telephone or via Investec Online.
  

• Additional information

  Direct debits and standing orders cannot be set up on this account.

  Where applicable, interest will be paid without tax being deducted.

  Your tax treatment of the interest receipt will depend on your individual circumstances and if you have any specific tax questions, you should seek professional tax advice. Alternatively, further guidance can be found on the HMRC website.

  Please note that your tax treatment may be subject to change in the future.