Aegon another strange approach to fraud checks

Pat38493

A few months back I transferred over £100K from my Aegon employer pension to II.

I have just launched a transfer of an ISA which only has £1100 in it, from Aegon to AJ Bell.  the ISA was set up through the Retireready platform with the same login as the pension.  However whilst hte pension sailed through using Origo, they told me the ISA has to be done manually by submitting forms.  They have now emailed me saying they need a certified copy of my passport to proceed.

Seems a bit strange that they are happy to transfer over £100K without any further checks, but they won't transfer a £1K ISA without my passport...  

I've a good mind to just withdraw the money and lose the ISA status as it's only £1K anyway.

flaneurs_lobster

You're right, bit daft. Have you been talking to a person or are these email exchanges?

I'd be of the same mind, as long as the penalty for withdrawing from the ISA wasn't too painful, especially since getting a certified copy of your passport is going to cost (eg) £12.75 at the PO.

dunstonh

Seems a bit strange that they are happy to transfer over £100K without any further checks, but they won't transfer a £1K ISA without my passport...  

It's not strange.  pensions require no ID or AML checks on transfer.   Whereas ISAs do.

LHW99

dunstonh said:

Seems a bit strange that they are happy to transfer over £100K without any further checks, but they won't transfer a £1K ISA without my passport...  

It's not strange.  pensions require no ID or AML checks on transfer.   Whereas ISAs do.

Which seems odd given the emphasis on avoiding pension scams, whereas there doesn't seem as much in relation to ISA's (except lumped in with the general "losing savings by scam" warnings)

Pat38493

LHW99 said:

dunstonh said:

Seems a bit strange that they are happy to transfer over £100K without any further checks, but they won't transfer a £1K ISA without my passport...  

It's not strange.  pensions require no ID or AML checks on transfer.   Whereas ISAs do.

Which seems odd given the emphasis on avoiding pension scams, whereas there doesn't seem as much in relation to ISA's (except lumped in with the general "losing savings by scam" warnings)

I am getting this certified by a neighbor who is a nurse which is one of the professions on the list.  However - since they do not tell me to ask to get permission from the person certifying it to be contacted by them to validate the information, nor do they ask for the nurse registration number, I would be curious to see what would happen if I just made someone up and put fake info in there - I doubt they actually validate it anyway.