Manage my account

First steps

• How do I make the opening deposit for an account I’ve just applied for?

  To make the initial deposit in order to open an account, you can:

  1. Send us a cheque, drawn on another UK bank or building society account in your name, and made payable to “Investec Bank plc for the account of [your name or the name of your organisation]”. Send the cheque to:

  Investec Bank plc
  Operations Dept
  Correspondence
  FREEPOST LON9401
  LONDON
  EC2B 0ZZ

  2. Make a deposit by electronic transfer. In this case the payment must come from another account that is held in your name. The details you’ll need to send the payment are as follows:

  Sort code 40-64-34
  Account number 10010002
  Bank Investec Bank plc
  Account name Investec Bank plc
  Reference Your name and the reference number we provided to you on this acknowledgement email

• How do I get my salary paid in?

  To get your salary paid directly into your account, all you need to do is to complete our Salary Transfer form and pass it to your payroll or HR department. Call us to request this form today.

• How am I notified of my Investec card PIN?

  Activate your card at investec.co.uk/activate or in the Investec App. We will text your PIN number to your registered mobile as soon as you activate your card.

Tax

• Is the interest I earn taxed?

  We pay interest on accounts held with us without the deduction of tax. This does not mean interest is tax free income and your individual tax treatment depends on your specific circumstances. At the end of the tax year we will send you an interest certificate and it is your responsibility to settle the tax owed with HMRC and any other overseas tax authorities. We cannot provide specific tax advice and if you have any questions, you should seek professional tax advice.

  Alternatively, further guidance can be found on the HMRC website www.hmrc.gov.uk 
  

• Will I receive a tax certificate on interest earned?

  At the end of the tax year you will receive an interest certificate for each account you hold with us.
  

   

• Why do you require my tax information as part of the account opening process?

  Financial institutions in the UK are required by law to collect tax information on their clients and in order for us to comply, you will be asked to provide your details as part of the account opening process.
  

• To whom will Investec disclosure my interest?

  In compliance with UK tax regulations, we are required to report interest you earn on your accounts to HMRC on an annual basis. HMRC may then share this information with overseas tax authorities under the international information sharing agreements that the UK has entered into (eg FATCA and CRS). Further guidance can be found on our website.

• Are there any tax implications of holding an Investec UK bank account?

  Interest you earn maybe subject to tax in the UK as well as any other counties that you are tax resident or file tax returns.  In addition, there may be other tax implications of holding an Investec UK bank account.  We cannot provide specific tax advice and if you have any further questions, you should seek professional tax advice

Cheque book and paying-in book

• Cheque book and paying-in book

  New cheque books and paying-in books can be requested by calling us on 0330 123 1966 from within the UK or +44(0)207 597 4044 from abroad.

• How long do cheques take to clear?

  In the case of cheques drawn in sterling, the cheque will go through the cheque clearing cycle as follows:

  Working Day 0 (example: Monday)
  This is the day we receive the cheque.

  Beginning of Working Day 2 (example: Wednesday)
  The amount paid in starts earning interest.

  Beginning of Working Day 4 (example: Friday)
  The amount paid in is available to be withdrawn.

  End of Working Day 6 (example: end of the following Tuesday)
  Until the end of Working Day 6, the cheque can still be returned unpaid, which means we can deduct the value of the cheque from your account. You should bear this risk in mind when deciding whether to withdraw funds before the end of Working Day 6. After the end of Working Day 6, we cannot take the value of the cheque out of your account without your consent, except in the case of fraud.

  If you send us a cheque before we have opened your account, Working Day 0 in the above table will be the day we open your account and not the day we receive the cheque.

  If you want to withdraw the value of the cheque on the fourth working day, but are worried that the cheque might then bounce, you can ask us to follow a process called 'special presentation'. This process involves us checking with the paying bank that the payer of the cheque has the funds to pay the cheque. If you want to use 'special presentation', you must let us know this when you give us the cheque for clearing. We charge for special presentation. See our charges sheet for details of our current charge for this service.

• How do I pay in a cheque in a different currency?

  When paying in a cheque in a different currency please bear in mind that there is no cross-border cheque clearing system for cheques drawn in another currency. This means that if you give us a cheque in another currency for clearing, we send the cheque to the payer’s overseas bank for collection. We will only credit the value of the cheque to your account once we have actually received payment from the overseas bank. Depending on the currency and the bank involved, this process can take several weeks. After we receive your cheque and we have contacted the paying bank, we should be able to give you an estimate of how long we will have to wait for payment. We charge for collection of cheques in another currency. See our charges sheet for details of our current charges.
  Please also note that we do not allow cheque payments in all currencies - please call us for more information on which currencies we allow.

