Help and guides

Frequently asked questions

Do you have a question related to any of our private wealth management services? Below is a list of the questions that clients often ask us. If your question is not listed, or you would like further information, please get in touch using the form link towards the end of the page.

What do I do if I forget my username and/or password?

Please contact our client services team, who will be able to identify you through a series of security questions and reconfirm your username.

A temporary password can also be assigned to you, giving you the opportunity to log on and change it to something more memorable.

Our client services team can be called on +44 (0)1624 645000 from Monday to Friday, between 8am and 8pm (UK time), with the exception of UK public holidays.

In which currencies can I bank and invest?

We can offer our services in any of the world’s major currencies and provide a Visa Platinum debit card in Sterling, Euro and US Dollars. Where required, a foreign exchange service is available, with no minimum or maximum transaction value.

How do I deposit and gain access to my money?

Bank transfers and cheques are the only accepted forms of deposits.

For withdrawals, Sterling accounts can have standing orders and direct debits set up for regular payments within the British Isles.

Our mobile app or online wealth service are the quickest and most secure routes to make payments, transfers and exchange currencies. More information is available here.

Our Visa Platinum debit cards allow you to make purchases and cash withdrawals.

Is (are) my money / investments safe?

Our operations are based in established and reputable banking centres and are licensed by the Isle of Man Financial Services Authority for banking and investment business, the Jersey Financial Services Commission to carry on deposit-taking and investment business, and the London office is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

If you are holding investments with us through our custody and nominee service, or our discretionary investment management services, your investments are held outside Nedbank Private Wealth within a nominee company. This means your assets are securely ring fenced in such a manner as to clearly indicate that they do not belong to Nedbank Private Wealth.

Accounts with our Isle of Man office are protected by the Isle of Man Depositors’ Compensation Scheme.

Accounts with our London office are protected by the UK Financial Services Compensation Scheme.

Accounts with our Jersey office are protected by the Jersey Depositors’ Compensation Scheme.

How financially robust is Nedbank Private Wealth?

Nedbank Private Wealth is well capitalised and retains levels of capital well above regulatory minimum requirements.  It has a low risk balance sheet with no debt servicing obligations and high levels of liquidity.

Our approach to liquidity management is very conservative, benefitting from a strong portfolio of high quality negotiable instruments. Cash placements with third party banks are generally for periods no greater than seven days and Nedbank Private Wealth liquidity is very strong.

We apply a policy of very limited lending (sometimes referred to as deposit upstreaming) to our parent and also restrict the size of our money market exposures with other major financial institutions.  All such exposures are only made with banks that are considered systemically important either globally or within their own geographic regions, and consequently are subject to much higher supervisory expectations and are required to have full resolution planning in place (“resolution” is the restructuring of a bank by a resolution authority through the use of resolution tools in order to safeguard public interests, including the continuity of the bank’s critical functions, financial stability and minimal costs to taxpayers). This ensures diversity of risk on behalf of our clients and individual exposures therefore remain extremely modest given the scale of our balance sheet and reserves.

Please note that these Frequently Asked Questions (FAQs) aim to give general information about our operations, products and services, and are not intended to be an invitation or solicitation to buy. More information on the legal and regulatory business requirements is available here.