Transfer of Asset Management products

Starting from 18 September 2022, your account and investment products will be available to you on Alawwal Invest trading platforms.

Today (18 September 2022)

Your holdings have been transferred to new investment accounts at Alawwal Invest. You can redeem and subscribe through Alawwal Invest platforms.

How we’re transferring your relationship

We have migrated all your investment products to Alawwal Invest.
Your new investment portfolio and account have been automatically displayed on Alawwal Invest trading platforms, SABBNet and SABB Mobile.
Your fees, charges and terms and conditions remain the same.

Do you have any questions?

Has my Log in User ID & Password changed?

For HSBC Saudi Arabia only customers (i.e. customers who do not have an Account / Portfolio with Alawwal Invest):

For customers with a single phone number registered with HSBC Saudi Arabia, you are able to use your existing HSBC Log in User ID & Password to access your new accounts in Alawwal Invest.

For customers with multiple mobile numbers registered with HSBC, you have received an SMS indicating the transferring mobile number. You are able to use the credentials associated with that number at Alawwal Invest.

For HSBC Saudi Arabia & Alawwal Invest customers (i.e. Customer who have Accounts / Portfolios with both companies):

You are able to use your existing Alawwal Invest Log in User ID & Password to access your newly transferred & existing Accounts / Portfolios.

For customers that are not registered on either online channels at HSBC Saudi Arabia or Alawwal Invest

Customers who are not registered with HSBC Saudi Arabia or Alawwal Invest need to register and create a new User ID & Password. To access Alawwal Invest’s online platform, please visit the below link:

https://www.alawwalinvest.com/ebroker/

For further guidance on using the trading platform, please visit the following link https://www.alawwalinvest.com/ebroker/ or contact us via 8001242442

For further guidance on how to register, please visit the following link https://www.alawwalinvest.com/ebroker/ or contact us via 8001242442

Q1.Has my HSBC Saudi Arabia Investment Account number changed?

Yes, your Investment Account number has been changed at the close of business on 15 September 2022. You can view your new Investment Account Number under the “My Account” menu on SABB Net and SABB Mobile. You can access SABB Net with the following link:

https://www.services.online-banking.sabbnet.com/gpib?locale=en_US

Q2. I am an Alawwal Invest customer. How can I transfer funds in and out of my investment / current account?

You can transfer funds in and out of your investment or current accounts via the usual Alawwal Invest and SABB channels, that can be found below:

https://www.services.online-banking.sabbnet.com/gpib?locale=en_US

Alawwal Invest: https://www.alawwalinvest.com/ebroker/

Q3. Do I need to add my new Alawwal Invest Account as a beneficiary in SABB?

No, your new Alawwal Invest Account has been automatically added as a beneficiary in SABB and will become active on 18 September 2022.

Q4. I am a former HSBC customer. Can I transfer money in and out as usual using the SABBNet / Alawwal Invest online platform?

Yes, you can now transfer funds in and out as normal.

Q5. Will I continue receiving eligible dividends in my New Alawwal Invest Account?

Yes, any eligible dividends for the stocks in your portfolio with Alawwal Invest have been, and will continue to be, deposited into your new Investment Accounts starting from 18 September 2022.

Q6. Has my Investment Account balance with HSBC Saudi Arabia been reflected in the New Investment Account at Alawwal Invest?

Yes, the account balance in your previous Investment Account with HSBC Saudi Arabia has been reflected in your New Alawwal Invest Account at the close of business on 15 September 2022.

Q1.I was a Mutual Fund client of HSBC Saudi Arabia. What has happened to my investments?

All Investment Funds of HSBC Saudi Arabia have been moved to Alawwal Invest at the close of business on 15 September 2022 and your investments in Mutual Fund units have also been transferred to Alawwal Invest at the close of business on 15 September 2022. No action is required from you at this moment.

Q2. Have there been any change in the Mutual Funds’ Names & Strategy post transfer of business to Alawwal Invest?

The Mutual Funds names have changed from HSBC to Alawwal Invest as they have been transferred to Alawwal Invest. The strategy of the funds continue to remain in line with the Prospectus and the Terms and Conditions of each fund.

Q3.I had Mutual Fund Investments with both Alawwal Invest & HSBC Saudi Arabia. What happened to my Mutual Fund Investments? Do I need to sign new fund terms and conditions?

