Barclays launches online investing service
Barclays has unveiled a new online direct investing service to let its customers view their investments, savings and current accounts in one place through a single log-in.
The bank says it has introduced a new fee structure, which is “free from hidden charges”. There is one fee and one transaction charge – and common charges such as exit fees, reinvesting dividends and probate valuations are not charged.
Akshaya Bhargava, CEO, wealth and investments UK at Barclays, says the world of investing can “often seem complex” and it is “vital that the banking industry draws upon its experience to help customers by providing accessible, value-for-money services that build confidence”.
Barclays says the pricing structure has been developed to “encourage customers to take a long-term approach to saving and investing, choosing to buy and hold investments for a number of years”.
The new service is aimed at those who are “comfortable” making their own investment decisions, without advice.
Initially, the service will be available to Barclays’ customers, and existing Barclays “stockbrokers customers” will be transferred across to the new service next year. The service will be made more widely available to non-Barclays’ customers in 2017.