I’ve been with Investec since I qualified as a Chartered Accountant in 2002. Recent experiences with a competing private bank have made me appreciate anew how awesome Investec is and feel a tad guilty for perhaps taking them for granted.

So here’s my reasons for why Investec is the best private bank in SA:

1. No hidden fees. They tell you straight what it will cost. Some private banks are quite happy to hit you with invisible charges, relying on fine-print for protection.
2. They have a simple online banking site. No need for endless passwords and SMS’s and rage-inducing “sorry, wrong PIN” messages.
3. They are fast. You can do everything you want online. The few things you require a private banker for are handled with slick efficiency.
4. You can access the Premier Lounge at airports for free, as many times as you like. You can also access SAA lounge even if you have a Mango ticket. The SAA lounge has giant jars of jelly beans, marshmallows and Whispers. It is awesome.

I think Investec’s secret is they combine great people with a great product. Its no good having the most competent and friendly staff in the world if the product is fundamentally not user-friendly and the pricing is dishonest.