HSBC Investment ISA
HSBC Holdings plc is a British banking and financial services company, one of the world’s largest banks by total asserts it is based in Canary Wharf, London. HSBC currently offer a stocks and shares ISA as well as other types of ISA. All their accounts take transfers in but many are limited to HSBC customers. They offer other stocks and share investment options aside from their ISA.
Choosing an investment ISA
It’s wise to shop around ISA providers before committing to any one product, as you can only open one of each ISA per tax year, although it may be possible to transfer accounts. When looking for an Investment ISA you may want to consider things such as minimum investment charges and the range of products it allows you to invest in.
Use the tables on this website to compare a selection of different types of ISA a from a variety of providers. Follow the links to find out more or apply.
HSBC Investment ISA Review
World Selection Investment ISA
- Advertised as a simple way to invest at your preferred level of risk
- Exclusively available for HSBC customers
- Withdraw or top up any time
- Benefit from a ready-made portfolio which is managed by their team of professional
- Benefit from a range of asset classes, geographies and currencies
- There is no initial charge on the account but an annual account fee applies
You can open this account with a £1000 lump sum or £50 per month minimum investment.
About Investment ISAs
Investment ISAs are not normally investments in their own right but they are an account that holds money for an individual to vest in ‘qualifying investments such as government bonds and corporate bonds as well as shares and stocks. They are generally available as either self-select ISAs that allow you to invest directly into stocks and shares or as collective investment schemes. Investment ISAs are referred to as ‘tax-efficient’ wrappers, as there is no capital gains tax to be paid on gains made on investments held within the wrapper.
It is important to remember with this kind of option your capital is at risk, as the investments you make could go down as well as up in value, so you could get back less than the amount you originally put into the account.
Transferring an ISA
HSBC allows transfers in to their account. It’s important to remember that ISA accounts do not have to permit transfers in. However, ISA providers do have to permit account holders to transfer their account to another ISA, this can be with either the same provider or a different one. Some ISAs will also impose a penalty charge for transferring out.
This means that while it can be beneficial to periodically check if you could get a better deal elsewhere, before moving it can be wise to first consider if any charge you would incur would actually negate the potential benefits of switching ISA.