Barclays has removed its monthly platform fees on Barclays Direct Investing, making it free for millions of everyday customers to hold investments on the platform starting May 31. This move aims to simplify investing and encourage more people to begin their investment journeys.
Sasha Wiggins, CEO of Barclays Private Bank and Wealth Management, emphasized the bank’s commitment to making investing accessible for all. “Whether you are experienced or new to investing, it should feel relevant and within reach,” she said. “By removing the Direct Investing customer fee, we’re making it easier and more affordable for people to invest confidently.”
With no monthly customer fee, investors can now hold shares, ETFs, bonds, and investment trusts on Barclays Direct Investing without ongoing platform charges. This change addresses the complexity and opacity of previous fee structures that often deter investors due to unclear or high costs.
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Barclays’ own research reveals that low fees are the single most important factor for 39% of UK adults when choosing an investment service. This underscores how cost influences people’s willingness to invest.
While the £6 fee per individual trade remains unchanged, customers can see substantial savings overall. For example, an investor with £10,000 in shares making six trades annually would pay £36 in transaction fees, down from £61 previously, saving £25 thanks to the removal of the monthly platform fee. Customers trading international shares should note that foreign exchange fees may still apply.
Barclays competes with several high street banks and building societies across the UK, including Santander, HSBC UK, Lloyds, NatWest, Nationwide, TSB, The Co-operative Bank, First Direct, and regional societies such as Nottingham, Skipton, Yorkshire, and Coventry.