Brokerage and Margin Lending Transfer

Starting from 18 September 2022, you will be able to log into Alawwal Invest trading platforms where you can find your new portfolio and account numbers along with your holdings and balances. You can also view these on SABBNet and SABB Mobile. If you had a margin lending facility, it has been transferred with the same current terms.

Today (18 September 2022)

Your accounts and portfolios have been transferred to Alawwal Invest, and you can start trading using our platforms.

How we’re transferring your relationship

Your login credentials and positions have been migrated to Alawwal Invest.
Your new investment portfolio and account was automatically reflected on SABBNet and SABB Mobile.
Your saved bank accounts have automatically been linked to your new investment account(s).
Your fees, charges and terms and conditions remain the same.
Your margin lending facility with HBSA has remained the same, with the same fees.

Do you have any questions?

Will my Log in User ID & Password be 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. Has my HSBC Saudi Arabia Portfolio Number with Tadawul change?

Yes, your Portfolio Number with Tadawul (EDAA) has been changed from the close of business on 15 September 2022.

You can view your new portfolio number under the “My Account” menu on SABB Net. You can access SABB Net with the following link:

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

Q2.I had a Local Brokerage Portfolio with both HSBC Saudi Arabia & Alawwal Invest, what has happened to my HSBC Saudi Arabia Portfolio?

Your HSBC Saudi Arabia portfolio has been closed and a new Portfolio has been opened with Alawwal Invest, whereby your holdings from your HSBC Saudi Arabia portfolio has been reflected in the new portfolio with Alawwal Invest. Your existing Alawwal Invest Portfolio has remained unchanged. You can view both portfolios by logging in with your Alawwal Invest login on Alawwal Invest Platform.

You can view your new portfolio 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

Q3. Has my local brokerage holdings with HSBC Saudi Arabia been merged with my portfolio holdings with Alawwal Invest, since I had a portfolio with both entities?

No they have not been merged. If you want your holdings to be merged, please visit any Alawwal Invest / SABB branch.

Q4.I had a Local Brokerage Portfolio with Alawwal Invest at the time of the transfer. What has happened to my Alawwal Invest Portfolio?

There has been no change in your existing Alawwal Invest Account / Portfolio, please continue using it as usual.

Q5.How can I find out my new Alawwal Investment Account & Portfolio number?

You can view your new Investment Account and Portfolio 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

Q6.I was a HSBC Saudi Arabia customer; can I see my HSBC portfolio Holdings on Alawwal Invest & SABB e-channels?

Yes, you can view your newly transferred portfolio and balances on Alawwal Invest and on SABB e-channels.

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

Q7. Has there be any change in the trading fee?

No, the trading fees are the same as they were at the time of the transfer. If in the future, there are any changes to your trading fees you will be notified in advance in accordance to the regulations.

Q8. What has happened to my unsettled trades at the time of the transfer?

At the time of the business transfer from HSBC Saudi Arabia to Alawwal Invest, your trades that have not been settled prior to the transfer require an additional working days (2 to 10) and will be settled by Alawwal Invest after the transfer.

Q9.What happened to my unexecuted orders at the time of the transfer?

At the time of the business transfer from HSBC Saudi Arabia to Alawwal Invest, your unexecuted orders were cancelled at the end of the session on 15 September 2022. You will need to place these orders via Alawwal Invest’s usual channels.

Q10. I was an IPO client of HSBC Saudi Arabia. What has happened to my IPO Portfolio/Holdings?

Your IPO Portfolio/Holdings have been transferred to Alawwal Invest at the close of business on 15 September 2022. If you would like to view your portfolio position, please visit any Alawwal Invest or SABB branch with your request.

Q11. Can I sell my unsettled Buy trades either from HSBC Saudi Arabia or Alawwal Invest after the transfer?

No, you cannot sell your unsettled buy trades either from HSBC Saudi Arabia nor from Alawwal Invest until the settlement of these buy trades takes place. Any executed buy trades that have not been settled prior to the transfer require an additional 2 to 10 working days and will be settled by Alawwal Invest. Subsequent to that, you will be able to sell your buy trades through Alawwal Invest.

