Both banks target high-net-worth South African professionals, but they differ meaningfully on fees, international banking, lounges, and the breadth of private banking services offered.
Both Investec and RMB Private Account are genuinely premium offerings targeting similar high-income South African clients. Investec edges ahead for professionals who travel frequently, transact internationally, or want a truly all-in-one private banking experience, with its multicurrency card, 1,100+ airport lounges, and the UK bank account add-on being clear differentiators.
RMB Private Account may suit clients who already bank with FNB and want to leverage their existing eBucks ecosystem, or those who can maintain a R200,000 account balance to waive the monthly fee entirely. RMB's integrated wealth management and lending suite is also highly regarded.
For most ambitious South African professionals starting their private banking journey, Investec's single transparent fee and superior international features make it the stronger choice, particularly if you earn above R800,000 and travel internationally with any regularity.
How the two banks structure their pricing and what you actually pay.
| Fee | Investec | RMB Private Account |
|---|---|---|
| Standard monthly fee | R675 all-inclusive | R625/month |
| Young Professional rate | R340/month (under 30) | R312.50/month (50% off, ages 18–35) |
| Fee waiver option | No waiver | Waived at R200k+ balance |
| Spouse / partner account | Reduced family fee | 50% off (R145/month) |
| Free local ATM withdrawals | Unlimited | Unlimited |
| Free international ATM withdrawals | Yes (Investec charge) | Yes |
| Unlimited transactions included | Yes | Yes |
| Fee structure transparency | Single all-in fee | Service fee + credit facility fees |
For the frequent traveller, lounge access and travel perks can be a deciding factor.
| Feature | Investec | RMB Private Account |
|---|---|---|
| Airport lounge count | 1,100+ worldwide | SLOW Domestic + International lounges |
| Complimentary lounge visits | Unlimited, no cap | Up to 36 visits per year |
| Lounge booking app | InTransit app | eBucks Lifestyle app |
| Domestic flight discounts | Not included | Up to 40% off domestic flights |
| International flight discounts | Not included | Up to 40% off international flights |
| Complimentary travel insurance | Yes (on ticket purchase) | Check terms |
| Private travel agency | Yes, exclusive access | eBucks Lifestyle assistant |
| Bespoke travel itineraries | Yes | Limited |
A key area where the two banks diverge significantly.
| Feature | Investec | RMB Private Account |
|---|---|---|
| Multi-currency card | Yes: GBP, USD, EUR, ZAR | Not available |
| Intelligent currency routing | Yes, automatic | No |
| UK bank account | Yes, add-on (GBP 1,000 min) | No |
| Offshore investment access | Yes | Yes, global solutions |
| Foreign currency accounts | Yes | Yes |
How each bank rewards your loyalty.
| Feature | Investec Rewards | eBucks (RMB) |
|---|---|---|
| Programme fee | Free | Free (included) |
| Earn on transactions | 1 pt per R20 spent | Up to highest eBucks tier |
| Earn on balances | 1 pt per R2,000 balance | Fee rebate via eBucks |
| Points expiry | Never expire | Check eBucks terms |
| Points cap | No cap | Tiered earning limits |
| Redeem for cash | Yes | Yes |
| Redeem for travel | Yes | Yes |
| Redeem for investments | Yes | Limited |
| Airline miles redemption | British Airways Avios | Various partners |
The depth of specialist advice and financial services on offer.
| Feature | Investec | RMB Private Account |
|---|---|---|
| Dedicated private banker | Yes, 24/7 | Yes, private advisor |
| Wealth management | Yes | Yes |
| Investment platform | My Investments (digital) | Yes, stockbroking and more |
| Estate & succession planning | Yes | Yes, specialist team |
| Structured lending | Yes | Yes, full suite |
| Vehicle finance | Prime minus 1% | Yes |
| Home loans | Yes | Yes, specialist pricing |
| Insurance | Pinion (via Aon SA) | AA Roadside + partners |
| Young Professional benefits | R340/month + R25k life insurance | Standard rate applies |
| Refer a friend reward | R3,750 per successful referral | Not available |
Who qualifies for each bank's private banking offering.
| Criterion | Investec | RMB Private Account |
|---|---|---|
| Minimum income (over 30) | R800,000 p.a. | R750,000 p.a. |
| Young Professional access (ages 18–35) | R600,000 p.a. (under 30) | Available (50% fee discount) |
| Alternative qualification | Professional qualification | R15m+ net asset value |
| Residency | SA resident | SA resident |
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