Royal Bank of Scotland (RBS) announced on Wednesday the launch of its online investment service. According to the banking group, the Royal Bank Invest offers customers an opportunity to invest online from £50, on a self-select or Automated Advice basis. Customers will be able to link their investments to a financial goal and track performance online.
“Customers will be able to invest either through one lump-sum, a monthly contribution or an ISA transfer. Royal Bank Invest will also offer Automated Advice, designed for customers who are less confident and may need some help investing for the first time. Automated Advice will provide fast, low cost advice on investing spare income and savings.”
While sharing more details about the new service, Marcelino Castrillo, Managing Director of Personal & Premier Distribution, stated:
“At Royal Bank, we focus on meeting the ever changing needs of our customers. By offering a low minimum investment sum and a simple online service, we hope that Royal Bank Invest will encourage more of our customers to get investing to help them achieve their financial goals.”
The banking group went onto add that the funds customers can invest in through Royal Bank Invest are available as an ISA, so the bank’s customers can invest using their ISA allowance and transfer funds from an existing ISA. There’s no minimum term, but the service is aimed at customers looking to leave the money untouched for at least five years.