• How do I pay a cheque in to my account?

  There are three ways you can make a deposit by cheque into your Investec account.

  1. With a cheque written on another UK bank or building society.
     Write your account number on the back of your cheque(s) and send to us with a completed paying-in slip in the brown reply-paid envelope provided (or another envelope provided by us for this purpose).
  2. With a cheque written on another Investec Bank plc account.
     Write your account number on the back of the cheque(s) and send to us with a completed paying-in slip in the white Freepost envelope provided (or another envelope provided by us for this purpose).
  3. With a cheque written in a foreign currency we accept payments in.
     Write your account number on the back of the cheque(s) and send to us with a completed paying-in slip in the white Freepost envelope provided (or another envelope provided by us for this purpose).

  Note: If you are paying in by cheque using another method or in the wrong envelope, it may take longer to reach our cheque clearing team and this may delay the clearing of your cheque.

• How do I cancel a cheque?

  You can cancel a cheque by calling us and giving us full details of the cheque. You must also confirm your instruction to us in writing. You cannot stop a cheque after we receive it.

• How do I order a cheque book?

  We will automatically send you a new cheque book when you are nearing the end of your current cheque book. However, if you do need to order a new cheque book simply complete our stationery ordering form or call us.

Direct debits and standing orders

• How do I set up direct debits and standing orders?

  You can set up, cancel and manage your standing orders in Investec Online.

  You’ll need to provide the following information when setting up a standing order:

  • Account holder’s name
  • Sort code
  • Account number
  • Initial and regular amount
  • Frequency
  • You can also supply an end date for payments, if applicable.

  With direct debits, the originator (e.g. your electricity company) sets up the direct debit and then passes the details to us. You’ll then be able to view your direct debits online.

• Standing orders

  A standing order is an instruction you give to us to make payments on a regular basis from your account to a specified UK bank or building society account.

  You can set up a standing order by sending us a paper form, calling us, or in Investec Online Banking. We will debit your account and transfer the funds to the bank or building society account on the date you specify.

  A standing order can be cancelled at any time before 5.30pm on the working day before it is due. You can cancel the standing order outright using online banking. You can cancel the standing order outright, or a single standing order payment, by calling us. You won’t be able to cancel a standing order on the day that it is due to leave your account.

  You can also cancel a standing order by writing to us.

• Future-payments

  A future payment can be cancelled by writing to us, by using online banking (if the payment was created in online banking) or by calling us, at any time before 5.30pm on the working day before the payment is due to leave your account. You won’t be able to cancel on the day of the payment.

• Notice withdrawal instruction

  You can cancel a notice withdrawal instruction at any time before 4.30pm on the working day before the day on which the payment is due to be made by calling us.

• IBAN number

  Your IBAN number is shown on your statement. We can also provide it to you over the phone if you call us.

Text messages

• How do I stop receiving text message notifications from Investec?

  If you no longer wish to receive text message notifications from us, for either activities in Investec Online and telephone banking, or for transactions made using your Investec card, please call us and we will update our records.

• Can I reply to a text message notification?

  Please do not reply to the text message notification you receive from us, as we will not receive the reply. If you would like to contact us about any aspect of your text message notification, please call us.

• What should I do if my mobile number has changed?

  If you have changed your mobile number, please call us and we will update our records. You can also change your contact details in Investec online.

• What text message notifications do joint account holders receive?

  If you are a joint account holder, you will not receive a text message notification for an activity made by the other account holder in the joint account.

• Why am I receiving text message notifications from Investec?

  One of the ways we help protect you against fraud is to send a text message notification to your mobile phone whenever certain activities are carried out on your account.

  You will receive a text message from us whenever the following activities are carried out on your account:

  • A payment or withdrawal of cash from an ATM using your Investec card;
  • A new payment, transfer or standing order instruction is set up on your account in online banking or telephone banking
  • An amendment is made to an existing payment instruction in online banking or telephone banking 
  • A new payee is created or an amendment is made to an existing payee in online banking
  • An application is made for a new account in your name in online banking
  • Any changes are made to security information in online banking.

Manage my account

• How do I update my personal contact details?

  Updating your records with the bank (such as the email address, mobile number or postal address that we hold for you)

  To update any of the personal contact details we hold for you, such as your email address, mobile number or postal address, you can call us or write to us.

