1matter on the record across its booking centres, 2023
2.5/54 UHNW client ratings across its booking centres
The editor's opinion
Why Nedbank Private Wealth rates 4.0 out of 5
Nedbank Private Wealth rates 4.0 out of 5. The figure combines the ratings of its two rated booking centres (the Isle of Man, three stars; Jersey, five stars), each weighted by the number of UHNW client ratings it has received, so a centre where more families bank counts for more. Jersey is the strongest at five stars; the Isle of Man is the weakest at three stars. Its booking entities carry one matter on the record, the most recent in 2023; each is listed below with the centre it concerns. Across its booking centres, four UHNW client ratings average 2.5 out of 5.
Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026, Q4 2026 edition. Each booking centre is rated on its own file, from the public record and what clients and their advisers tell us in confidence. The overall rating brings those ratings together; retail products, branches and apps play no part.
Where Nedbank Private Wealth stands out
Deposits are covered by a protection scheme, with limits. Isle of Man
A broad range of private banking services is published for this booking unit. Isle of Man
Most fees are published. All centres
Ownership and control are fully public. Isle of Man
No politically exposed person holds a significant stake. Isle of Man
Custody assets are segregated by statute and sit outside the bank's own estate. Jersey
Deposits are covered by a statutory protection scheme. Jersey
The custody terms can be read in full before signing, including re-use of assets and sub-custodians. Jersey
The bank states publicly what it does with third-party payments. Jersey
What to weigh
A significant regulatory finding stands on the record in the last ten years. All centres
The last adverse finding is recent. All centres
Only a summary of the custody terms is public. Isle of Man
No public policy on third-party payments or retrocessions. Isle of Man
An owner's home jurisdiction is under increased monitoring for money laundering. All centres
No public account of how the issues behind past findings were remediated. All centres
Only part of the private banking range is published for this booking unit. Jersey
Isle of Man · Nedbank Private Wealth Limited2 client ratings · 50% of the weight
Jersey · Nedbank Private Wealth Limited, Jersey Branch2 client ratings · 50% of the weight
PPLI.com rating, weighted across the centres4.0
Each booking centre keeps its own rating, set on its own file. The overall rating is the average of those ratings, weighted by the number of UHNW client ratings each centre has received. A centre whose rating is still in preparation is shown but not counted.
The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice.
The booking centres
Nedbank Private Wealth in 2 booking centres
Each booking centre is a separate legal entity, with its own licence, deposit protection, services and fees, and keeps its own PPLI.com rating. Everything on file for them is brought together on this page; open a centre for its own file.
What regulators, prosecutors and courts have decided against the booking entities of Nedbank Private Wealth, gathered from the files of all its booking centres, with the status, the amounts as published and a link to the original document. Each entry names the centre it concerns. Claims and investigations still under way are marked as open.
202319 December 2023
Civil penalty for anti-money laundering failings across its foreign politically exposed clients
The Isle of Man Financial Services Authority found that Nedbank Private Wealth Limited contravened the AML/CFT Code 2019 across its foreign politically exposed clients, after a May 2022 inspection that followed a 2018 return showing a high proportion of such clients. Risk assessments lacked detail, due diligence and source of funds and wealth evidence were insufficient, ongoing monitoring was not fully effective and procedures did not manage the risk. The penalty of GBP 764,550 was reduced by 30% to GBP 535,185 for early settlement, and the bank cooperated fully.
What clients meet at Nedbank Private Wealth across its booking centres, read from complaint registers, ombudsman decisions and court records, independent reporting and what clients and their advisers tell PPLI.com in confidence. Announcements by the bank, awards and marketing material are left out.
UHNW client ratings
2.5 out of 5, based on 4 client ratings across its booking centres.
Isle of Man3.0 out of 52 ratings
Jersey2.0 out of 52 ratings
What clients report
Isle of Man. The December 2023 penalty concerned due diligence on foreign politically exposed clients, not the handling of client money.
Jersey. The one regulatory decision against its legal entity, the Isle of Man penalty of December 2023, concerned due diligence on foreign politically exposed persons, not the handling of client money.
Worth raising with the bank
Isle of Man. Ask whether the remediation after the December 2023 penalty led the bank to close or restrict relationships with foreign politically exposed persons, and whether any such limit applies to your family.
