Regular withdrawal changes 

In response to adviser feedback, we will shortly be removing the 10% decency limit on regular withdrawals. To make this change, we will now require all bank accounts to be verified online via CREDAS before setting up a regular withdrawal.  

This requirement does change the process for setting up regular withdrawals for prospective and existing clients, and Offshore Bonds. 

Prospective clients 

You will need to submit the wrapper first and then add the bank account via investor details. Once the details are verified by CREDAS, you can add the regular withdrawal via the wrapper details tab. As part of the application, you can still illustrate the impact of the withdrawals by entering the information on Imago.  

Existing clients 

For clients with a verified bank account, regular withdrawals will be available, and the bank account will now display as a drop down when completing add wrapper, top up and wrapper details. For clients without a verified back account, you will need to add a bank account via investor details. Once verified, you can add the regular withdrawal as part of the application. If the account can’t be verified, you ‘ll have to do this later via the wrapper details tab.  

Offshore Bonds 

When completing the paper application, fill out the withdrawal section and the details will be verified when you send your Offshore Bond illustration request to us.  

If you have any questions about these changes, please contact our client services team. They’ll be happy to help.”