Endowment

ybslik

My endowment recently matured and we filled in the forms they sent us to enable them to pay into our bank! They said they did it last week but the bank account number and sort code they used are not ours! They said they are the details we gave them which we are disputing and have asked them to forward us a copy of the form we filled in so we can see for ourselves! They told us that they needed permission to be able to do this took an e-mail address and we still havent seen it! They have told us we will have to wait until the money is returned to them before we get it. We are frustrated because they cant tell us how long that would be, all phone calls are also frustrating because we are passed from pillar to post and put on hold for quite some time, please can someone give us some advice as to what to do next?

Wh05apk

I suspect ths will come own to what you put on the form, if you gave them the wrong details, you will have to wait for the money to be returned by the lucky person receiving it! If the error is down to the insurance company, then they should pay up promptly, the problem is theirs. You need to get a copy of the information you provided, if they cannot do this promptly, then raise a formal complaint, so it gets addressed.

ybslik

How do I get them to send me the form though, they seem to be dragging their heels over it!

Let_Us_See

Surely, you took a copy of the form for your records to avoid such a problem?

dunstonh

We are frustrated because they cant tell us how long that would be

That is because it depends on the bank it went to and their internal processes. Typically, within 10 days unless the account exists and someone is credited. That is when the fun starts.

please can someone give us some advice as to what to do next?

It is fairly straight forward. Most insurers have the ability to let their staff view scanned documents on screen. So, the people you speak to on the phone can see the document. If you are getting told multiple times that it is what you filled in then it does seem likely they are correct.

It is highly unlikely you will be emailed the form. Insurers do not like email. It will usually be posted. Typical service time is usually quoted around 2 weeks. If its going on longer than that then raise it as a complaint.

Wh05apk

ybslik wrote: »

How do I get them to send me the form though, they seem to be dragging their heels over it!

If they are not sending it, then raise a formal complaint, they then have set timescales to respond to you and look into this, the key thing is that speed is important, if this is down to you, you need the beneficiary of these funds to return them asap, before they are "spirited away"