Prudential paid less than expected

Opalshade

Maybe not such a quick answer than I am expecting but here goes 
I cashed in 4 ISA’s from 4 family members 
Prudential sent a link to the ISA’s showing £64000 happy days not yet dropped so yes take them out 
When we each received the money it was only £57000 and they also only cashed in 3 not 4 
Is this right ? Can they do this ? 
What was the point of sending a link to the ISA if we got a different amount 
I would have presumed probably wrongly that when the email was sent that’s when they stopped your ISA and paid out 
Please help 
Kindest regards
David 

PS Martin Lewis for  Prime Minister 

McKneff

As far as i know, they are live until the time they pay out, so interest is calculated then. 

eskbanker

If the ISAs you're referring to held investments then their value will fluctuate frequently, and during turbulent times like the first few months of this year, they'd be more volatile than usual.  It's not clear why Prudential would have sent links, but chances are these would just be circulated as a way of monitoring your investments on an ongoing basis rather than implying that you could sell at a fixed price, or was there any maturity date coming into play perhaps - what exactly did the message accompanying the links say?  When were they sent and when did you initiate the sale?

If you gave a valid instruction to sell four and they only sold three then obviously this is something you'd need to take up with them....

dunstonh

Is this right ?

I'm not sure how you expect us to answer that without any details.

Can they do this ?

They will pay out the surrender value on the day of the surrender.    If it was in a Prufund then there could well have been a drop in value if you did this just after the CV falls.  Or there could be a Market value reduction (these are not shown in the current value but are included in the surrender value).   We would need to know the details.

PS Martin Lewis for  Prime Minister 

That would not work and would be pretty awful.    It would be highly damaging for his brand as well.  It would mean making decisions that are not popular and not telling people what they want to hear.