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With our banking systems of Nedbank and Investec we can offer the immediate opening of investment accounts in the name of a non-resident (South Africans living abroad) or resident in the local currency.

As the appointed agent, we administer your funds, invested with Nedbank Corporate Saver or Investec Corporate Cash Manager, on your behalf, through an administrator system situated at our offices in Table View and Constantia (Cape Town). These facilities offer you the high interest of a savings account combined with convenience of a current account.

You can choose between:

  • Call account, availability of funds at all times, no minimum or maximum balances
  • Accounts linked to money market
  • Fixed Deposits and Term Deposits

The interest rates are very attractive and are market related as well as determined by the total holdings of our client base, allowing you to benefit from the total book value under our administration.

These accounts are often used to facilitate the needs of foreigners opening local bank accounts as non-residents for rental income, Income Tax, VAT and investment purposes.

Besides our administration fee, which gets deducted from the interest earned on your accounts, you do not need to pay any bank charges. Please note that Nedbank Corporate Saver will introduce charges on the call account from October 2008 onwards. The bank systems are internet based and ensure that all your dealings are through us. That includes the opening of the accounts, deposits and withdrawals, statements, bank guarantees, interest instructions and electronic fund transfers (EFT). At month-end you receive a bank statement showing all transactions and interest earned on your accounts.

Third party payments, debit orders and stop-orders can be installed directly from your call account.

Euroconsulting acts as your agent. All your investments placed with Investec and Nedbank are in your name. You receive a unique number. Your funds will never be placed in a bucket account with other funds. With Nedbank you will be able to view your accounts online. We will provide you with the necessary internet access and password. We are remunerated by our clients, based on a sliding fee scale that is fully disclosed on the statements. Our admin fee is taken directly from the interest earned on your investment. No other bank fees are charged.

Our Products

1. Call accounts of Nedbank and Investec

  • Interest rate linked to prime lending rate
  • Interest rate between 6 and 8% p.a. (August 2009)
  • No minimum balance
  • Third-party payments, debit- and stop-orders
  • Capital guaranteed
  • No bank fees

Our Admin Fee on the call accounts incl. VAT:

Account balance: Admin fee:
From R 0 - 5% p.a.
From 50,001- 4% p.a.
From 100,001- 3% p.a.
From 250,001- 2% p.a.
From 500,001- 1% p.a.
From 1,000,001- 0.80% p.a.
From 10,000,000- 0.50% p.a.

2. Fixed and Term Deposits of Nedbank and Investec

  • Fixed periods from 2 to 365 days
  • Interest paid monthly or alternatively on maturity
  • At the end of the fixed term, invested capital and interest is transferred directly into your call account
  • We notify you on the day of maturity
  • Capital is guaranteed
  • No bank fees
  • Our Admin Fee is 0.75% p.a. incl. VAT, flat

3. Money Market linked account with Investec

  • Best rate taken from the top money funds for the day, rate therefore fluctuates daily
  • Attracts all advantages of money market fund without disadvantages
  • Minimum balance R 250,000
  • Third-party payments can be made
  • Access to funds within 24h
  • Capital guaranteed
  • Our Admin Fee is 0.57% p.a. incl. VAT, flat

4. Necessary Documentation

  • Signed mandate
  • Passport / ID copy
  • Utility Bill

5. Bank Guarantee

Investec Corporate Cash Manager offers the facility of bank guarantees. This gives you the option to keep funds for a property transfer in your interest bearing account. The issuing of a bank guarantee takes approx. four days.

The accounts can be opened immediately. An ideal system for foreign applicants for Retired Person Permit holders to show the necessary monthly income.


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