Annuity Nightmare, Daymare, Round-The-Clockmare
Jan 6th 2019, 4:41 pm
#16
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
I strongly recommend contacting the Compliance Officer as I described above as they will invariably move heaven and earth to avoid having a black mark in their complaints file when the regulators come to perform their annual inspection. The Compliance Officer is your "friend inside the company"! 
Jan 6th 2019, 5:07 pm
#17
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
I am not entirely sure what contact you have had with the paying insurance company, other than that you noted that they refused to include the IBAN. .... What contact did you have? Web/email, phone/call center, in writing/snail mail?
If you have tried the call center "I want to speak to your manager" route, and also failed by writing, then I would recommend that you write again, this time addressing your letter to "the Compliance Officer" at the insurance company. A letter so-addressed has legal significance and will be sent to the Compliance Officer as a "legally significant complaint". Complaints to the Compliance Officer have to be kept on file and showed to the regulator when they perform their annual inspection visit and check for satisfactory resolution. External Auditors will also check the complaints file in the Compliance Department and expect to see documented proof of satisfactory resolution of the complaints in the file. State in your letter that "your company/Acme Insurance Co, is failing to complete it's contractual obligation by not making wire transfers timely and reliably ..." then go on to explain that the failure/refusal to include the IBAN is causing wires to be significantly delayed or lost.
My first post (above) said:
"I’ve now had an email exchange with them over the course of 8 weeks, that is nearing 100 messages.
Innumerable phone calls, ........Even had supervisor of Global Wire Team for my new account intervene on my behalf with the &*!#ing Operations Outsourcer for the Insurance Company.
All to no avail."
My initial email regarding the wire change was addressed to the specific individual who is the "Group Chief Operating Officer" of the Company
It was diverted to his "Executive Personal Assistant" who responded on his behalf (first by email, then - at my request- by phone call) and then batted me to this one, followed by that one, then the other one...countless groups and teams and players...rivals the Olympics
so yes, I have extensive written (email) documentation, many of which include dates and times of scheduled phone calls.
But I'm not looking to lodge a complaint. Only want to receive my payments.
Jan 6th 2019, 5:15 pm
#18
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
I strongly recommend contacting the Compliance Officer as I described above as they will invariably move heaven and earth to avoid having a black mark in their complaints file when the regulators come to perform their annual inspection. The Compliance Officer is your "friend inside the company"!
To the contrary, on Friday, they e-mailed me saying "They'd opened a Complaint on my behalf" ! ! ! (WTF)
Jan 6th 2019, 5:43 pm
#19
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
I Googled that sort code here: https://bank-code.net/uk-sort-code
And It doesn't appear there.
Nor does Barclays Sort Code web page match that: https://bank-code.net/uk-sort-code/b...s-bank-plc/240
Does your Borderless Account, Lansbury (or anyone), actually specify a specific UK Bank/address/sort code etc?
And It doesn't appear there.
Nor does Barclays Sort Code web page match that: https://bank-code.net/uk-sort-code/b...s-bank-plc/240
Does your Borderless Account, Lansbury (or anyone), actually specify a specific UK Bank/address/sort code etc?
The sort code belongs to https://www.raphaelsbank.com The address on my account is the same as yours. See also https://bank-code.net/uk-sort-code/b...l-and-sons-plc
As Pulaski says the money while in a UK bank is not protected in the normal way. It is an account belonging to transferwise and not you. I have a borderless account and do not let money build up in for too long before having transferwise change it to dollars and sent to my US bank.
Last edited by lansbury; Jan 6th 2019 at 5:45 pm.
Jan 6th 2019, 5:52 pm
#20
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Location: Dixie, ex UK
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
So, everything EXCEPT involving the Compliance Officer. The words "Compliance Officer" are the cornerstone of my advice, without those words your correspondence may well fall on deaf ears, .... as indeed it has! 
....
.... And your failure to receive your due payments is a complaint, isn't it? ... Because if it isn't then I am not sure what else to describe it as! 
Jan 6th 2019, 6:10 pm
#21
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
My apologies not sure why I thought Barclays could have sworn I'd seen it in an article about Transferwise.