  Send your correspondence to us at:

  Investec Private Banking
  The Banking Team
  30 Gresham Street
  London
  EC2V 7PG

• Updating your Investec Online details

  Online banking also holds an email address and mobile number for you, and for any online users with access to your online banking. You can update your email address and mobile number, and the email address and mobile number of anyone authorised to use your online banking, in Investec Online.

  Online users are also able to change their own details. However, these details are only changed for online banking purposes and are not changed in our bank records.

• How do I find out my account number?

  You can find your account number on your statement or when you access your account in Investec Online.

• Can I give Investec instructions for my account by post?

  You can send us written instructions for the account by post. To make a notice withdrawal by post, download the notice withdrawal form and send the completed form to our postal address.

   

  Our postal address is:

  Investec Private Banking
  The Banking Team
  30 Gresham Street
  London
  EC2V 7PG
  United Kingdom

• Where can I find my IBAN number?

  Your IBAN number is shown on your statement. We can also provide it to you if you call us.

• Can I give Investec instructions for my account by email?

  At the current time we are not able to accept instructions for your account by email or secure messaging.

• How do I find out what exchange rate was applied to my transaction?

  When you make a currency transaction we send you a transaction advice note by post. This includes the exchange rate applied to the transaction and the charge payable, along with the amount deposited or withdrawn after the currency conversion. We send this to you on the working day the conversion is carried out. This information will also appear on your regular statement.
  

Statements
 

Your statements are available in Investec Online. Once a month you will receive an email notifying you when your new statement is available to view.

If you ask to receive paper statements, we will post them to you.

If you need an interim statement, call us and we can either make this available to you online or post it to you. You can select the date of your monthly statement when you open your account - this will be always be the date of your statements.

• Can I get a printed version of my statement?

  If you do not receive paper statements and would like us to send you a specific statement or if you would like to receive printed versions of your statements each month, please call us.

• How do I access online statements?

  Your statement is available in Investec Online. We will send you an email to your registered email address as soon as it is ready to be viewed.

• Can I get interim statements?

  If you need an interim statement, call us and we can make this available to you online.

• How long will my statements be stored online for?

  Statements will be stored in online banking for 7 years.

• What should I do if I don't recognise an activity in a text message?

  If you receive a text message from us about an activity that you don't recognise, please call us immediately. Please do not reply to the text message.

Joint accounts

• How do I remove a person from my joint account?

  For personal joint accounts, you can only remove an account holder from a joint account if they agree to this. We will ask you all to sign a written instruction confirming this.

  If you are a business or a trust client, you can remove an account holder if we receive written instructions from all account holders confirming this. Alternatively, you must give us other legal evidence acceptable to us which sets out the removal of the account holder. This could be a death certificate, for example, or a deed of resignation or removal of a trustee.

  We will close the existing joint account, and reopen a new account for the remaining account holders. This new account will have a new account number. If you have a card on your existing joint account, this will be reissued with the new account number.

  Please note that any instructions we have received from the person to be removed, before we are informed of your intention to remove them, will remain valid.

  More information from the British Bankers' Association

  The British Bankers' Association have produced a leaflet called 'You and your joint account', which provides detail on some of the issues and questions around joint accounts. It can be downloaded from the BBA's website: www.bba.org.uk/jointaccount

• How do I set up a joint account?

  To set up a joint account, you must add both parties to your application form. You must also supply proof of identity and proof of address for both parties.

  For applicants new to Investec, we may require one of the following certified or original documents for each UK resident applicant in order to confirm identity (for non-UK residents you will need to send in two of the following): passport, driving licence, identity card, UK residency permit, Inland Revenue tax notification.

  We may also require two of the following certified documents confirming your current residential address: bank or building society statement dated in the last three months, utility bill dated in the last three months, mortgage or credit card statement dated in the last three months, driving licence, council tax/income tax bill dated in the last 12 months.

• How do I add a new person to a joint account?

  If your account is already a joint account and you wish to add a new account holder to the account, the new account-holder and existing account-holders will need to confirm this to us in writing. The new account holder will also need to agree to the terms of the agreement, and we must complete our standard checks and procedures. The new account holder cannot use the account or give us instructions until the above steps are all completed.

• Who is responsible for any debt on a joint account?

  If a debt arises on your joint account, your liability for the debt is considered to be 'joint and several'. This is a legal term which means that any account holder may be asked to pay the full amount of any debt arising on the account, and not just a proportion. 

• What happens if joint account holders fall out?

  If we become aware that there is a dispute between joint account holders, we can suspend the account until we believe the dispute has been resolved. In practice this means that we will not let any of you operate the account until either you give us a joint written instruction, or a court tells us what to do.