Tariff of charges personal accounts
Free services
- Online Wealth Services (mobile app and desktop)
- Detailed bank statements/Valuations (available via Online Wealth Services)
- Sterling chequebook
- Standing orders
- Direct debits
- Platinum Visa debit cards (Sterling, Euro, US Dollar)
- Certificates of bank interest
- Fixed term deposits
- Clearance of Sterling cheques drawn in the British Isles
- Clearance of Euro cheques drawn on UK banks
We provide a number of additional services for which a charge is payable. Charges are debited to your account, in the relevant currency, at the time the service is provided.
We reserve the right to charge an additional fee for the administration of accounts which require enhanced due diligence. The most common charges are shown below.
Where applicable, VAT will be charged on any taxable services provided.
Where a fee is variable, we will tell you about the amount in advance, so that you can agree to it before it becomes payable.
Payment charges
| Online payments | Value | Charge |
|---|---|---|
| Sending Sterling payments within the UK | Up to £100,000 | Free |
| £100,001 or more | £25 | |
| Sending payments outside the UK | All values | £25/€35/$40 |
| Payments instructed in writing | Value | Charge | ||
|---|---|---|---|---|
| Sending Sterling payments within the UK | All values | £30 | ||
| Sending payments outside the UK | All values | £30/€40/$45 | ||
Platinum Visa debit cards are issued free of charge. If you use your debit card to buy goods/services for cash withdrawals in a currency other than the currency of the card, the value of the payment will be converted by Visa at the prevailing exchange rate, plus a fee of 1.75%.
Unauthorised borrowing charges
| Unarranged overdraft – Referral fee | £25 |
|---|---|
| Unarranged overdraft – Follow up letters | £25 per item |
| Arrears charge – If you miss a mortgage or loan payment – Referral fee | £25 |
| Arrears charge, as above – Follow up letters | £25 per item |
| Refusing a cheque, standing order or direct debit due to lack of funds | £25 per item |
| Unauthorised overdraft interest rate | 9% above the bank’s base rate*. |
*see www.nedbankprivatewealth.com/information-for-clients/interest-rates for details of the bank’s base rate. Please also refer to the Mortgage Charges section below.
Cheque deposits and collections
| Clearance of currency cheques paid in (subject to varying clearance times) | The correspondent bank upon which the cheque is drawn may deduct a charge. This will vary and is outside of our control. |
|---|
We may apply a courier charge of £30/€50/$50.
Issuing cheques on your behalf
| Sterling cheque | £15 |
|---|---|
| Euro cheque | €22 |
We may apply a courier charge of £30/€50/$50.
Issuing cheques on your behalf
| Sterling cheque | £15 |
|---|---|
| Euro cheque | €22 |
Please note, we do not issue cheques in other currencies.
Other fees and charges
| Cancelling a cheque (unless it has been stolen or lost)* | £15 |
|---|---|
| Special presentation of a cheque* | £25 |
| Issuing duplicate statements (note, statements are available online, free of charge) | £5 per sheet |
| Issuing duplicare or ad-hoc valuations (note, valuations are available online, free of charge) | £25 per valuation |
| Proving copies of paid cheques | £20 per cheque |
| Status enquiries | £25 |
| Audit reports | £50 for the first account, £20 for subsequent accounts, capped at £1000 |
| Language translation of documents | £50 per item |
| Delivery of Visa card or Visa PIN via courier (note, Visa PIN is available online, free of charge) | £30/€50/$50 |
| Returned mail charge | £25 per month |
Please note, cheques become out of date six months after the date of issue.
Investment charges – Execution-only investment services
| Value | Charge | |
|---|---|---|
| Charge for custody holding and investment administation (based on the mid market value of any securities held, at the end of each quarter)* |
The first £1 – £249,999 | 0.25% per annum |
| The next £250,000 – £999,999 | 0.15% per annum | |
| Thereafter (£1,000,000 or more) | 0.10% per annum | |
| Minimum annual charge | £150 | |
| Dealing charge** | 0.50%, (minimum £50, maximum £100), per transaction | |
| Custody movement – UK and US secutities** | £25 per transaction | |
| Custody movement – Other securities** | £40 per transaction | |
| Custody movement – Hedge funds** | £80 per transaction | |
| Brokergae charges/Stamp duty | Any market related charges will be passed on to you | |
| Annual income and trading report*** | £25 per copy*** |
Payable quarterly in arrears.
** These charges will apply to any purchases, sales and transfers of securities to third parties.
*** Waived if Nedbank Private Wealth manages the portfolio on your behalf under a discretionary mandate.
In addition to the above, from time to time certain investment transactions may involve fees being deducted by our overseas agents. We reserve the right to pass on any such charges levied. Details of charges for other services, not listed above, will be advised when the service is provided.
Wealth planning and investment advice fees
Available upon request.
Mortgage charges
| Description | Charge | |
|---|---|---|
| Valuation fee | Cost of the valuation report which we will use to calculate how much we will lend to you. This cost will be charged to you. There are other homebuyer valuations and surveys available to you at an additional cost. | Variable |
| Legal fees | We will instruct a legal representative to act for us to complete the legal documentation for the mortgage. These fees will vary according to the nature of the transaction, and will be charged to you. | Variable |
| Changes to the mortgage | After you start the mortgage, you may wish to make changes which may incur a charge. | Variable |
| Arrears charge | Applicable each time you miss a contractual payment under the mortgage. | £25 |
| Solicitor’s costs in relation to arrears | If we take action to enforce the terms of the mortgage, you will be responsible for paying all the fees, including legal fees. The fees will depend on the type of action we have to take. | Variable |
| Redemption administration fee | To register a discharge at the Land Registry. | £60 |
| Unpaid ground rent service charge | Payable if we have to communicate with you and your landlord regarding outstanding ground rent or service charges, in order to protect the security on which the loan is based. | £50 |