(quick note. This article originally appeared on adamfayed.com. To read the full article, including reviews on other banking providers, please click here — https://adamfayed.com/international-banking-and-investment-platform-reviews-lloyds-international-saxo-bank-others/)
Nedbank Private Wealth is based in South Africa, with various offshoots around the world. They have been listed on the South African Stock Market since 1969.
The range of services on offer includes:
- Wealth management
- Banking services
- Lending solutions
- Fixed deposits
They split their offerings into NedBank Capital, NedBank Corporate, NedBank Retail and Nedbank Wealth.
So they deal with people’s needs from lending to wealth management.
The majority of Nedbank’s clients are in the Southern Part of Africa.
The positives are:
- Good for banking
- The level of service is said to be good
- They can help set up trusts, and other structures, which helps you with succession plan options if you die and want to leave some money to your kids.
- Decent company formation services
- They do have low-cost options on the investment side.
- Transparent cost structures
The negatives are:
- They aren’t really focused on smaller and medium-sized clients
- In theory, having all of these options under the same roof, should be a good thing. In general though, having your investments, loans, company formation and everything in between with one bank doesn’t make sense.
- They can become much more expensive for active and more frequent traders.
- With the exception of pensions, there are not any tax concessions, in countless countries.
What’s the bottom line?
Nedbank isn’t a bad banking option, but it’s trading and investment platform will depend on which investments are picked within the platform.
The fee for the trading platform for expats (often 0.35%) isn’t high, but your investment choice will determine your end results, not the platform itself.
If you have a NedBank platform investment and want a free review please email email@example.com