Interactive Investor (ii) has added instant payments with the introduction of Natwest’s Payit.
Payit allows for faster payments through open banking technology, without the need for users to input any card or bank account details.
In an email on Wednesday 20 November, ii stated: “You can expect instant bank payment to be available over the next seven days on the ii website, or you’ll need to make sure you’re using version 6.11.0 or later of the ii app to use the feature.”
ii users can access the option by clicking the “Add cash” button from the platform’s “Cash” menu. At first, they will be asked to link their bank account – with the option to add up to three different accounts.
The update comes after ii recently launched its own social media app, ii Community, and also added two new investment tools to its main platform.
The new ii Community app allows users to discuss investment tips, stock picks and compare portfolios free of charge
The app enables users to chat with other investors, as well as share ideas and investment strategies. ii aims for it to connect with the growing influence of social media on DIY investors.
That came alongside the addition of two new graphical features to the platform: Market Buzz and Fundamental Insight.
Market Buzz shows users which stocks are trending through bubbles highlighting the amount of mentions they are getting in news and media.
Fundamental Insight provides a simple breakdown of complex data in the form of graphs and incorporates scores by research portal Trading Central on key factors affecting investments.
The Good Money Guide’s review of ii notes a key highlight of the platform is that it charges a fixed account fee, rather than a percentage of finds on account ”which, over time, could save you thousands in costs”.
The broker is owned by Edinburgh-headquartered investment giant abrdn and has more than £50 billion in assets under and 400,000 customers.
It offers services including ISAs SIPPs and share dealing, alongside research and analysis.
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