Q12.Can I transfer funds through the Alawwal Invest Mobile Application?

No, but you can perform this action via the Online Platform (Alawwal Invest) by using the below link: https://www.alawwalinvest.com/ebroker/

Q13. Can I open additional portfolios online?

Currently No, but we are looking into offering this service via our online platform, however, in the meantime, you can open additional portfolios by visiting one of our branches and completing the needed documents.

Q1. I was an International Brokerage client of HSBC Saudi Arabia. What has happened to my Portfolio?

Your International Brokerage portfolio has been transferred to Alawwal Invest at the close of business on 15 September 2022.

Q2. Have my existing International Brokerage Account/Portfolio numbers with HSBC Saudi Arabia been changed?

Your HSBC Saudi Arabia Account / Portfolio numbers have remained the same with no changes.

Q3. I had an International Brokerage Investment Account / Portfolio with both Alawwal Invest & HSBC. What has happened to my Alawwal Invest Account / Portfolio.

Your Alawwal Invest Account / Portfolio has remained the same with no changes.

Q4.Can I access & trade my International Brokerage stocks using Alawwal Invest’s online channels?

Yes, you can access and trade GCC markets using Alawwal Invest online channels, similar to what you had been doing in HSBC. For all other markets you will need to contact the call center.

You can view your GCC market stocks using online channels by following the link below:

https://www.alawwalinvest.com/revamp/

Q5. Can I transfer funds in and out from my International Brokerage account using the online platform?

Yes, there has been no change to the transferring of funds using the online platforms.

Q6. Can I sell my Buy trades that have not been settled at the time of the transfer either from HSBC Saudi Arabia or Alawwal Invest, after the transfer?

No, you cannot sell your unsettled buy trades either from HSBC Saudi Arabia or from Alawwal Invest until the settlement of these buy trades takes place. Any executed buy trades that have not been settled prior to the transfer will require additional 1 to 2 working days and would be settled by Alawwal Invest after the transfer. Subsequent to that, you can sell your buy trades through Alawwal Invest.

Q1. Has there been a change in the existing Margin Lending terms and conditions?

No, there has been no change to the existing terms and conditions of the margin lending products.

Q2. Has my existing investment account number associated with the margin lending product changed after transferring to Alawwal Invest?

Yes, your investment account and portfolio numbers have changed. 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

Q3. Has there been any changes to interest rates and fees?

No, your interest rates and fees remain the same.

Q4. Do I need to sign a new agreement?

No. So long as your current agreement is still valid at the time of the transfer, it has been transferred to Alawwal Invest.

Q5. Do I have to liquidate then apply for a new Margin Lending product?

No, your Margin Lending product with HBSA at the time of the transfer, has been transferred as-is to Alawwal Invest.

Q6. Have there been any changes in the share weightages and acceptable margin value after moving to Alawwal Investment Company?

No. All terms and conditions related to your existing Margin Lending facility have remained the same.

Q7.In the event the margin reaches liquidation, will immediate action be taken, or will the client be given a deadline before the market closes to reduce the margin as is the practice in other investment companies?

Yes, a 5 business day deadline will be provided to you as per the CMA regulations to regularize your position

Q8. Is the Murabaha process for Shariah-compliant facilities the same as the process followed at HSBC Saudi Arabia?

Yes, the process is the same as what you experienced at HSBC Saudi Arabia.

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.

I had a Local Brokerage Portfolio with both HSBC Saudi Arabia & Alawwal Invest. What has happened to my HSBC Saudi Arabia Portfolio? (i.e. Customer who have Accounts/Portfolios with both companies):

Your HSBC Saudi Arabia portfolio has been closed and a new Portfolio opened in Alawwal Invest, whereby your holdings from your HSBC Saudi Arabia portfolio has been reflected in the new portfolio with Alawwal Invest. Your existing Alawwal Invest Portfolio

remains unchanged. You can view both portfolios by logging in with your Alawwal Invest login on Alawwal Invest Platform.

You can view your new portfolio 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

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

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