HSBC to add investment feature to banking app
A choice of 10 ready-made global portfolios will be available to users that cater to different risk appetites.
Once the fund selection has been made, investors choose whether they want to save within a stocks and shares Isa or open a Global Investment Account. Both can be set up from the app.
To access the investment feature users will need to download the new version of the app to their phones.
James Hewitson, head of wealth management at HSBC UK, said: “Around 389,000 of our customers aged under 35 have sufficient assets to invest but are currently not doing so. If you have an emergency fund of three to six months of living costs and can afford to put away at least £50 a month, then investing can really help you grow your money.”
The new update will be available from the App Store for iOS and Google Play Store for Android by the end of December.