No, you do not need to sign new terms and conditions. Your Mutual Fund investments with both Alawwal Invest and HSBC Saudi Arabia will continue in the same way under the same terms and conditions from from the close of business on 15 September 2022, with the exception of a potential name change from HSBC Saudi Arabia to Alawwal Invest for the transferred Investment Funds from HSBC Saudi Arabia.

Q4. Can I see my Mutual Fund holdings on the Alawwal Invest platform?

Yes, you can view your former HSBC Mutual Fund positions on the Alawwal Invest platform.

For more guidance on how to access Alawwal Invest’s online platform, please visit the below link: https://www.alawwalinvest.com/ebroker/

Q5. Can I subscribe or redeem in Mutual Funds using the Alawwal Invest platform?

Yes, you can subscribe and redeem in Mutual Funds using the Alawwal Invest platform. For more guidance on how to access Alawwal Invest’s online platform, please visit the below link: https://www.alawwalinvest.com/ebroker/

Q6.Can I transfer Mutual Funds redemption proceeds to my current account with SABB using the Alawwal Invest platform?

Yes, you can transfer your Mutual Funds redemption proceeds to your current account with SABB using the Alawwal Invest online platform. For more guidance on how to access Alawwal Invest’s online platform, please visit the below link: https://www.alawwalinvest.com/ebroker/

Q1. Why are you transferring my account / holdings to Alawwal Invest?

HSBC Saudi Arabia entered into an agreement to transfer its Asset Management, Retail Brokerage and Retail Margin Lending businesses (together, the “Transferring Businesses”) to Alawwal Invest, a wholly owned subsidiary of the Saudi British Bank (“SABB”). This is why your account / holdings have been transferred to Alawwal Invest.

Q2. Why has it been transferred to Alawwal Invest not SABB?

Alawwal Invest, is a wholly owned subsidiary of the Saudi British Bank (“SABB”) regulated by the Capital Markets Authority. SABB (Saudi British Bank) is a commercial bank, that offers products and services outside of the scope of individual investors, hence, HSBC Saudi Arabia’s Asset Management, Retail Brokerage and Retail Margin Lending Businesses have been transferred to Alawwal Invest, which is licensed by the CMA to deal with these products and services.

Q3. What if I want to maintain my relationship with HSBC Saudi?

As per the entered agreement, HSBC Saudi Arabia no longer deals in Asset Management, Retail Brokerage and Retail Margin Lending businesses. However, Alawwal Invest, which is a wholly owned subsidiary of the Saudi British Bank (“SABB”) will continue to serve your investment needs, while striving to enhance digital capabilities and maintaining customer connectivity across all branches.

Q4. Do I need to fill a new ‘Know Your Customer’ - KYC /on-boarding form with Alawwal Invest?

No clients who have a valid / updated KYC, do not have to fill in new KYC / On-boarding forms with Alawwal Invest. However, in the case of an expired KYC, customers need to update their details with Alawwal Invest to ensure that their KYC is up to date and in line with regulations.

Q5.Do I need to update my ID information?

No, you don’t have to update your ID information if it is still valid, however, if your ID has expired, you will be notified to update your new ID’s expiry date.

Q6. Do I need to add my SABB Account as a beneficiary in Alawwal Invest?

No, your SABB Account has automatically been added as a beneficiary in Alawwal Invest. You can view your account on Alawwal Invest channels.

Q7. Can I be avail Alawwal Invest services through SABB Branches?

Yes, you can use Alawwal Invest services through all SABB branches Kingdom-wide.

Q8. Is there any change in the existing HSBC Saudi Arabia call center number that I use?

No. Please continue to use the existing number, as mentioned below.

HSBC Saudi Arabia Clients: (+966) 920022688

Alawwal Invest Clients: (+966) 8001242442

Q9. Is there any change in the dealer number for trading?

No. Please continue to use the existing number, as mentioned below.

HSBC Saudi Arabia Clients: (920015353)

Alawwal Invest Clients: 8001241144

Q10.Is there any change in the Alawwal Invest online platforms?

Yes, the Alawwal Invest online platform has been upgraded to the latest version to enhance customer experience. Please click on the link below to view a demo on some of the important features.

https://www.alawwalinvest.com/ebroker/

Q11. Is there any change in HSBC Saudi Arabia’s products?

Your HSBC Saudi Arabia products has been transferred to Alawwal Invest. There may have been some changes such as changing the funds names to remove reference to HSBC Saudi Arabia, as they have been transferred to Alawwal Invest.

Q12. Do I need to provide a new specimen signature card?

No. You don’t have to provide / sign a new specimen signature card, if you had already provided it to HSBC Saudi Arabia.

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