Wire transfer is the fastest mode of receiving money in your Investec Bank account from abroad. You can receive money into your Investec Bank account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.
International Wire Transfer to Investec Bank
International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in UK) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.
Incoming International Wire Transfer Instructions
To receive international wire transfer in your Investec Bank account, please provide the following wire instructions to the sending financial institution:
|Investec Bank UK
|SWIFT BIC Code for Investec Bank:
|For Investec Bank UK, this code is IVESGB2L
|Your International Bank Account Number (IBAN):
|It’s on your statement or you can find it through online banking
|Your Sort Code:
|You can find it on your statement or through online banking
|Beneficiary Account Number:
|Your complete Investec Bank account number (including leading zeros, if any)
|The full name of your account as it appears on your statement
|Your complete address
Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees.
Outgoing International Wire Transfer Instructions
To send international wire transfer from your Investec Bank account, You need to know the following information about the person or company receiving the money:
1. Their name and address (exact full name or company name)
2. Their IBAN (International Bank Account Number) or account number
3. Their bank’s SWIFT/Bank Identifier Code (BIC)
4. If the BIC is not known then the name and address of their bank including the branch code or national bank code
5. Their bank’s correspondent/agent bank, if available
6. The payment currency.
Incoming Wire Transfer Fees for Investec Bank
International Incoming Wire Transfer Fees for Investec Bank is as follows:
|South African rand
Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.
Incoming/Outgoing Wire Transfer Cutoff Time for Investec Bank
|All other currencies
Any requests received after cutoff time will normally be processed the next working day.