Investec, the specialist banking and investment group, is extending its reach into the personal banking sector with a premium current account, known as Voyage, that aims to meet the needs of wealthier long-distance travellers.
The account offers a significant range of benefits that include worldwide travel insurance, an ‘Unlimited Priority Pass’ allowing access to some 600 VIP airport lounges for up to four people, and currency conversion fees that are capped at 2%.
There are no fees for cashpoint withdrawals abroad, and the account pays a standard 1.5% interest on the balance. When using the ‘deferred debit card’ for a purchase, the money in the transaction will carry on earning that 1.5% interest until settlement.
More importantly, Investec says, Voyage account holders qualify for a worldwide concierge service, operated via Ten Lifestyle Management, which will arrange restaurant tables and theatre tickets, organise travel itineraries and generally smooth the path for travellers.
All this for an annual fee of £500. The eligibility criteria are high, however. To qualify for the Voyage account, clients will need to be earning at least £150,000 a year, and they must normally deposit at least £25,000 in the new account, except where they already have £25,000 invested within the Investec group.
