How to create an ISA with HSBC?

dllive

Hi

Im interested in creating a S&S ISA with HSBC, but I cant find any link on their website to do this. Perhaps Im going blind! Has anyone else created an ISA with HSBC? Im not an existing customer, so perhaps thats why I cant see nay links for it.
Thanks

ColdIron

A 2 second google shows this

https://www.hsbc.co.uk/investments/isas/

This may be better placed on the Savings and Investments board

eskbanker

A wider question - why are you looking to open (the more normal term) an S&S ISA with HSBC, especially if you're not a customer already?

They don't seem particularly competitive - https://www.moneysavingexpert.com/savings/stocks-shares-isas/ offers thoughts about the market and a cost-based comparison is available at https://monevator.com/compare-uk-cheapest-online-brokers/

Edit: as below, it's a generalisation to say they're uncompetitive, so check the above link to see how they compare with others for the specific investment profile you have in mind....

born_again

Even M Lewis is saying ISA are pointless due to poor interest rates. Unless you have other savings that give you over £1K (std rate tax payer) or £500 (higher rate tax payer) interest a year
Anything less you might as well go for one of the banks that are offering a higher interest rate.

eskbanker

born_again said:

Even M Lewis is saying ISA are pointless due to poor interest rates. Unless you have other savings that give you over £1K (std rate tax payer) or £500 (higher rate tax payer) interest a year
Anything less you might as well go for one of the banks that are offering a higher interest rate.

OP is talking about S&S ISAs, whereas Martin Lewis's glib (but broadly correct) advice relates specifically to cash ones....

dllive

I still cant see how to open a S&S ISA! 

I choose the HSBC Global Strategy (Dynamic)  on this page: https://www.hsbc.co.uk/investments/isas/hsbc-global-strategy-portfolios/ which takes me to Invest with an ISA (Dynamic Portfolio) . I presume I then have to select "Register for Online Banking", it then asks me for my HSBC account details (which I dont have as Im not an HSBC customer). Im missing something obvious here.

northwalesd

On that page it says:

"Who can apply?

You can invest in one of our ready-made portfolios if:

you’ve got an HSBC current account or savings account (excludes Online Bonus Saver and Fixed-rate Saver)"

If you don't already have one of those products then you can't open a S&S ISA with them. I assume you haven't since you say you're not an HSBC customer.

As others have already pointed out, they don't seem particularly competitive.

Daliah

dllive said:

I still cant see how to open a S&S ISA! 

I choose the HSBC Global Strategy (Dynamic)  on this page: https://www.hsbc.co.uk/investments/isas/hsbc-global-strategy-portfolios/ which takes me to Invest with an ISA (Dynamic Portfolio) . I presume I then have to select "Register for Online Banking", it then asks me for my HSBC account details (which I dont have as Im not an HSBC customer). Im missing something obvious here.

A major question remains: why you have chosen HSBC as your preferred S&S ISA platform?

kaMelo

Everyone's circumstances vary and it is these variables what determine whether the platform is competitive or not. Whilst HSBC may not have the widest rage of funds to choose from I don't think it's fair to make a blanket statement that they are uncompetitive any more so than any other online platform, at 0.25% they're certainly not an outlier in terms of charges.

To those who say they are uncompetitive, why?

MDMD

kaMelo said:

Everyone's circumstances vary and it is these variables what determine whether the platform is competitive or not. Whilst HSBC may not have the widest rage of funds to choose from I don't think it's fair to make a blanket statement that they are uncompetitive any more so than any other online platform, at 0.25% they're certainly not an outlier in terms of charges.

To those who say they are uncompetitive, why?

If the fund you want is on their platform (E.g. HSBC GS or their All World fund) can use them to make purchases and then make periodic in specie transfers to someone like iWeb and therefore avoid paying their £5 per trade.  Useful if you are making regular purchases from income.

kaMelo

MDMD said:

kaMelo said:

Everyone's circumstances vary and it is these variables what determine whether the platform is competitive or not. Whilst HSBC may not have the widest rage of funds to choose from I don't think it's fair to make a blanket statement that they are uncompetitive any more so than any other online platform, at 0.25% they're certainly not an outlier in terms of charges.

To those who say they are uncompetitive, why?

If the fund you want is on their platform (E.g. HSBC GS or their All World fund) can use them to make purchases and then make periodic in specie transfers to someone like iWeb and therefore avoid paying their £5 per trade.  Useful if you are making regular purchases from income.

Exactly my point, circumstances dictate what platform is competitive rather than " HSBC are uncompetitive" as mentioned here by multiple posters without qualification or explanation as to why they think they are uncompetitive.

The OP mentioned about opening a S&S ISA, unless they are considering transferring in other ISA's then the maximum amount invested this tax year would be £20,000. Unless you want Vanguard funds and use Vanguard's platform, for that sum of money HSBC is the most competitive platform of all.