Hang Seng rolls out brokerage-free stock investment service programme

Customers may trade the first $300,000 or equivalent of Hong Kong Stocks.

Hang Seng Bank launched SimplyStock, a brokerage-free stock investment service programme, that aims to encourage customers between 18 to 30 years to look into various investment channels.

In a statement, Hang Sen said SimplyStock, which has a $30 fee a month, will enable customers to trade the first $300,000 equivalent of Hong Kong Stocks.

Aside from a free brokerage fee, A Shares or US Stocks through Hang Seng Investment Digital Banking, including Hang Seng Mobile App, Personal e-Banking or Hang Seng Investment Express Mobile App do not also have a custody fee and deposit charge every month.

It also said that there is also no monthly fee if the customer does not trade any stock in a month, and no registration is required to join the programme.

ALSO READ: Hang Seng names new head of commercial banking

"Hang Seng endeavours to provide easy-to-use financial investment services with financial education and information for young customers, enabling them to take the first step in early financial management and realise long-term wealth growth,” said Ricky Lin, Head of Investments and Wealth Solutions at Hang Seng.

“With the launch of the new ‘SimplyStock', we cater to the online stock trading habits of our young customers, providing them with an easy, low-stress, and cost-effective brokerage-free stock investment option. This gives them more flexibility in financial investment and enriches their investment portfolios, enabling them to make sound financial planning for the future,” he added.