Direct Investing fees explained
Understanding your investment costs
Our fees are simple to understand, and we keep our costs low to help your money grow.
Direct Investing, the new name for Smart Investor.
Our costs and charges
Holding your investments with us
Free
No customer fee* on all investment accounts
Regular investing
Free
Available for funds, UK shares, ETFs and investment trusts
Buying or selling funds
Free
This includes our Ready-made Investments
Buying or selling shares
£6 per trade
Including ETFs, Investment trusts, bonds and gilts
*Customer fee is defined as the amount you pay to hold your investments with us and is sometimes referred to as a custody fee. This was charged as a percentage of the value of your investments (excluding cash) across your accounts and was taken monthly.
£25 per trade by telephone. Taxes may apply when buying shares. A foreign exchange and an international brokerage fee will be charged when trading international shares.
Funds, ETFs and investment trusts all have their own built-in fees that cover the costs of running the fund.
Award-winning investment platform
We were voted Best Buy ISA 2026, Best for Customer Service 2026 and Value for Money Winner 2026 from Boring Money.
Fund management costs
Funds, ETFs and investment trusts all have their own built-in fees that cover the costs of running the fund. They are taken directly from the fund’s assets – and are factored into the return you get.
It’s important to check product charges before investing. You can find these and all other information and key documentation on the investment's product page on our website. Just use the search to find the investment you're looking for.
Pension account administration
If you have a Nova Bank SIPP, you'll pay an additional £125 + VAT per year to AJ Bell . This covers managing your pension. AJ Bell is a UK investment platform that provides services to both individual investors and financial advisors.
Learn more about SIPP fees [PDF, 524KB]
Interest rates
You’ll earn interest on any uninvested cash you hold in an Investment ISA and SIPP account.
If you hold an Investment Account, you can decide if you’re happy for us to automatically transfer any uninvested cash from your Investment Account to your Investment Saver . You can do this by selecting the option within the Investment Settings section of the website.
This won’t have any impact on your ability to trade as we will automatically move any cash needed to your Investment Account to fund investments, corporate actions and fees as required.
If you opted out of the Investment Saver, but would like to opt back in, please contact us.
Current rates
Nova Bank Investment Solutions Ltd holds all uninvested cash as Client Money with a selection of approved banks or other third parties. View details of the current panel.
We may receive bank interest on Client Money held in Client Money Bank Accounts. This will be retained by us and not paid to you. However, we may pay you a contractual rate of interest on your Client Money at rates determined by us and set out on our website. The rate of contractual interest is subject to change (upwards and downwards) and in certain circumstances we may cease to be able to pay it.
Interest is paid on the first day of each month, based on the cash held in your account the previous month. Rates may change from time to time. AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.
Foreign exchange fees
We charge a fee for converting currency when you buy and sell international shares. This fee depends on the amount traded.
First £5,000: 1% fee
Next £5,000: 0.75% fee
Next £15,000: 0.5% fee
Next £225,000: 0.25% fee
Over £250,000: 0.1% fee
You’ll see the fee before you trade and on your contract note (after you’ve done the trade).
We use a Nova Bank Group company for currency exchange – and aim to get you the best possible exchange rate. Please also note that currency fluctuations can affect the value of your investments.
Taxes and levies
You may need to pay taxes and levies when buying shares. These rates vary by country and can change.
UK taxes and levies
International taxes and levies
International brokerage charge
Learn about Direct Investing
Start from £50
You can make one-off payments, set-up a regular monthly Direct Debit, or transfer existing investments to fund your account.
Secure
With 300 years’ experience and the latest technology, your money is in safe hands.
Easy to manage
You can can open an account, place a trade and check your investments anytime within Online Banking or the Nova Bank app.(1)
Wide investment choice
Choose from 8,000 investments across shares, funds, Exchange Traded Funds, gilts and bonds, investment trusts and more.
Investments can fall as well as rise so you might not get back what you invest. If you’re unsure which investments are right for you please seek independent advice. Tax rules can change, and any benefits depend on your circumstances.
View our range of accounts
Investment ISA
An Investment ISA is the most popular account. It’s tax-efficient so you won’t pay UK income or capital gains tax on any returns you make. You can invest up to £20,000 per tax year and withdraw your money at any time.
Investment Account
An Investment Account is ideal if you’ve already used your ISA allowance. It has no upper limit. You’ll earn interest on any cash held in this account and can withdraw your money at any time.
Looking for Smart Investor?
Direct Investing is the new name for Smart Investor. We’re making this change because we want to provide more clarity that this service is for customers who want to make their own investment decisions.
You can choose from thousands of investments including funds, shares, gilts and bonds, and take advantage of our expert insights, research tools and resources to inform your decisions.
FAQs
No, there are no hidden charges with Nova Bank Smart Investor. We believe in complete transparency. All fees are clearly outlined, and there are no unexpected costs.
If you don't pay your fees on time, we may take action to recover the money. This could include selling some of your investments.
The amount of cash you hold depends on your personal circumstances. General market guidance is to aim for 3-6 months' living expenses as an emergency fund. Consider your financial goals, risk tolerance and the time period you’d be happy to hold an investment for when deciding how much cash to keep.
An Investment ISA (Stocks and Shares ISA) is a tax-efficient account meaning you don’t pay UK income or capital gains tax on any returns you make. It’s a flexible way to grow your money, allowing you to invest in shares, exchange-traded funds (ETFs), funds, bonds and more. Investments could also provide higher returns than cash over the long term .
An Investment Account is a flexible way to invest your money in shares, investment funds and other assets. Unlike ISAs, there's no annual limit on how much you can invest and any returns or income from your investments will be subject to tax. So, it's a great option if you've used up your ISA allowance or want to invest larger sums. You can also easily access your money when you need it.
A Self-Invested Personal Pension (SIPP) is a tax-efficient way to save for retirement. You have control over your investments, choosing from a wide range of options like shares, funds and bonds. There are potential tax benefits while building a pension pot tailored to your financial goals.
Get help or contact us
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Important information
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You need to be 18 or over to access this product or service using the app. (Return to reference)
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Lines are open from 7:30am to 7pm Monday to Thursday, 7:30am to 6pm on Friday and closed during weekends and public holidays. To maintain a quality service, we may monitor or record phone calls. Call charges.(Return to reference)