Endowment matures

dex97

Because my wife & I are of a certain age, we find ourselves in the very fortunate position whereby our endowment policy is about to mature (next month) and this will finally pay off our mortgage... hooray!!!
The Prudential intend to send us a cheque “soon after the maturity date”.
Now this may seem trivial, but that will delay the process (postage, clearance etc) by a week or more, so we’ll have to pay at least another weeks interest before clearing the debt.
Money is money, so I asked the Pru if they could expedite by just transferring our money into our account?
But apparently that’s not possible unless I complete the relevant forms, send a copy of our passports, bank details, and two recent official letters as proof of address.
I get the security considerations. But as I explained, the bank account is the same one from which they have been taking the premium payments for the last 25 years. The address is the same one they have been sending statements to for the past 25 years.
I find it strange that the Pru diligently extracted payments for 25 years, but appear hesitant paying our money into the same account.
I’ll jump through the hoops to save the extra interest payment, but it seems obstructive. Perhaps I’m expecting too much?

dunstonh

I get the security considerations. But as I explained, the bank account is the same one from which they have been taking the premium payments for the last 25 years.

Irrelevant. It could be a third party payment for all they know.

The address is the same one they have been sending statements to for the past 25 years.

Standard ID check requirement.

I find it strange that the Pru diligently extracted payments for 25 years, but appear hesitant paying our money into the same account.

That is because you don't understand the fraud risks or the legal issues. Not unexpected because its not your area of knowledge. However, they are not making you jump through hoops.

McKneff

If you took out a mortgage that long ago, surely it wont be a massive amount.
How much are you talking about for a week.
You have probably spent more than that on time taken, phone calls, writing on here.

Just chill and look forward to the moment