Leaving HSBC's ISA platform

jimjames

gascar said:

I still think the "Settlement period" is a scam. What other financial transaction takes 3 days?

I think you need to revisit what you think a scam is. No money lost with a 3 day settlement unlike a real scam

Mr_Smith_4721

Thanks @gascar for coming back and updating this thread with your experience. I'm currently looking at getting into investing (HSBC FTSE All World index - Acc) and was considering HSBC S&S ISA GIC because of their low platform fee at 0.25%. Although somewhat disappointed as it looks like you can't do any fund dealing via the app, it reads like it's just a view frame and for any kind of portfolio management, you'd need to do it via a PC/laptop.

After reading your experience however, I'm inclined to pay a bit extra (0.2%) and go with HL, who I already have a SIPP acct with from a previous employer. At least you can get in contact with them, with UK based customer services.

I do like the sound of Iweb, but I'd like to do regular monthly investing, and the £5 trading fee would add up over the course of the year. Dodl was also a possibility, but the app has terrible reviews. At least with HL I know what I'd be getting myself in for.

gt94sss2

Mr_Smith_4721 said:

I do like the sound of Iweb, but I'd like to do regular monthly investing, and the £5 trading fee would add up over the course of the year. 

iWeb has just announced that it will be rebranded. As part of this, it will be introducing free regular savings and an app.

https://www.iweb-sharedealing.co.uk/changes.html