Withdrawals, payments, and transfers

If you would like to take a withdrawal from your ISA, Personal Portfolio, bonds, or Cash Account, please call us on 0800 027 4675. For withdrawals from your SIPP, please see the section on Drawdown/Tax free cash. Call charges will vary.

You will receive your Personal Portfolio or ISA withdrawal 10 – 18 working days from when you give us your instruction. For SIPP drawdown, please see our help on Drawdown and Tax free cash.

If you would like to make a payment into the products held in your Wrap account, including the Onshore bond, please call our Client Engagement Hub on 0800 027 4675. Call charges will vary. Some products have annual contribution limits, but we’ll discuss this with you over the phone. Please note that if you hold a Wrap Offshore bond, you cannot make any new payments in without a financial adviser.

If you would like to contribute regularly into your Wrap Personal Portfolio, ISA, or SIPP, please call us on 0800 027 4675 to set up a direct debit instruction. Call charges will vary. If we don’t have one on file, we will need a Direct Debit Mandate signed and posted to: Aberdeen Client Servicing, Sunderland, SR43 4EE. We do not accept standing order payments.

You can select a payment date from the 1st to the 28th of the month as your direct debit collection date. These take some time to process so please keep these timescales in mind:

• If it is a new direct debit instruction (DDI), we will need to receive the Direct Debit Mandate no later than 11 working days before the collection date.
• If you want to amend an existing DDI, please tell us no later than six working days before the collection date.
• If you have an active DDI on your Wrap account but we have not collected from your bank within the last 6 months, we will need to re-instate the instruction. This will add an extra 2 days to the timescales for collection.
• Timescales for Wrap bonds differ, please contact us.

You will see your payment applied to your Wrap account within 3 working days of it having been received. It is important to be aware that different banks process payments using different timescales. Check with your bank to find out how long it will take for us to receive the payment.

We can update your bank account details over the phone – please call 0800 027 4675. Call charges will vary.

If you are adding a bank account to take withdrawals, we will need to verify that account. To verify a bank account for withdrawals, we use a system called CallValidate to check that the details are correct and registered in your name. If you have recently made changes to your personal details (such as a change of address) with your bank or on the Wrap platform, the account may fail validation. In this case we will require confirmation of your ownership of the account via post, using either a voided cheque or a bank statement dated in the last 6 months.

It is also important to note that we can only verify bank accounts for withdrawals if the name matches the one on the Wrap account. This means we can only use your personal bank account, or a joint account which includes your name, when processing a withdrawal. Third party bank accounts cannot be used for withdrawals. This is for your protection as well as ours.

Yes. If you would like to transfer some or all of your products to another provider, you will need to contact that provider and they will go through the process with you. They will then send the transfer request to us on your behalf.

This does not include the Wrap bonds.

We can only accept transfers into your Wrap ISA or SIPP. If you would like to discuss transferring your ISA, please call our Client Engagement Hub on 0800 027 4675. If you would like to discuss transferring an existing pension into your SIPP, please call 0345 279 1001. Call charges will vary.

We recommend that you arrange for payments to be sent to us via bank transfer rather than sending cheques. Our bank details are below:

Platform / Product: Wrap SIPP
Account name: Standard Life
Account number: 42288230
Sort code: 40-03-28
Payment reference: Plan No
BIC / SWIFT: MIDLGB22 400328
IBAN: GB53MIDL40032842288230

Platform / Product: Wrap - all other products and Fundzone (existing business)
Account name: Standard Life Savings
Account number: 02288311
Sort code: 40-03-28
Payment reference: Plan No
BIC / SWIFT: MIDLGB22 400328
IBAN: GB60MIDL40032802288311

If you would prefer to send a cheque, please post them to: Aberdeen Client Servicing, Sunderland, SR43 4EE.