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HSBC stocks and shares ISA

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jumbopants
jumbopants Posts: 23 Forumite
in Savings & investments
Hi All,

Just signed up to save £300 a month in a HSBC stocks and shares ISA, I've got 18300 in a cash isa incl. the full allowance for this year, and I'm in the process of transfering this to the Natwest 3.6 rate. Plus I'm saving around 1K a month so stocks and shares ISA looks like the best way to go for a further 3.6k unless anyone can advise a better option. I have a 7day cooling off period from the HSBC so no worries to cancell at the moment...

Many thanks in advance for any help/advice if stocks and shares is the way to go...!!:D

Comments

  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    Well telling us its a HSBC Stocks and Shares ISA doesn't really tell us anything apart from HSBC are the provider.

    Whats inside the ISA? What are you actually investing in? What are the charges?
  • jem16
    jem16 Posts: 19,406 Forumite
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    jumbopants wrote: »
    Hi All,

    Just signed up to save £300 a month in a HSBC stocks and shares ISA,

    S&S ISA is fine as long as you know it's a long term investment.

    However getting it from a bank is a bad idea. Their products are limited and more expensive than you can get elsewhere. If you want to pick the funds yourself go to Hargreaves Lansdwown, otherwise see an IFA for advice on what funds to choose.
  • Baldur
    Baldur Posts: 6,565 Forumite
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    jumbopants wrote: »
    .......I'm in the process of transfering this to the Natwest 3.6 rate.
    If your Natwest eISA wasn't opened before 14th May, make that 2.5% - http://www.natwest.com/personal/savings/g2/isas/e-isa.ashx#section2
  • dunstonh
    dunstonh Posts: 116,836 Forumite
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    Hopefully, with £300pm, you were recommended a minimum of 3 funds but ideally 6. If you are going to put a decent monthly amount in and this is the extent of your investments then you really dont want to have it stuck all in one or two funds.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • malik999
    malik999 Posts: 376 Forumite
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    Baldur wrote: »
    If your Natwest eISA wasn't opened before 14th May, make that 2.5% - http://www.natwest.com/personal/savings/g2/isas/e-isa.ashx#section2

    Additionally it was never 3.6 for a transfer in allowed ISA with Natwest
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