Investing more than 10k with H & L

MarcoM

Hi,

If a customer wants to invest 10s of thousands through an index tracker via a platform such as H & L which is the best way to transfer the money to them?

I know that when you open an account with them they take money via debit card online but I have not seen any reference to the possibility of paying into an account via cheque or chaps.

Has anyone done this?

Thanks

Richie(UK)

Hi,

Direct from the horse's mouth:

Can I invest on a monthly basis?

You can set up a Direct Debit to invest into a fund on a monthly basis in a Vantage Stocks & Shares ISA. It's possible to set up the instruction online or by sending us an application form. The minimum monthly amount to set up regular savings online is £50. If applying for a regular savings plan into the Vantage Stocks & Shares ISA by post, the monthly minimum is £100 (subject to a minimum of £50 per fund).
Payment will leave your bank account on the 7th of each month (or the next working day if the 7th is not a working day) and investments are made on the 10th (or the next working day if the 10th is not a working day).

westy22

From the HL T&Cs:

That is only for their currency exchange FX service - nothing to do with the HL platform as such.

You can post a cheque to HL with a covering letter stating the account number to which it is to be credited.

From the H-L site:

How can I add money to my Vantage Fund & Share Account?
Please read the Key Features then you can top up your account in one of three ways:

Online: If you have online access you can add money to your account using a debit card by selecting the 'Add Money' tab once you have logged in.

Telephone: Find out about topping up your account by phone.

By post: You can send a covering letter, quoting your client number, and cheque made payable to 'HLAM Client A/C'. If you're not using a personal cheque (or you are using any cheque that doesn’t have your name printed on it) please ask your Bank or Building Society to verify on the back of the cheque that the money has been drawn from your account. The Bank or Building Society may certify the cheque on the reverse with the wording ‘This cheque has been drawn on the account of (your name)’. This must be dated, signed and accompanied by the company stamp.