HSBC UK has scrapped the minimum of £1,000 for using its online advice service My Investment as the competition between banks offering robo-advice services increases.
Investors can now invest only £50 a month and HSBC anticipates the lower entry point allowing an additional 1.8 million of its customers to invest funds in the service.
James Hewitson, head of wealth and advice at HSBC UK, said: "It's more important than ever to take a long-term look at our finances. Investing cash early on can make your money grow and help to avoid financial regrets later in life.
We want to break down these barriers and make investing a good alternative to putting a bit away in a savings account each month"
"Many people think that you need a lot of spare cash to start investing or that it's overly complicated.
"We want to break down these barriers and make investing a good alternative to putting a bit away in a savings account each month. £50 a month is only the beginning and you can increase your monthly payments in future. The important thing is to start small, but think big."
The changes follow YouGov research commissioned by HSBC UK in March which found one in three people considered investing as the best way of increasing their money, but almost half ultimately did not invest and regretted it later in life.
The poll also found that Generation Z (18 to 24 years old) are more likely to invest than any other age group, with one in 10 saying they would invest in stocks and shares.
HSBC UK launched online advice service My Investment in December 2018. The service complements HSBC's wealth management telephone and face to face support. All advice given is regulated by the FCA.