The Royal Bank of Scotland (RBS) has launched Royal Bank Invest, a new online investment service that will allow investment from as little as £50.

Customers will be able to link their investments to a financial goal and track performance online, with funds either self-selected or using automated advice. Investment will be either through one lump-sum, a monthly contribution or an ISA transfer.

The Automated Advice service asks customers about their goals, financial situation and attitude to risk, before producing 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.

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, it will suggest an alternative to investing without incurring a charge.

Marcelino Castrillo, managing director of personal and premier distribution, said: “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.”

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