Barclays simplifies pricing structure for investing
- Smart Investor minimum monthly £4 fee removed
- A new simple customer fee based on investment balances introduced, 0.25% on investment balances up to £200,000 and 0.05% above £200,000, for new customers1
- Fund dealing charges removed (previously £3 per trade)
- UK and International share trading £6 per deal
Barclays has simplified its pricing for Smart Investor, its digital investing service, removing the minimum monthly fee2 and introducing one simple customer fee. For new customers this will be 0.25% on investment balances up to £200,000 and 0.05% above £200,000, regardless of what customers choose to invest in.
The new single fee will make it easier for customers to understand how much they are paying and why. It aims to make investing more accessible and enable more customers to start their journey to a better financial future.
Customers can invest from £50 a month, with no additional charges for regular investments or investing in funds. The cost of digital share dealing is £6 for all UK and international equities[3]. There are no hidden charges and no exit fees if customers decide to leave Smart Investor.
The impact of the new fee is shown through the following example: a new customer who has £10,000 invested in funds within an Investment ISA, will pay a customer fee of just £25 per year compared to £48 under the previous fee structure.
Chris Worle, Head of Barclays Smart Investor, commented:
“It’s more important than ever we enable more people in the UK to invest for their future – with inflation still high, and interest rates expected to peak in 2024, investing continues to offer the potential for the best returns over the long term. These changes to Barclays Smart Investor are the start of a raft of improvements we will deliver over the next 18 months to make investing easier, as well as more accessible and rewarding.”
A full breakdown of Smart Investor costs is below:
|
Fee |
Customer account fee |
0.25% pa on investments up to £200,000 0.05% pa on investments above £200,000 |
Account opening |
No charge |
Paying money in |
No charge |
Buying and selling shares* |
£6 per deal** |
Buying and selling funds |
No charge |
Regular investments |
No charge |
Dividend reinvestment |
No charge |
Holding cash |
No charge |
Taking money out |
No charge |
Transferring investments |
No charge |
Account closure |
No charge |
* Includes ETFs, investment trusts, bonds and gilts.
**Online dealing only. Taxes may apply when buying shares. A foreign exchange and an international brokerage fee will be charged when trading international shares.
- ENDS -
Notes to Editors
Changes:
Activity |
Cost previously |
Cost Now |
Customer account fee |
0.20% pa funds 0.10% pa other investments £4 minimum monthly fee £125 maximum monthly fee |
0.25% pa on investments up to £200,000 0.05% pa on investments above £200,000 |
Account opening |
No charge |
No charge |
Paying money in |
No charge |
No charge |
Buying and selling shares* |
£6 per deal – UK and US securities £9 per deal – other international exchanges
|
£6 per deal |
Buying and selling funds |
£3 |
No charge |
Regular investments |
£1 |
No charge |
Dividend reinvestment |
No charge |
No charge |
Holding cash |
No charge |
No charge |
Taking money out |
No charge |
No charge |
Transferring investments |
No charge |
No charge |
Account closure |
No charge |
No charge |
Pricing for existing Smart Investor customers:
- No minimum monthly fee - We’re removing the £4 minimum monthly fee.
- We are freezing Customer fees for existing customers: 0.2% pa for funds. 0.1% pa for all other investments. The maximum monthly fee remains capped at £125.
- New trading fees: Existing customers will be charged the same as new customers for any investments they buy or sell.
For further information, please contact: Melanie Hunt, Barclays Media Relations; Email: Melanie.hunt@barclays.com; Tel: +44 (0)7385 364641
About Barclays
Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.
For further information about Barclays, please visit our website home.Barclays
Smart Investor is our DIY investment platform – we provide the tools, helpful insights and research resources, to help customers take control and make their own investment decisions.
Customers can open an investment ISA, general investment account and/or a SIPP online – trading a wide range of investments and managing their own portfolio alongside their other finances, both online and through the Barclays app.
[1] Existing customers will benefit from the removal of the minimum fee, free fund dealing and lower share dealing charges; and also remain on their existing custody rate of between 0.1% and 0.2% on investments.
[2] Smart Investor previously charged a £4 minimum monthly fee
[3] A Foreign Exchange fee (a maximum of 1%) continues to apply to international trades.