cashing in endowment problems

SuzieH

2 months ago we filled in forms to cash in our endowment with Pheonix life in Glasgow.They wrote back asking for proof of identity which we sent them.
Now 2 months later they are disputing my identity all because my dh put the wrong birthday for me ( 1 day out--weve only been married for 17 years!!)
Anyway so they asked for my birthday certificate which was duly sent with a copy of my wedding cert. Also a copy of a bank statement .
Was told that was all they required and money would be paid into the bank 3-5 days later.
Now 2 weeks later after me phoning them they are still disputing it and want a bill with my name on. I dont pay the bills, I am sahm , havent worked for years ( my choice) doing the childcare, hubbie pays all bills, dont have driving licence or a passport.
Have sent them tax credit forms yesterday, an old p45, my disclosure form to help at ds school.
What else can I do--have phoned them angrily this morning and said unless the money is in my bank tomorrow then i will seek legal advice.
They are completly stalling paying out-i'm angry and embarrassed as i owe this money out as we were told we would get it 2 weeks ago.
Anyone know what the next step is--I'm threatening legal advice but havent got a clue where to start. They are saying it is their underwriters disputing it. Theyve taken the payments out of our joint account for 17 years--i just want them to pay it back in!
any help appreciated

dunstonh

What else can I do--have phoned them angrily this morning and said unless the money is in my bank tomorrow then i will seek legal advice.

What Phoenix are doing is a legal requirement. So, if you are going to seek legal advice it is probably a waste of money.

They are correct to ask for further evidence due to the incorrect date of birth. An error like that immediately hints at a possible fraud.

The birth certificate should sort the date of birth issue. However, the bank statement, may not be satisfactory. Historically, the banks used to put the address on the statement but for some banks now they dont do that. If no address is on the statement, they cant use it. If its not that then something is wrong that they cannot accept it and want something else (a bill is normally next).

I suggest you ask them what alternatives they will accept. Council tax notification is a common one.

It wont benefit you to get angry though or seek legal advice as Phoenix cannot bypass the anti-money laundering requirements.

SuzieH

Theyve had my birth certificate though 2 weeks ago, bank statement did have address on. I just feel as though they are stalling. They say yes thats everything in we require and money will be in in 3-5 days. Those days pass and i phone them and they say oh we were going to write to you and we need more info

dunstonh

Phoenix are slow. They are a closed life company with legacy systems that are inefficient. Not that it is an excuse but just saying you expect it with them.

I suggest you get on the phone now, ask them what they need, ask them why the bank statement didnt suffice (as it should do if the address is on it) and if they still stall you then ask to be transferred to the complaints department and put in a formal complaint.

brewerdave

I had problems with Phoenix earlier this year re a completed endowment. They claimed that it was still assigned to the original mortgage company-even tho' they had a letter from Nat West removing their interest from the policy. Also never got a satisfactory explanation of the final amount paid out when it was transferred to my bank.

SuzieH

Thats 10 peices of evidence they have had now to prove my identity and i'm no furthur on.

magpiecottage

dunstonh wrote: »

It wont benefit you to get angry though or seek legal advice as Phoenix cannot bypass the anti-money laundering requirements.

This should not be an anti-money laundering requirement for Phoenix - they know where the money has come from as it has been built up over many years and therefore has provenance.

More likely is that they need to know that you are who you say you are - they are paying out a sum that is probably quite large.

However, if they should recognise that not everybody has a passport and/or driving licence and if they are putting their procedures ahead of their customers then a complaint is appropriate.

Call today and ask why they now want something in addition to what is already asked for and why they are insisting on documents you do not have and are under no legal obligation to have.

If you do not get satisfactory answers to both tell them you want the matter referred to their complaints procedure.

If they say you must put that in writing, remind them that the FSA rulebook says you do not have to AND also says that staff speaking to customers should know that (actually it says they must be competent but call centre staff can hardly be competent if they do not realise that complaints can be made by telephone!)

SuzieH

sorry me again
Still no furthur on
Have today received a letter from these idiots saying they need more evidence of my identity-i could honestly cry through anger.
What are you supposed to do if you dont drive, have a passport, a gun licence or a blue badge, dont claim tax credits, dont work and dont pay any bills?? I'm at my wits end with them. theyve had my birth certificate and a bank statement as well as numerous other things?

TrickyDicky101

Did you follow MagpieCottage's advice re asking them to refer the matter through their complaints procedure?

Incidentally, I have enormous sympathy with you as my wife would be in exactly the same situation re lack of documentary evidence saying she is who she says she is...

SuzieH

Yes have put in an official compliant too

SuzieH

TrickyDicky101 wrote: »

Incidentally, I have enormous sympathy with you as my wife would be in exactly the same situation re lack of documentary evidence saying she is who she says she is...

how did you get round it then?