Frequently asked questions

Applying for your HL Fund and Share Account

• Can I open an HL Fund and Share Account in joint names?

  Yes. To apply for an HL Fund and Share Account in joint names you’ll both need to read and agree to the Key Features and Terms and Conditions. You should then send us an application form, signed by both of you, in the post. The joint holder must be over 18. It is not possible to open a joint HL Fund and Share Account online or over the telephone.

  Find out more about opening an HL Fund and Share Account

• Can an account be opened in the name of an investment club?

  As of 27 March 2020, we no longer offer this service.

• Can I open an HL Fund and Share Account on behalf of a child?

  Yes. You can open a Bare Trust using the HL Fund and Share Account to save and invest on behalf of a child.

  Find out more about a Bare Trust

• Can I invest on a monthly basis in the HL Fund and Share Account?

  Yes, you can set up a Direct Debit to invest into FTSE 350 shares, certain investment trusts, some ETFs and funds on a monthly basis.

  You can set up a Direct Debit to invest on a monthly basis subject to a minimum of £25 per investment per month. It is possible to set up the instruction online, either during the application process or once logged into your account online, over the telephone or by sending us an application form.

  Payments will leave your bank account on the 7th of each month (or the next working day if the 7th is not a working day) and investments are made on the 10th of each month (or the next working day if the 10th is not a working day).

  Find out more about Monthly Investing

• What is the minimum I can invest in the HL Fund and Share Account?

  The minimum amount to open an HL Fund and Share Account is just £1. The minimum lump sum investment into a fund is £100.

  Direct Debits can be set up from as little as £25 per investment per month.

Managing your HL Fund and Share Account

• How can I add money to my HL Fund and Share Account?

  Please read the Key Features then you can top up your account in one of three ways:

  Online with a debit card: If you have online access you can add money to your account using a debit card by selecting the 'Add Money' tab once you have logged in. If you don’t have online access, you can register for online access.

  Bank transfer: You can transfer money from a bank account in your name to your HL Fund and Share Account by bank transfer using these details;

  • Bank Account Number: 03124772
  • Sort Code: 30-92-13
  • Account Name: Your full name
  • Reference: Your client number

  Telephone: Please contact us with your debit card details to hand.

  By post: You can send a covering letter, quoting your client number, and cheque made payable to 'HLAM Client A/C'.

  If you're not using a personal cheque (or you’re using a cheque that doesn't have your name printed on it) please ask your bank or building society to verify on the back of the cheque that the money has been drawn from your account. The bank or building society may certify the cheque on the reverse with the wording 'This cheque has been drawn on the account of (your name)'. This must be dated, signed and accompanied by the company stamp

• How do I withdraw money from the HL Fund and Share Account?

  If you have not already done so, you will need to nominate a bank account into which all future withdrawals from your HL account will be made. You can nominate a bank account online or in writing but please note, for your security, you will need to validate an addition or change of your Nominated Bank Account. When you add or change a Nominated Bank Account we will post a validation code to you at your registered address. You then simply log in to your online account and enter the code to confirm the changes.

  Online: To withdraw money to your Nominated Bank Account simply log in, select the account you would like to withdraw from, go to the 'Cash' section and choose 'Withdraw money' from the Quick Links box on the right of the screen. The money will be sent by Faster Payment provided your bank can accept Faster Payments. The maximum you can request to withdraw online each day is £99,999 per account.

  Phone: Provided we have a cleared Nominated Bank Account on record and you have a Secure Number, you can contact us to request a withdrawal.

  Payments will normally be made by Faster Payment where possible and this will be done free of charge. We reserve the right to delay any withdrawals for up to eight working days and return money, whether received by cheque, bank transfer or debit card, to the source from which it originated, subject to normal banking clearance times. Please refer to our Terms and Conditions for further details.

  Although investments are designed for the long term there are times you will want to withdraw money. You can do this at any time. There’s no charge though there may be charges for selling some investments depending on which you hold.

• What happens to any income from my investments within the HL Fund and Share Account?

  An HL Fund and Share Account can be set up to treat income in one of three ways:

  Reinvestment: Income will be held within your account and accumulated until it reaches or exceeds £10 per holding, when it will be automatically reinvested, or you can choose your own reinvestment level between £10 and £1,000. Reinvestments are made between the 11th and 21st of each month (or as soon as practicable thereafter). You won't pay dealing charges but for overseas shares, our normal foreign exchange charges apply.

  Hold as cash: Income will be held on your account pending your further investment instructions.

  Pay out to your nominated bank account: Income will be paid out directly to a nominated bank/building society account. This payment will be made within 10 working days following the end of each month.

  The instruction you give will apply to all income paying holdings within your HL Fund and Share Account.

  It is not possible to opt for scrip dividends in place of a cash dividend.

