Barclays has unveiled a new online direct investing platform by combining its online banking and investment services.
The British banking group's current offering Barclays Stockbrokers will be merged into the new service, dubbed Barclays Direct Investing.
The new platform will allow customers to access their investments, savings and current accounts in one place through a single log-in.
The service will be initially open to Barclays’ customers, with existing Barclays Stockbrokers customers transferred across to the platform from 2017. Customers of other banks can access the new service from 2017.
Barclays wealth and investments UK CEO Akshaya Bhargava said: “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.”
Barclays said that the new platform would have one fee and one transaction charge, and would be free from common charges including exit fees, reinvesting dividends and probate valuations.