Global Investment Centre (GIC) now combines funds with UK shares and ETFs. InvestDirect Plus remains the route signposted for non-GBP shares and ETFs and fixed income. Account choice affects dealing fees, cash arrangements and mobile functions.[1]
Service identity and the platform transition
Sections ↑Entities & regulation01
Which HSBC service this profile covers
| Item | Position |
|---|---|
| Provider | HSBC UK Bank plc, Birmingham; company number 09928412. This profile covers its UK investing service, rather than HSBC’s overseas brokerage offerings.Source 15 |
| Regulatory disclosure | The bank states that the PRA authorises it and the FCA and PRA regulate it, FRN 765112.Source 15 |
| Independent register check | The named FCA page did not render current detailed permissions. The licence claim therefore remains company-reported, pending live confirmation.Source 16 |
| Moving accounts | HSBC says holdings in products now supported by GIC will move automatically. Accounts holding gilts, bonds or international shares/ETFs remain on InvestDirect/Plus until those products become available on GIC.Source 6 |
Account comparison02
Account routes and wrappers
| Route | What it holds | Account structure |
|---|---|---|
| GIC | Funds, ready-made portfolios, UK shares and ETFs. | General investment account (GIA), stocks and shares ISA, or both; each has its own uninvested cash account (UCA).Source 1 |
| InvestDirect Plus | The key-features document includes LSE-listed shares/ETFs, gilts and NYSE/Nasdaq shares. Check the migration boundary before opening. | Separate sterling, euro and US-dollar settlement cash accounts; ISA available.Source 7 |
| Existing InvestDirect | UK sharedealing service with a nominated HSBC bank account. | Purchases and sales debit/credit that bank account on settlement. This differs from pre-funding Plus cash accounts.Source 6 |
Eligibility and opening an account
Sections ↑Account comparison03
Access requirements
| Service | Requirement | Practical condition |
|---|---|---|
| GIC | Age 18+, permanent UK residence; not a US national, citizen or resident. | Qualifying HSBC current/savings relationship; excluded savings products are listed on the application page.Source 1 |
| InvestDirect/Plus | Age 18+ and active HSBC UK current account, excluding Basic. | UK residence normally required; the document has limited Crown-service and pre-September-2014 residence exceptions. Joint applications use the telephone.Source 7 |
| New Plus application | Online banking → Our products → Apply for Sharedealing. | HSBC indicates up to three business days after a successful application. Plus is unavailable inside the mobile banking app.Source 6 |
GIC pricing: holdings and transactions
Sections ↑Pricing & charges04
GIC fees by investment type
| Charge | Shares / ETFs / investment trusts | Funds |
|---|---|---|
| Account fee | £10.50 per quarter for each GIA/ISA that held shares at any time in the quarter. | 0.25% a year on average daily fund value; charged quarterly.Source 2 |
| Dealing | £5 online; £29.95 telephone, per completed trade. | £0 online, telephone and monthly-plan dealing.Source 2 |
| Product costs | ETF/fund-manager charges can remain inside the investment. | Read the relevant fund’s ongoing-cost disclosure.Source 2 |
Pricing & charges05
GIC charges that need separate attention
| Item | Rule |
|---|---|
| Mixed portfolio | Fund and share account charges can apply together. Holding shares in both GIA and ISA produces two quarterly share fees.Source 2 |
| Transfers and duplicate documents | GIC lists no charge for transfers in/out or online replacement statements, tax certificates and contract notes.Source 2 |
| Market taxes | Applicable UK share purchases attract 0.5% SDRT; exemptions include ETFs and certain growth-market shares. The terms specify a £1.50 PTM levy on applicable UK trades above £10,000.Source 3 |
Pricing & charges06
GIC: an annual account-fee example for mixed holdings
| Assumed holding arrangement for the whole year | Annual account-fee calculation |
|---|---|
| Average daily fund holdings of GBP 20,000 | GBP 20,000 × 0.25% = GBP 50Source 2 |
| Shares in one GIA in every quarter | 4 × GBP 10.50 = GBP 42Source 2 |
| Shares also in one ISA in every quarter | A separate 4 × GBP 10.50 = GBP 42Source 2 |
| Combined fund and two share-account charges | GBP 134Source 2 |
InvestDirect Plus and legacy service charges
