First time posting, but have been reading and lurking for a while!
I have a couple of questions about stocks and shares ISAs that I haven't been able to find addressed anywhere, that I'd be really grateful if you could help me with - please excuse my ignorance!
1. How are stocks and shares ISAs represented visually in online banking? Do you see a 'balance', like with savings accounts - would the 'balance' fluctuate day by day according to success/failure of the investments? Do they appear alongside your other accounts (e.g on HSBC dashboard?)
2. Does anyone have any experience with HSBC 'World Selection' ISA? I'd be really interested to hear if it's worked for you.
Thanks a lot in advance!
Chloe
First time posting, but have been reading and lurking for a while!
I have a couple of questions about stocks and shares ISAs that I haven't been able to find addressed anywhere, that I'd be really grateful if you could help me with - please excuse my ignorance!
1. How are stocks and shares ISAs represented visually in online banking? Do you see a 'balance', like with savings accounts - would the 'balance' fluctuate day by day according to success/failure of the investments? Do they appear alongside your other accounts (e.g on HSBC dashboard?)
What you see depends on which platform you are using, but int general you should see the current value of the ISA.
Yes it would change daily as the underlying value of the investments changed.
2. Does anyone have any experience with HSBC 'World Selection' ISA? I'd be really interested to hear if it's worked for you.
Thanks a lot in advance!
Chloe
HSBC do have some good funds, but I'd hesitate over using their ISA as it is limited to a small range of funds and the charges for them are pretty high.
You'd be better or finding the funds you want to invest in (HSBC Global Strategy would actually be a good contender) and then doing this on the most cost effective platform. As a comparison, the HSBC World Selection ISA - investing in their Balanced fund would cost 1.06%, but investing in HSBC Global Strategy Balanced via Cavendish Online would cost 0.43%.