If you use Barclays Direct Investing, there’s good news: the bank has scrapped its monthly customer fee entirely. That means it’s now completely free to hold any investments on the platform – no ongoing charge just for having your portfolio sitting there.

Complex fee structures have long been a headache for investors. It’s often tricky to work out exactly what you’re paying and to compare one platform with another. By removing this customer fee, Barclays is aiming to make investing simpler and more affordable, lowering one of the biggest barriers for people thinking about getting started in share trading.

Recent research from Barclays underscores why this matters. Low fees and charges are the single most important factor when UK adults choose an investment service – cited by 39 per cent of people. That highlights how cost can be the make-or-break issue in whether someone feels able (or confident enough) to begin investing.

Sasha Wiggins, Chief Executive of Barclays Private Bank and Wealth Management, put it this way:

“At Barclays, we are committed to making investing more accessible for everyday investors. Whether someone is experienced or just getting started, investing should feel relevant and within reach. By removing our Direct Investing customer fee, we are helping to make it more straightforward for people to take the next step and invest with confidence.”

Why this could help close the investment gap

Cash savings have their place – they’re great for building an emergency buffer and providing financial resilience, but over time, inflation quietly eats away at the real value of money sitting in cash.

Barclays’ analysis shows that over the past 20 years (based on chosen comparators), the real value of cash would have fallen by about 40.5 per cent. By contrast, invested funds would have grown by 21.61 per cent over the same period. That’s a stark reminder of the opportunity cost of staying out of the market for too long.

Barclays’ long-running Equity Gilt Study, which tracks different asset classes, reinforces this. Shares have historically outperformed cash over two-year periods 70 per cent of the time – and that rises to a striking 91 per cent over 10-year periods. Of course, past performance isn’t a guide to the future, and markets can go down as well as up, but the data illustrates why many people eventually decide to put some money to work in investments.

What the change means for you in practice

Portfolio holders: Previously, customers paid 0.25 per cent on balances up to £200,000 (and 0.05 per cent above that). So someone with a £50,000 portfolio will now save £125 a year.

ISA investors: A customer putting £20,000 into funds inside an ISA would previously have paid £50 a year in customer fees. Now it’s £0.

Fund dealing: There’s still no fee from Barclays for buying or selling funds on the platform. The only ongoing cost is the fund manager’s own annual charge (the OCF).

Shares, ETFs, bonds and trusts: The £6 fee per trade remains unchanged. But because the customer fee has gone, the overall cost drops. Example: Someone with £10,000 in shares who makes six trades a year would now pay £36 in trading fees, compared with £61 previously – a £25 saving. (Foreign exchange fees may still apply if you’re trading international shares.)

No exit penalties: There are no fees if you decide to leave the platform.

Overall, this move is part of a broader industry trend towards simpler, more transparent pricing. For many everyday investors, it removes one more layer of friction – making it easier to get money invested and keep it there without worrying about an extra annual bill just for holding assets. As always, it’s worth checking the full terms and considering your own circumstances (and perhaps speaking to an adviser) before making any investment decisions.