Isle of Man. Ask whether deposits with the bank have any support arrangement with Nedbank Limited, rated Baa3 by Moody's, since the bank carries no credit rating of its own.
Jersey. Ask whether relationships with foreign politically exposed persons booked through the Jersey branch fell within the Isle of Man penalty of December 2023, and what changed in source of wealth checks afterwards.
Financial standing
Credit ratings published by the agencies for the companies named in the centre files, dated by the latest agency or bank document that confirms them
Isle of Man Today reported the IOMFSA civil penalty of GBP 535,185 on Nedbank Private Wealth Limited for breaches of the AML/CFT Code concerning foreign politically exposed clients.
The Isle of Man FSA imposed a GBP 535,185 penalty on the bank over its anti-money laundering controls for foreign politically exposed persons, reduced by 30 percent for early settlement.
What it costs
What Nedbank Private Wealth charges, centre by centre
Fees are set by each booking entity, so they are shown centre by centre. Two of the two centres of Nedbank Private Wealth publish a fee schedule, read on 6 November 2026 from the documents linked under each table. To compare banks fairly we put every published fee in US dollars at the same indicative rates and apply it to the same reference amounts, then rate each fee against the average of the other banks that publish it. Five stars is the lowest fee, one star the highest. Terms a family actually negotiates are often different, and a bank can change its schedule at any time.
The published fees side by side
Fee
Isle of Man
Jersey
Other banks
Custody and safekeepingeffective rate on USD 25 million
0.10% a year
0.10% a year
0.30% a yearaverage of 38 other banks
Equity tradecommission on a USD 250,000 trade, major exchange
0.50%
0.50%
0.81%average of 47 other banks
Bond tradecommission on a USD 500,000 trade
0.50%
0.50%
0.95%average of 42 other banks
Third party fund subscriptionfee on a USD 250,000 subscription
0.50%
0.50%
1.40%average of 42 other banks
Account maintenanceper year
USD 0 a year
Not in the schedule
USD 1,324 a yearaverage of 26 other banks
Minimum annual feeper year, or fee below the asset threshold
USD 195 a year
Not in the schedule
USD 4,447 a yearaverage of 38 other banks
Outgoing international transferper transfer, standard
USD 32
USD 32
USD 57average of 61 other banks
Transfer of securities to another bankper position
USD 32
USD 32
USD 128average of 38 other banks
Each fee is rated against the average of the other banks that publish it: five stars is the lowest, one star the highest. The schedules, their dates and what each leaves out are listed centre by centre below.
Isle of Man · Nedbank Private Wealth LimitedCentre file
Price level of the published fees8 fees compared with the other banks that publish them
Not in the published schedule: discretionary mandate, advisory mandate, currency conversion, closing the account, lombard loan margin.
Wealth management fees, read on 6 November 2026. No figures; fees are tailored around the services you require and the value of your portfolio.
Jersey · Nedbank Private Wealth Limited, Jersey BranchCentre file
Price level of the published fees6 fees compared with the other banks that publish them
Not in the published schedule: discretionary mandate, advisory mandate, currency conversion, account maintenance, minimum annual fee, closing the account, lombard loan margin.
How the comparison works: USD 25 million booked with the bank: half under a discretionary balanced mandate, half in custody with advice; 24 equity trades of USD 250,000 and 8 bond trades of USD 500,000 a year; 6 currency conversions of USD 1 million; 24 outgoing international transfers. Tiered fees are applied to those amounts tranche by tranche, stated minimums are applied, and amounts are converted at indicative rates of 2026-11-06. Read how we compare fees.
The bank at a glance
Identity, protection and services
Ownership
Group parentNedbank Group Limited (listed, JSE (NED); NSX) Source
ControlWidely held; no shareholder with 10% or more Source (11 August 2025)
Holder of 10% or moreGovernment Employees Pension Fund, 15.37% in Nedbank Group Limited Source (11 August 2025)
Disclosed holdings of 3% or moreAllan Gray Ltd 6.88% Source (11 August 2025); BlackRock Inc. 5.03% Source (11 August 2025)
Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.
