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Barclaycard sets up iMoney supermart

Barclaycard is the latest player to join the online supermarket scramble with a service offering a wide range of financial products.

iMoney starts this summer, offering consumers mortgages, unit trusts and car, home and travel insurance online.

Barclaycard says the service will provide details of fund managers&#39 past performance and technical information on the products but not advice.

It plans to expand the service to savings products, loans, Isas, life insurance, pensions and stocks and shares in the near future.

The service, which is a joint venture between Barclaycard and Toronto-based online financial services provider Bayshore Capital, says it will will provide an “unbiased online service that helps consumers compare, choose and buy the best financial products for their circumstances”.

Holden Meehan director Amanda Davidson says: “There is a thin line between advice and information and they may trip over it but few IFAs will be in competition with this sort of service.”

Barclaycard will own 87 per cent of the venture with Bayshore Capital owning the remaining 13 per cent.


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