Client notices

Client notices

Read the latest client updates

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Changes to payment cut-off times and limits

The latest update to our online wealth services includes a number of changes that will give you increased flexibility when transacting online or on your mobile app:

The daily limit for domestic and international payments made through the desktop has been removed, to allow payments of any value to be made.

Payments with a cumulative daily total of £500,000 and above will be subject to additional security checks. Payments will not be processed until we have contacted you to verify your payment. We may request supporting documentation.

Should you have any questions about this change, please contact your private banker or our client services team.

Contactless limit increase

On 15 October 2021, the limit per transaction for contactless cards increased from £45 to £100. The decision was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with the UK retail and banking sectors. It follows on from the successful increase in the limit from £30 to £45 in April 2020.

As a security measure, you will need to input your PIN after 5 transactions, or when the cumulative value of your transactions reaches £300, whichever is sooner.

If you have any concerns about how this change may impact you, have a look at our useful fact vs fiction list here.

New ways to manage your Visa debit card

New ways to manage your Visa debit card

The latest improvements to our online wealth services introduce a number of self-service features that give you greater control, increased security, and more convenience.

In addition to the useful ‘view PIN’ facility, you can now:

  • Freeze a misplaced card
  • Cancel a lost or stolen card
  • Order a new card
  • Activate a card
  • Switch on SMS notifications
  • Switch on regional transaction blocking

all through your mobile app or via your desktop. Just go to the ‘More’ menu and select ‘Card management’.

Update your mobile app today to access the new card management features, and please ensure you have given us your current mobile phone number – if in doubt, please contact us.

Your mobile app is up to date when you are using version 6.1.2. You can check your current version by navigating to ‘More’ followed by ‘Important information’. The version number is visible at the bottom of the screen.

Click here to find out more about our online wealth services.

Shareholder Rights Directive II

New European Union (EU) legislation comes into effect from 3 September 2020.

The Shareholder Rights Directive II (SRD II) is designed to improve corporate governance and encourage long-term engagement among shareholders of companies that have their registered office in the EU and whose shares are traded on EU regulated markets.

If you hold shares in companies within the scope of this directive, you will be notified of corporate events in a timely manner and have the opportunity to vote at general meetings, on issues such as board composition, strategy and directors’ remuneration.

Nedbank Private Wealth will be obliged to share information about the identity of shareholders at a company or share issuer’s request. As is common practice across other jurisdictions, the information we will be asked to share will include the shareholder name, their contact details, and the registration number and number of shares held.

What do clients need to do?

If you haven’t already submitted your ‘decision maker’ nomination form, you can download it here. Please complete it and send it back to us at your earliest convenience.

You may nominate yourself or an appointed third-party with authority over your account, such as an investment adviser. Please ensure you have their agreement for us to contact them. Where you have appointed Nedbank Private Wealth as your discretionary investment manager, we will act as your decision maker on corporate actions within the portfolios we manage on your behalf.

Notifications will be sent by email as this is the preferred means of contact to ensure prompt and direct delivery, so it is important you provide us with your nominated decision maker’s current email address.

Should you wish to nominate someone who does not currently have authority over your account as your decision maker, or you have questions regarding the impact of the Shareholder Rights Directive II, then please contact your private banker, or our client services team.

Visa secure information

MiFID II information

Access the MiFID II forms you need for the UK or access more information on the legislation, as well as the reports on the top five brokers we publish on an annual basis for each of the main asset classes which we trade.

Download the legal entity identifier form
Download the natural persons identifier form
Download the natural persons guidance

Interest rates

Please click here to access the last published rates for Nedbank Private Wealth’s current accounts as well as lending rates.

Depositor compensation schemes

If you would like more information, the Isle of Man scheme website is linked here, the Jersey website is linked here, and the UK website is linked here.

You can also download the information from Nedbank Private Wealth on the UK Financial Services Compensation Scheme


UK tax strategy

Download the Nedbank Private Wealth Limited UK tax strategy here.


Brexit information

This update provides Brexit information from Nedbank Private Wealth and Nedgroup Trust.

See our Brexit FAQs for specific answers to some of the questions you may have.