2 ways to close your Investec bank account

Investec is a well-reputed organization in the South African financial landscape, offering a comprehensive suite of banking and wealth management services. Founded in 1974 as a Johannesburg-based leasing and financing company, the company steadily grew through both strategic and organic expansions. One of the key milestones of the company was to obtain a banking license in 1980 and then get listed on the Johannesburg Stock Exchange (JSE) in 1986. Today, Investec boasts a multi-national structure, ultimately trading on both the JSE and the London Stock Exchange.

Investec caters to a broad client base, providing not only personal and private banking products and services but also business banking solutions. So, whether you are seeking wealth management advice, investment opportunities, or traditional banking services, the company has something to offer for everyone. However, Investec is most notably recognized for its investment banking, wealth management, and corporate and business banking services. And with a comprehensive branch network throughout South Africa, it is no wonder that the institution is on a growth spree.

If you have been a loyal customer of Investec South Africa for many years and now want to end your relationship with the organization, be it for personal reasons or business motives, our thorough guide will help you learn all there is to know before initiating the account closure process.

2 Ways to Close Your Account

Investec South Africa states that the main account holder always has the option to settle the agreement and close his or her main account and/or the guaranteed account at any time by either contacting the client’s banker or the Investec Client Support Centre, who will assist with the settlement and closure process.

Additionally, when closing a bank account by an individual (otherwise known as the ‘account holder’), the account holder will also have to pay any unpaid balance present on the account at that date (also known as the ‘settlement date’) as well as all unpaid interest and other fees or charges payable to Investec.

To start the account closure process, be sure to follow the suggested processes mentioned below.

Closing Account Through Client Support Centre

1. Start by first giving a call to the Investec customer support department at either 0860 110 161 or +27(11) 286-9663. Phone lines are open 24×7.
2. Navigate through the IVR (Interactive Voice Response) system and select the designated path to talk to a customer care executive.
3. Once an agent connects to your call, provide your name, bank account number or customer ID, and your account registered phone number and email address.
4. The customer care representative will first retrieve your account details, and once that is completed, proceed to state that you want to close your bank account. Ensure that you state your reason for closure and provide any additional details that might be asked by the customer care agent.
5. After providing all the necessary information, the customer care representative will let you know of any additional procedures that you need to follow. Also, make sure that there are no outstanding charges or pending transactions, and if there is a remaining balance, you will be recommended to withdraw it to another account (via direct deposit or crossed cheque).

Once you complete all the required formalities, your bank account will be successfully closed.

Closing Account at Nearest Investec Office

1. Before you can visit an Investec office, you need to find one near you. To do that, visit here.
2. Select your preferred region in South Africa, and the list of offices present in that region will be showcased instantly with their respective addresses and phone numbers.
3. Head over to your desired Investec office location and talk to a customer relations officer to help you close your bank account. Ensure you carry your identification and bank documents, such as your government-issued ID, bank passbook, debit/credit cards, cheque book, etc. Also, for joint account holders, both account holders must be present.
4. Once your identification process is complete, you will be asked to fill out an account closure form. Ensure you provide accurate information when filling out the form, state the reason for closure, and provide all the required supporting documents.
5. After that, inquire about outstanding fees or minimum balance requirements that might prevent immediate closure and settle any dues to avoid delays. Also, if you have any remaining balance in your account, you need to decide how you are going to withdraw the amount to another bank account.

Once you complete the form submission process as well as the formalities, your bank account will be closed in due time.

How to Register a Complaint

If you want to share your negative feedback or experience regarding any banking products or services related to Investec, you can do so by filling out the official feedback form here. On the landing page, scroll down until you reach the ‘Give Feedback’ section, and then proceed to click on it. After that, fill out the web form and then submit it.

Alternatively, you can contact the customer care department via phone at +27 (11) 286 7000. Phone lines are available around the clock.