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Transfer endowment policy monies
gre
Posts: 6 Forumite
I have an endowment policy with Natwest and owe a friend of mine a lot of money. I have agreed to transfer the money in the policy to him.
Is it possible to transfer the money directly to my friend's account, and if so, what authorisation do I need to provide to them?
Any help is much appreciated
Is it possible to transfer the money directly to my friend's account, and if so, what authorisation do I need to provide to them?
Any help is much appreciated
0
Comments
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Is it possible to transfer the money directly to my friend's account
Not without making it more difficult for yourself due to money laundering requirements and payments to 3rd parties. Some providers dont even allow it now, although some still do. As the endowment provider.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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