Sections ↑The current InvestDirect help page still links a tariff headed 26 November 2021, although its footer carries a 2026 copyright. The proprietary charges below reproduce that linked schedule with its date visible. Its historical third-party tax and US SEC examples should not be treated as current rates.[8]
Pricing & charges07
Currently linked InvestDirect/Plus tariff
| Service | Published fee | Qualification |
|---|---|---|
| Account | £10.50 quarterly. | The associated ISA adds no separate account fee in this schedule.Source 8 |
| UK shares / ETFs online | £10.50; Plus frequent-trader rate £7.95. | Lower rate follows nine qualifying executed deals in the same calendar quarter.Source 8 |
| US shares, Plus only | US$29.95 online; US$49.95 telephone. | Currency and third-party charges may also apply.Source 8 |
| Gilts | £39.95 online; £49.95 telephone. | Separate from GIC’s UK share fee.Source 8 |
| Euro-denominated shares | €29.95 online; €49.95 telephone. | Eligible instruments only.Source 8 |
| Stock transfer out | £15 per line. | Transfer-in fee: £0. Confirm which platform holds the stock.Source 8 |
Products and investment selection
Sections ↑Account comparison08
What the service lets an investor do
| Need | Relevant service | Boundary |
|---|---|---|
| Diversified fund investing | GIC fund directory and ready-made portfolios. | The live page advertises over 600 funds and over 1,000 UK shares/ETFs; availability changes.Source 1 |
| US equities | InvestDirect Plus supports NYSE/Nasdaq stocks. | The reviewed documents describe settlement currency accounts, not a retail leveraged-FX dealing account.Source 7 |
| Borrow against investments | Existing Plus Trading Reserve customers. | HSBC no longer accepts new applications for this facility. Its presence in older comparison tables does not mean it can be opened today.Source 7 |
| Individual share decisions | Execution-only dealing. | The investor chooses holdings; research and fund lists do not establish personal suitability.Source 5 |
Mobile access, research and order handling
Sections ↑Platforms & products09
GIC app and browser functions
| Function | Mobile app | Online banking |
|---|---|---|
| Research, place orders, view holdings/documents | Available. | Available.Source 5 |
| Set up/manage monthly plans | Available. | Available.Source 5 |
| Fund switches; ISA transfers/reactivation | Listed as not yet available. | Available.Source 5 |
| Create/amend watchlists; corporate elections; heatmaps | Listed as not yet available. | Available.Source 5 |
Platforms & products10
Order conditions that affect execution
| Situation | How it works |
|---|---|
| GIC funds | Orders use the fund manager’s valuation cycle. Minimum order/holding limits appear in the journey and fund documents; the terms’ £50 examples are not a universal minimum.Source 3 |
| GIC settlement | The contract note gives the settlement date. An ISA trade settles from ISA cash and a GIA trade from GIA cash.Source 3 |
| Legacy fixed-price quotes | HSBC’s current notice warns that quotes can be rejected during volatility. Check order status before assuming execution or resubmitting.Source 6 |
Platforms & products11
GIC execution arrangements
| Order | Published handling | Practical boundary |
|---|---|---|
| Shares and ETFs | HSBC UK acts as agent and routes orders to HSBC Markets & Securities Services, a division of HSBC Bank plc. | That separate group bank can route onward or execute against its own book.Source 4 |
| Fund units | Orders go to the relevant fund manager, which sets the dealing price. | Fund dealing follows its valuation process rather than an exchange’s share quote.Source 4 |
| Execution venue | The policy permits execution outside a regulated market, MTF or OTF. | This can add counterparty and settlement risk.Source 4 |
| Client instructions | GIC does not generally accept a request to select a particular broker or venue. | The policy describes an execution process, not a guarantee of the best result on every trade.Source 4 |
Cash, currency and moving investments
Sections ↑Account comparison12
Cash management
| Service | Process | Limitation |
|---|---|---|
| GIC UCA | Holds sale proceeds and cash awaiting investment. Fund-sale proceeds are generally credited within five business days. | No interest. Reinvest or withdraw deliberately rather than assuming cash earns a savings rate.Source 5 |
| Plus cash accounts | Settles in sterling, euros or US dollars. | A payment requiring conversion uses HSBC’s prevailing exchange rate; the terms do not promise a fixed conversion markup.Source 10 |
