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Barclays launches market-first, fully integrated online investing service

  • Customers’ online banking and investment accounts fully integrated for the first time through a single log-in
  • The launch draws expertise from across the bank - combining Barclays’ digital expertise and Barclays Stockbrokers’ direct investing heritage

     

Barclays has today announced the launch of a new online direct investing service that puts people in control of their financial decisions and helps them achieve their goals. The service will provide Barclays customers1 with the first opportunity to view their investments, savings and current accounts in one place through a single log-in – making it easier for them to access more of their finances than ever before.

The new direct investing service has been developed drawing upon extensive customer feedback and expertise from across Barclays. Banks are in a particularly good position to develop solutions which help people understand investing; they have long-term relationships with customers who interact with them on a daily basis and at key stages in their lives, as they make important financial decisions.

A new simple fee structure, free from hidden charges, has been designed to make it easy for customers to understand exactly what they will pay. There is one fee and one transaction charge - common charges levied by other providers such as exit fees, reinvesting dividends and probate valuations are not charged. Independent research2 shows that for many it will be amongst the lowest-cost online investment services available. 

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.

Rupert Dickinson, Managing Director, Head of Direct Investing at Barclays, says: “This launch combines the direct investing services from one of the UK’s leading providers, with banking services from the UK’s second largest bank. We have over 30 years’ experience in direct investing through Barclays Stockbrokers and our new, integrated service draws expertise from across the whole business.”

Akshaya Bhargava, CEO, Wealth and Investments UK at Barclays, says: “This is the first step towards a suite of new services which will help address the savings and investing knowledge gap in the UK. The world of investing can often seem complex, and changes to the advice market in the UK have left many people without the help they need to navigate it. It is vital that the banking industry draws upon its experience to help customers by providing accessible, value-for-money services that build confidence.”

The new direct investing service follows the launch of Financial Wings, an online personal finance hub designed to give people the knowledge and confidence to take control of their money. Barclays has a history of delivering easy-to-use digital innovations3 that put customers in control of their finances - ultimately making banking, saving and investing simpler for all.

 

Notes to editors

1 Available to all Barclays customers with an online banking account

2 Independent research from Lang Cat, November 2016, based on analysis of direct to consumer online investment services. Analysis included platform and trading charges, but not investment fund charges

3 Digital innovations from Barclays include voice biometrics and Pingit

 

Pricing for Barclays’ new direct investing service

 

 

Funds

All other investments

Customer fee

0.2% per year

0.1% per year

Minimum customer fee

£4 per month

Maximum customer fee

£125 per month

Transaction charges (online)

£3

£6

Transaction charges (phone)

£25

Regular investments

£1

All other activities and services

Free

  

About Barclays’ Direct Investing Service

Barclays’ brand new easy-to-use online investing service is designed to enable users, whatever their investing experience, to achieve their financial goals.

 

Barclays customers are the first high-street banking customers who are able to view a fully integrated banking and investing service, allowing them to see all of their finances in one place.

 

A range of helpful tools and content allows customers to make more informed decisions and take control of their investments. The simple pricing structure ensures that users have a clear understanding of what they will pay.

 

Please click here to access Barclays’ direct investing service.

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .