UK bank Natwest has rolled out lower charges for its Invest platform clients.
Customers will now pay a 0.15% fee on their investments up to £1m ($1.3m, €1.1m).
Previously, they paid 0.35%.
This means Natwest clients will pay the same basis points for the online investment platform and face-to-face service.
The changes came into effect from 1 October 2020, and clients can invest as little as £50 as month.
The platform service will be available through Natwest in England and RBS division Royal Bank Invest in Scotland.
Wider access
“We need to make investing more accessible for everyone – cost must not be a barrier,” said Natwest’s head of affluent, Dylan Williams.
“We have a responsibility to not only raise awareness around the benefits of investing and financial planning, but ensure our products and services deliver results and help tackle the UK’s savings gap.
“This is an opportunity, for those individuals and families who can, to invest and secure their financial wellbeing for the long-term.
“By reducing our fees, we can help our customers grow their money faster and realise their goals more quickly,” he added
The bank is the latest company part of the Natwest Group to change its charging model.
International Adviser reported in September that private bank Coutts changed it fee structure for advised clients by introducing an initial one-off lump sum.