The sort code belongs to https://www.raphaelsbank.com The address on my account is the same as yours. See also https://bank-code.net/uk-sort-code/b...l-and-sons-plc
As Pulaski says the money while in a UK bank is not protected in the normal way. It is an account belonging to transferwise and not you. I have a borderless account and do not let money build up in for too long before having transferwise change it to dollars and sent to my US bank.
The sort code belongs to https://www.raphaelsbank.com The address on my account is the same as yours. See also https://bank-code.net/uk-sort-code/b...l-and-sons-plc
As Pulaski says the money while in a UK bank is not protected in the normal way. It is an account belonging to transferwise and not you. I have a borderless account and do not let money build up in for too long before having transferwise change it to dollars and sent to my US bank.
https://transferwise.com/help/article/2897714/borderless-account/is-my-money-covered-by-a-financial-protection-scheme
edit: It cites Barclays as their bank in Europe - but not UK (I think)
Last edited by MMcD; Jan 6th 2019 at 6:20 pm.
Jan 6th 2019, 6:15 pm
#22
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
So, everything EXCEPT involving the Compliance Officer. The words "Compliance Officer" are the cornerstone of my advice, without those words your correspondence may well fall on deaf ears, .... as indeed it has! ....
....And your failure to receive your due payments is a complaint, isn't it? ... Because if it isn't then I am not sure what else to describe it as!
Maybe they're in non-compliance - far as I can tell - there ain't (sic) one!
Jan 6th 2019, 6:22 pm
#23
Joined: Dec 2001
Location: Dixie, ex UK
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
You absolutely don't need the name of the Compliance Officer, in fact I would almost say you shouldn't use his/her name even if you knew it, you need to literally address the envelope AND letter to "The Compliance Officer", at the company (works equally well for insurance, banks, stockbrokers, and any other company that has the words "Regulated by ..." on their company website, marketing materials, and company note paper, and also in the US, UK, Canada and pretty much everywhere else where English is spoken.
Jan 6th 2019, 6:23 pm
#24
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
Not name of....just address it to 'Compliance Officer'.
Jan 6th 2019, 6:43 pm
#25
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
Maybe this is where you saw it - which adds to the confusion...Whose BANK is it - RAPHAEL or BARCLAY ;-) ?
https://transferwise.com/help/article/2897714/borderless-account/is-my-money-covered-by-a-financial-protection-scheme
edit: It cites Barclays as their bank in Europe - but not UK (I think)
https://transferwise.com/help/article/2897714/borderless-account/is-my-money-covered-by-a-financial-protection-scheme
edit: It cites Barclays as their bank in Europe - but not UK (I think)
Jan 6th 2019, 11:11 pm
#26
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
This is a better Sort code checker - not all websites are equal
23-14-70 = Transferwise UK, as TW are not a Clearing Bank, they have an account with Barclays who are a Clearing Bank.
Sort Code Checker | Faster Payments
23-14-70 = Transferwise UK, as TW are not a Clearing Bank, they have an account with Barclays who are a Clearing Bank.
Sort Code Checker | Faster Payments
Jan 6th 2019, 11:32 pm
#27
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
This is a better Sort code checker - not all websites are equal
23-14-70 = Transferwise UK, as TW are not a Clearing Bank, they have an account with Barclays who are a Clearing Bank.
Sort Code Checker Faster Payments
23-14-70 = Transferwise UK, as TW are not a Clearing Bank, they have an account with Barclays who are a Clearing Bank.
Sort Code Checker Faster Payments
Interesting and confusing
How did I get sucked into this bottomless pit?
Thanks, Cranston - my instinct says, as far as Annuity Payments go - TransferWise might be TransferFoolish so DON'T
Jan 6th 2019, 11:33 pm
#28
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
I have used TW for a year and I found them to be very good
Jan 6th 2019, 11:43 pm
#29
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Jan 7th 2019, 12:48 am
#30
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Re: Annuity Nightmare, Daymare, Round-The-Clockmare
Er, ALL banks authorized to do business in the UK have a sort code, not only "clearing banks", but TW is not a bank at all, so it is only by arrangement with Barclay's that they were able to finagle their own sort code ,which is effectively just one they borrowed from Barclay's.