I had an endowment mortgage with Standard Life for 22 years. Children starting University so I registered online to check the surrender value. The value (Approx 25K) was worth more to me than any extra bonus I would have received over the last 3 years. I decided to watch the surrender value as it states that 'Interest is calculated daily'. I noted that there was no change in the displayed figure over a couple of weeks so I e-mailed Standard Life to query the 'daily' quote. Took over a week to reply....but!!!.........to late.

Logged on to the Standard Life website to check my account to find they had wiped off £3000 overnight!!!. Not so much as a by-your-leave. Many irate calls to Standard Life with the usual bluff that 'figures may go up as well as down' etc. After a great deal of discussion they admitted that they had been 'predicting high figures for the bonus in the hope that the banking downturn would reverse'. When there was no reverse they whipped 3K off my stated value. I stated that this was tantamount to bluffing the customer.

No joy at all. Closed account and took the money to a reputable bank.

Be afraid, be very afraid.... Standard Life......all is not all that it seems.

Ken Moore