| Legacy InvestDirect settlement | Payments follow the nominated settlement account arrangement. | Investments sold must be available for settlement; receipt and delivery depend on the transaction’s terms.Source 9 |
Account comparison13
ISA and transfer mechanics
| Action | Important condition |
|---|---|
| Using an InvestDirect ISA | The ISA is a tax wrapper around eligible investments; eligible holdings and HMRC conditions still apply. Benefits depend on circumstances.Source 11 |
| Moving money out of an ISA | Withdrawal can remove the amount from the wrapper. Use an ISA transfer process when the intention is to preserve its tax treatment.Source 12 |
| GIC ISA transfer or reactivation | Use online banking for the currently supported workflow. These functions are not yet listed for the app.Source 5 |
| Transfer valuation and platform changes | Check whether each holding is supported, whether it moves as stock or cash, and which fee schedule applies once moved.Source 3 |
Custody, complaints and practical limits
Sections ↑Protections & eligibility14
Holding securities and resolving problems
| Area | Position |
|---|---|
| GIC cash status | HSBC holds UCA money as banker, not trustee; FCA client-money distribution rules do not apply. Bank-deposit protection must be assessed separately from securities custody.Source 3 |
| Plus cash status | The Plus terms likewise treat settlement cash as a bank balance outside the FCA client-money regime.Source 10 |
| Plus legal title | Normally HSBC Client Holdings Nominee (UK) Ltd for equity/debt investments and HSBC Stockbroker (Client Assets) Nominees Limited for fund shares. The investor retains beneficial title.Source 10 |
| Custody-chain rights | The June 2026 sharedealing disclosure describes liens/set-off for unpaid obligations and possible third-party custody rights. Segregation should not be interpreted as eliminating every custody-chain risk.Source 13 |
| Protection scope | The key-features document distinguishes eligible investment claims from bank-deposit protection. Coverage depends on the type of claim and applicable scheme rules; investment losses are not a guaranteed repayment.Source 7 |
| Complaint route | Raise the issue with HSBC first. Its complaint information explains escalation and access to the Financial Ombudsman Service when eligible.Source 14 |
Company background & evidence
Sections ↑- Headquarters
- Birmingham, United Kingdom
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
HSBC UK Bank plc
United KingdomSource 15
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Financial Conduct Authority765112 | Not verified | Checked 10 Oct 2026HSBC identifies PRA authorisation and FCA/PRA regulation under this reference. The named FCA page did not render its current permissions during this check; the company statement is not presented as a fresh register verification.Source 15 |
Sources & further reading
- Global Investment Centre: current products and eligibility HSBC UK Bank plc · Accessed 10 Oct 2026
- Global Investment Centre fee schedule, current linked document HSBC UK Bank plc · Accessed 10 Oct 2026
- Global Investment Centre terms and conditions HSBC UK Bank plc · Accessed 10 Oct 2026
- Global Investment Centre best execution disclosure HSBC UK Bank plc · Accessed 10 Oct 2026
- Managing Global Investment Centre accounts HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect migration, current Plus applications and service restrictions HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect and InvestDirect Plus key features HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect/Plus rates and fees: currently linked PDF, dated 26 November 2021 HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect terms and conditions HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect Plus terms and conditions HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect stocks and shares ISA key features HSBC UK Bank plc · Accessed 10 Oct 2026
- InvestDirect stocks and shares ISA terms HSBC UK Bank plc · Accessed 10 Oct 2026
- Sharedealing custody liens and set-off disclosure, 30 June 2026 HSBC UK Bank plc · Accessed 10 Oct 2026
- HSBC complaints and escalation channels HSBC UK Bank plc · Accessed 10 Oct 2026
- HSBC UK legal information HSBC UK Bank plc · Accessed 10 Oct 2026
- FCA firm record: HSBC UK Bank plc; live detail did not render Financial Conduct Authority · Accessed 10 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.