FAQ

A relationship banker offers you a single point of contact for your banking and financial needs. Our bankers are well equipped to understand your financial position, offer value-added and relevant financial advice, provide information about product features and services, resolve enquiries, and manage your credit applications efficiently.

The Private Client proposition is ideally suited for individuals earning more than R750,000 per year. However, the offering and range of Private Client accounts (Private One, Private Bundle & Private PAYU) is available to all individuals, regardless of their income or profession, in other words, there are no minimum entry criteria.

To qualify for the 50% discounted Private offering for Young Professionals, you must hold a 4-year degree and be under the age of 30.

To qualify for the 30-50% rebate on the Private Client One or Bundle fee, you must be over the age of 55 and hold a min R300,000 investment balance.

Use the Money app

Download the Money app, go to apply and choose to open a Private Client bank account or bundle. The online form will take about 5-10 minutes to complete and you’ll have the option to add an overdraft or credit card. Once done, you can begin to transact immediately.

Apply online

Join Private Clients directly from our website. Browse our offerings here. You’ll have the option to add an overdraft or credit card facility and once done, you can begin to transact immediately using the Nedbank Money app and Online Banking.

Contact our helpdesk

We’re available 24/7 if you have a banking query or would like to arrange an appointment with our dedicated specialists. Contact us on 0860 555 222 or privateclients@nedbank.co.za to discuss your specific needs so that we can make switching to Nedbank a seamless experience for you and your family.

• Your SA ID or passport.
• 3-months bank statements (we can source these for you from most banks).
• Additional documents for overdraft and credit card applications may be required.

You can apply for a transactional account with a credit facility, overdraft and/or credit card at the same time. Your credit will be assessed online. Once you receive your account, you can request additional products, such as investments or loans, from your Money app or Online Banking profile.

All your banking products are linked to your profile which can be accessed on Money app and Online Banking using your Nedbank ID and password.

You can apply for a credit facility, overdraft and/or credit card online.

You can do so either at the time of opening the account, or request credit any time after you have opened the account as well as adjust any existing lines of credit.

Please note that, the Private One account requires you to take out a facility at inception of the account, while for the Private Bundle and Private PAYU credit is optional.

With a dedicated relationship banker, round-the-clock support and easy-to-use digital channels, we offer a seamless banking experience for you and your family.

Enjoy lifestyle perks for the entire family with tailored offerings for young professionals and those 55 years and older. Access unique investments to suit your lifestyle and finance that lets you dream big.

Day-to-day benefits

• Contactless-enabled debit and credit cards delivered to your door free of charge.
• Unlimited swipes, debit orders and ATM withdrawals and deposits.
• Membership of Greenbacks, our money management programme that rewards you every time you make good money choices.
• Travel benefits, including unlimited local and ten international airport lounge visits, travel insurance and free delivery of your forex.

Round-the-clock relationship access

• Your dedicated relationship banker manages your banking relationship and is trained to handle even the most complex requests and appreciate your personal circumstances. You can reach them by email, phone or appointment.
• Private Clients consultants can be reached for account maintenance and service-related requests round the clock either by phone, email or in-app chats.
• Your account can be managed your way via the Money app and Online Banking

Specialist advice for lending, investments and financial planning

Whether you need access to our dedicated credit team, direct dealing with treasury or financial planning to ensure that your financial future is secure, your dedicated relationship banker will liaise with specialists to ensure you get the best possible deal.

International banking        

• Hedge your position against currency fluctuations with our foreign currency account.
• Make or receive international payments via the Money app or Online Banking.
• Wealth advisors can facilitate international investments and an offshore bank account.

You can ask your relationship banker to put you in touch with one of our financial advisors if you need help in assessing your financial position and future goals. We offer a comprehensive service including free will drafting; contingent liability cover; education planning for your children; as well as estate and retirement planning.

All our investment products, including stock broking, unit trusts, retirement annuities, tax free investments and life insurance products are available digitally on Money App and Online Banking, alternatively out team of financial advisors and stockbrokers can assist you with creating and managing your investments.

If you are under 30 years old and have a four-year qualification, we know you are going places. As you gain experience, get the private banking experience that comes with the benefits that matter and is flexible enough to grow.

Get all the banking, rewards and lifestyle benefits of our Private Clients offering at a 50% reduced monthly service fee. The 50% discount on your monthly service fee is available until you reach the age of 30.

Tailored finance

With the support of your dedicated relationship banker, credit decisions are personalised to your unique circumstances, and you can get:

• 105% loans for first-time home loans of less than R1,5 million; and
• 100% loans for vehicle finance of less than R400,000.

Financial advice

As a young professional, you are building a portfolio of financial assets. Your financial growth also comes with important decisions and responsibilities. We’ll give you access to a financial advisor to assess your financial position and your future goals. Your financial advisor will consider different retirement scenarios, calculate the various costs and help you determine the optimal portfolio for your circumstances. We’ll even draw up a will for you for free.

From the age of 55 years you benefit from significant rebates off your monthly fees.

To qualify you need to remain on Private Bundle or Private One and maintain an average monthly balance of R300,000 in any Nedbank investment. Qualifying investments include 32Day Notice, money market and call, fixed or term accounts.

Every month you meet these criteria, we will automatically pay the appropriate amount into your account, ie:

• 30% back for those aged between 55 and 64 years;
• 40% back for those aged between 65 and 74 years;
• 50% back for those aged 75 years or more.

Yes you can. And if you’re graduating this year, you get up to 6 months free banking as well as all the benefits of Private Clients for young professionals.

We offer a wide range of flexible investment options, from simple savings and money market accounts to unit trusts, share trading and other more complex investment options. Your relationship banker is there to guide you based on your specific risk appetite, cashflow needs and required returns.

Ask your relationship banker about exclusive investment products only available to Private Clients, such as Platinum Invest or Platinum Fixed Deposits. In addition, your banker can source tailored rates for investments over R250,000. For investments over R10 million, professional services from Nedbank’s Treasury Desk are available to you.

Nedbank Online Share Trading opens the door to a diverse range of investment opportunities and gives you the flexibility to decide how you want to manage your investments – from hands-on or self-managed to fully outsourced and managed by one of our expert portfolio managers.

With no minimum balance, low monthly admin and brokerage fees, as well as access to lots of free research and educational courses, you can start small and grow big at your own pace.

To open a free 30-day trial account, click here.

To open an Online Share Trading Account, click here.

Choose between the Nedbank foreign currency account or our International Focus Account from Nedbank Private Wealth.

• Our foreign currency account lets you diversify your portfolio or hedge your position against currency fluctuations.
• The International Focus Account, delivered through Nedbank Private Wealth, is a consolidated international investment and banking platform that offers you access to a universe of global investment opportunities and a range of banking services.