Booking entities
Isle of ManNedbank Private Wealth LimitedIsle of Man Financial Services Authority (IOMFSA); Jersey branch regulated by the JFSC; London branch authorised by the PRA and regulated by the FCA and PRA; UAE representative office licensed by the Central Bank of the UAE · Licence holder · LEI 213800YEKLOP9E1LRX08Licence: 'Nedbank Private Wealth Limited is licensed and regulated by the Isle of Man Financial Services Authority.' (site footer); licence class not obtained from the register Source
JerseyNedbank Private Wealth Limited, Jersey BranchJersey Financial Services Commission (JFSC) for the Jersey branch; Isle of Man Financial Services Authority for the legal entity · Branch of Nedbank Private Wealth Limited · LEI 213800YEKLOP9E1LRX08Licence: JFSC Banking DC0217; Investment Business IB0282 (A dealing, B managing, C advice); Fund Services Business FSB2037 (distributor); Money Service Business MSB0175 (notified) Source
Offered at one or more booking centresOffered by the group, not confirmed at a centreNot located, which does not mean unavailable Checked on the bank's own pages for each centre.
Access and costs
Minimum relationshipIsle of Man:Not published Jersey:Not published
US personsIsle of Man: Not published Jersey: Not published
Third party paymentsIsle of Man: Not published Jersey: Published Source
Transfer out termsIsle of Man: Published Source Jersey: Published Source
Protection of client assets
Deposit protectionIsle of Man: Bank states its deposit protection coverage: Nedbank Private Wealth Limited is a participant in the Isle of Man Depositors' Compensation Scheme as set out in the Compensation of Depositors Regulations 2010. Jersey: Jersey Depositors Compensation Scheme: GBP 50,000 per eligible depositor per Jersey banking group, payment aimed within seven working days; the GBP 100 million total cap was removed on 1 April 2026.
Custody lawIsle of Man: Not published Jersey: Investment Business (Client Assets) (Jersey) Order 2001: client property must be segregated and held on trust, and art. 22 allows a firm to lend client property only with the client's written consent. It applies to banks registered for investment business.
Custody termsIsle of Man: Not published Jersey: Published Source
Before opening an account
Custody agreement. Ask for the agreement covering the account you would open. Which entity holds the securities, what law governs the account, and where would the assets be held if a sub-custodian is used? Isle of Man
Reporting to the family office. The bank lists a desk for external asset managers. Ask for a sample statement or data export and confirm whether it includes positions, transactions, accrued income and all currencies held.
Exit costs. The fee comparison shows USD 32 per position for a securities transfer. Ask what rate would apply to your mandate and whether the receiving bank or a sub-custodian would charge separately. See published fees.
Moving the portfolio. Use the published transfer terms as a starting point. Ask the bank to flag positions in your portfolio that would require consent, manual handling or a sale, and to quote the charges separately. Jersey
Your experience
Rate Nedbank Private Wealth
If you bank with Nedbank Private Wealth in any of its booking centres, or advise clients who do, your experience forms part of its PPLI.com rating. Please say which centre you deal with. Every response is read by the editor and treated in strict confidence.
Before we publish a significant negative finding that is not already public, we give the bank the facts and time to comment, on the same timetable for every bank. Decisions of regulators and courts are shown as they were published. Corrections we verify are published with the date of the change. Write to [email protected] quoting the reference of the booking centre concerned: Isle of Man BK-IM-NEDBANK-395BA9; Jersey BK-JE-NEDBANK-JERSEY-583516.
Reviewing this file with us
Families and their advisers read this file before they open an account. It can only be as complete as the documents we can find, and much of what sets a private bank apart, from its custody terms to the way a client team works, is rarely published.
If you represent Nedbank Private Wealth, one of our Bank Intelligence analysts can go through the file with you: correct anything that is out of date, add terms and documents that are not yet public, and set out what has improved since our last edition. The review is a paid engagement for the analyst's time and research.
The rating itself stays with our editor and follows what the documents show, so we cannot promise a particular result. When a review changes the file, this page notes that the bank took part, with the date and what was added.
Brought together by the PPLI.com research desk from the files of its booking centres and the public sources listed. The rating is our editorial opinion; read how the overall rating is built.
Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026Methodology 2.4Overall rating weighted by UHNW client ratings
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