Royal Bank Invest offers customers an opportunity to invest online from £50, on a self-select or Automated Advice basis.
Royal Bank of Scotland customers are now able to access Royal Bank Invest, a new online investment service that will allow them to invest amounts from as little as £50. Customers will be able to link their investments to a financial goal and track performance online 24-7.
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.
Marcelino Castrillo, Managing Director of Personal & Premier Distribution, said: “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.”
Royal Bank Invest’s Automated Advice service asks customers about their goals, financial situation and attitude to risk and produces recommendations based on each unique situation. Advice is given online, and recommendations include advice on how much a customer should invest, which fund(s) are right for them, and how to use their ISA allowance.
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. Where Automated Advice application journey recommends that the service or investing isn’t right for a customer, the service will suggest an alternative to investing without incurring a charge.