Scottish Provident endowment maturing - advice please

adamandeve

Our Scottish Provident Endowment with profits, will be maturing mid March 2009, and we have received a letter from them asking for documentation prior to them releasing their cheque to us “on or shortly afterwards” the maturity date. Also saying they must receive the documents requested no later than 10 days before maturity date.

I should mention that we have paid off our mortgage so the policy “is not assigned” so payment will be direct to us.

Scottish Provident as well as asking for the original policy document state they want from us proof of identity as follows:-
Copies of 2 utility bills dated within the last 3 months this is understandable and we have no problem with this.
However also they want:-
A certified copy of an unexpired passport (as we have 2 policies – 1 in each name I presume they want both our passports to be copied and certified) – or certified copies of driving licences.
N.B. “Certification can be carried out by a Solicitor, Lawyer, Bank Manager or Independent Financial Adviser”.

This is the first time we have been told we will have to produce certified copies, and particularly as they restrict it to the four professions above I am guessing this means we are expected to pay for this ourselves which seems hugely unfair.

1. Can anyone please provide any advice on the best place where we can get our passports certified?
2. Will it cost us to get it done?
3. Any idea on how much it will cost?
4. Any recent experiences on the best cost effective way that we can get them certified?

Sorry for the lengthy message, but I have tried to give as much info as possible to help.

Thanks in advance.

jm28cardiff

I would have thought this would only be necessary if you had signed documents for the maturity value, and your signatures had changed significantly since you took the policy out.

adamandeve

Thanks for your reply. It seems really OTT to us, after all they have been corresponding to us here.
From snippets I have picked up when surfing the net, the requirements seem to be related more about money laundering prevention.
Hopefully someone on the forum will be able to suggest something.
Here's hoping

EdInvestor

You can sometimes get passports certified at Job Centres.It costs a fiver at a solicitor.

adamandeve

EdInvestor, many thanks for the advice, especially about solicitors cost. I wonder if I could buy one & get one free (just joking - but you never know could be worth a cheeky question to him/her).:T

Scot Prov do clearly state Certification can be carried out by a Solicitor, Lawyer, Bank Manager or Independent Financial Adviser,
I think I might give them a quick ring but pretty sure they will be strict about who can certify.
Reading around the forums there are suggestions that some banks may certify "I don't know"
Thanks again & please keep suggestions coming in.

dunstonh

I would have thought this would only be necessary if you had signed documents for the maturity value, and your signatures had changed significantly since you took the policy out.

No. Its because money laundering rules were changed to include maturities. If the ID was not taken initially or does not comply with current rules then they have to get evidence again.

1. Can anyone please provide any advice on the best place where we can get our passports certified?

If you have an IFA they will do it and probably at no cost.

adamandeve

All sorted now, thanks to all.