• What will happen to cash held in a HL account and how is interest calculated?

  Within each HL account cash is held in two separate cash management accounts, the Income account and the Capital account. Any dividends or tax credits you receive are paid into your Income account. Any other payments you make into your HL account are held on the Capital account.

  The interest on cash held in your Capital account is calculated on a daily basis and credited to your HL account within the first 10 working days of each month.

• What are the interest rates paid on cash held in my HL Fund and Share Account?

  You can see the current interest rates paid in our accounts here.

• How often will I receive a valuation, statement and tax schedule?

  You will receive two investment reports each year providing a valuation and statement of your account. The reports are published in May and November. In addition to your valuation and statement, we will send you a consolidated tax certificate with your May investment report which will detail all the income received into this account and the tax deducted.

  If you have opted for our paperless service, you will receive email notification when the investment reports are available to view online. Otherwise the report will be sent in the post.

Fees and charges

• When do you collect fees and charges?

  Management fees are charged on a monthly basis and are calculated based on the value of your holdings at the end of each month. They are collected in the next month.

• What is the Suggested Minimum Cash Balance?

  The Suggested Minimum Cash Balance is designed to give you an idea of the amount of cash you should hold to meet the next few months’ fees, and other outgoings. However, it is just a suggestion and you can ignore it (or amend it) if you wish.

  The Suggested Minimum Cash Balance provides a good guide to how much cash you could hold, but as the value of your holdings will rise and fall, so will your fees. You may wish to adjust the cash balance you hold if there is a significant change in the value of your holdings.

• Where can I see the fees or charges that have been applied to my account?

  You can view the management fees and charges which have been applied to your account by logging in and going to the Account Administration section of each account you hold. You then simply need to click on the ‘view history of fees charged’ link.

• How will you collect fees and charges if there is insufficient cash on my account?

  If there is insufficient cash on your account and in the HL Fund and Share Account to pay, we will sell sufficient holdings to cover the amount owed and restore the suggested minimum cash balance. There is no additional charge for this.

• Will you tell me before you sell my holdings?

  We provide a notification service to let you know if you have insufficient cash on your accounts to pay fees due and your investments are at risk of being sold. You will then be able to add money (allowances permitting), or sell holdings of your choice to raise money, and therefore avoid your investments being automatically sold. This is an opt-in service so please set an email alert now.

• How do I pay my fees and charges?

  We collect fees and charges from available cash on your account.

  Our system will look to collect fees in this order:

  • Loyalty bonuses received on units purchased before 1 April 2014. If no loyalty bonuses then;
  • Cash in the account in which the fees were generated (income account first, then capital account). If no cash on the account then:
  • We’ll sell some of your investments to cover fees, from the account in which the fees were generated. There is no additional charge for this.
• What is the annual management charge in the HL Fund and Share Account?

  It's free to hold shares, investment trusts, bonds or gilts and ETFs.

  Fund charges are tiered within bands starting at 0.45% per annum on the first £250,000 of funds, 0.25% per annum on the value between £250,000 and £1m, and 0.1% per annum on the value of funds between £1m and £2m, and no charge on the value of funds over £2m.

  Find out more about our charges

Transferring investments

• Can I transfer other shares into the HL Fund and Share Account?

  Yes, you can transfer the following into a Fund and Share Account:

  • Funds
  • UK and overseas shares
  • Corporate and government bonds
  • Exchange Traded Funds (ETFs)
  • Investment trusts

  If you're already a client, you may be able to transfer online. Otherwise, it takes five minutes to download and fill in a form.

  It's free to transfer to us, but some companies may charge exit fees. It's a good idea to check whether yours does before transferring.

• Can I transfer investments in my HL Fund and Share Account to another provider?

  Yes. There are no charges to transfer your investments as cash or as stock, to another provider. There is also no charge to close your account.

  View our charges

  For more information call our Helpdesk on 0117 900 9000.

• Can I transfer shares held in someone else's name into my HL Fund and Share Account?

  Yes, share certificates and shares held with another broker initially need to be transferred into a HL account in the shareholder’s name. Therefore the owner of the shares will need to complete the HL Fund and Share transfer form in their own name. From there, we can arrange an internal transfer of the shares into your name provided the shareholder sends a signed letter of instruction to gift the shares to you, stating that once they have been gifted, they will have no further claim over them. There is no charge to transfer stock from one Hargreaves Lansdown account to another.

  Find out more about our charges

  Please note: you must have an active HL Fund and Share Account open to receive the shares.

  If you don't have one, find out more about opening a Fund and Share Account.

• What happens to my Fund and Share Account when I die?

  Any cash or investments you hold with HL can be passed on to your loved ones. For anything held outside of a pension, you should plan ahead and make a Will. Options will depend on the type of accounts you have.

  Find out more