NatWest's New Feature For Online Banking Customers, Explained

NatWest, a UK-based retail and commercial bank, announced Thursday a new feature for its online banking customers.

According to Finextra, NatWest's new feature will let its customers invest as little as £500 ($625) in various investment funds with different levels of risk. Users can select a fund based on their personal financial goal, such as saving money for a house or vacation.

Clients that use the new service will be able to monitor the performance of their investment online. The feature will be launched within the next 10 days and is geared towards clients who don't feel it necessary to pay financial professionals for advice and want to make their own decisions.

Financial Times noted that the funds carry a maximum charge of 0.95 per cent and can invest in funds across the world.

Les Matheson, the company's chief executive of personal and business banking, noted that this feature serves as a clear indication that more people want to invest money without the costly fees of professionals or don't want to visit branches and speak with a professional face to face.

"We're focused on helping our customers to get on in their lives and to achieve their financial goals," Finextra quoted Matheson as saying.

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