Video - Love it or loathe it? - Investec High 5 account

Yes ! agree with Sparx - how save is the money. I believe that it's a South African Bank. But is it safe?

Filled out the form. About to send for high 5 account. Checked bank's status. Just been reduced to 1 above junk status. Even with FSA cover not likely to invest. Would you get on the Titanic even if you knew you would get in the lifeboat?

Jeff is absolutely right, Investec has been downgraded recently by Moody’s, partially as a result of its ownership of the sub-prime lender Kensington, which it bought at the worst possible time – summer 2007.

With that in mind, it’s fair enough to be cautious, but my own view is that if Kensington’s loan book was likely to do serious damage to Investec, we would have heard about it by now.

After all, Kensington has been effectively closed as a lender for the best part of 18 months.

Also, after their performance over the past few years, I tend to take the pronouncements of credit rating agencies with a pinch of salt. Personally, the fact that Investec is covered by the FSCS is enough to allay any fears I have, but that’s just my view – there’s no harm in being cautious!