Your money is protected because deposits made through Clarity by Investec are held with Investec Bank Limited. Investec Bank Limited is regulated by the South African Reserve Bank.
Qualifying deposits are also protected by the Corporation for Deposit Insurance (CODI), South Africa’s deposit insurance scheme. CODI is a wholly owned subsidiary of the South African Reserve Bank and provides protection to qualifying depositors in the event of a bank failure. CODI provides cover of up to R100,000 for qualifying deposits where the depositor has a positive balance in a qualifying product and the bank is placed in resolution.
For more information about CODI, qualifying depositors and deposit insurance, visit the South African Reserve Bank – Deposit Insurance page.