Wrap help

Yes. Please call our customer centre on 0800 027 4675 to let us know and we will update your account. Call charges will vary. We will require evidence for some changes, such as change of name or national insurance number (NINO).

We’re sorry to hear your loved one has passed away. If you have a financial adviser or solicitor, they can contact us on your behalf. If you would prefer, you can give us a call on 0800 027 4675 and we can discuss the next steps with you. Call charges will vary.

Yes. We require a signed Death benefit nomination form in order to add a beneficiary to your SIPP. If you would like to remove an existing beneficiary, please confirm this in a signed letter. Forms and letters should be posted to: Standard Life, Dundas House, 20 Brandon Street, Edinburgh, EH3 5PP.

In order to allocate pension monies following a divorce we normally require a Pension Sharing Order. There are also other legal documents required, depending on which country’s courts have confirmed the divorce. You should speak to your solicitor about what is required.

If you would like information about how we process Pension Sharing Orders, please call the customer centre on 0345 279 1001. Call charges will vary.

We will need a signed instruction from you to close your Wrap account. You will also need a bank account that has been verified for withdrawals on your Wrap account in order for us to send your monies to you. Please include the following in your letter and post it to: Standard Life, Dundas House, 20 Brandon Street, Edinburgh, EH3 5PP.

• Name
• Contact details 
• Plan number
• Confirmation that you wish to close your ISA, PP, or the entire Wrap account
• Which bank account we should pay out to (this cannot be a third party bank account)
• Your signature

If the total balance of your Wrap account is less than £250, you can tell us over the phone that you would like us to close the account. Please call our customer centre on 0800 027 4675. Call charges will vary.

This process does not apply to SIPPs. You must transfer your plan to another provider or take drawdown. Please call 0800 085 5971 to discuss your options. Call charges will vary.

We will pick up your request to close your account within 5 working days of receiving it. If you have investments, we will need to sell them down to cash before paying the proceeds to your verified bank account. It can take 10-18 working days to complete an account closure from when we receive your instruction.

Closing a Wrap account is different from transferring it to another provider. If you would like to transfer your Wrap products, please see the section on Withdrawals, payments, and transfers.

The platform charge is calculated monthly, based on the value of your Platform Eligible Assets (PEAs) on the last working day of the previous month. This calculation is done for each product held on the Wrap platform. The charge is equal to 1/12^th of your annual platform charge, as shown on your Summary of Charges document.

Your annual platform charge is calculated on a tiered basis and may change as your Wrap account value increases or decreases – for more information on charges, including product administration and dealing charges, please see Understanding charges or refer to your Terms and Conditions.

The platform charge is deducted from your Wrap account on the 5^th of the month.

The platform charge applied to your Personal Portfolio (PP) and/or ISA is deducted from your Wrap Cash account. When there are insufficient funds in Wrap Cash, the platform will move cash from within PP or ISA cash into Wrap cash. If there isn’t enough cash available in your PP or ISA, investments will be sold down to cover the charge. This process is called auto-disinvestment.

The platform charges applied to your SIPP is deducted from the cash account within your SIPP. SIPP charges cannot be taken from Wrap Cash. When there is insufficient cash within your SIPP to cover your platform charge, investments will be sold down to cover this.

For more information about the platform charge, including bond charges and auto-disinvestment, please see Understanding charges.

You can view your charges being deducted from your account on the Transaction history tab on MyPlatform – make sure you have set your view to ‘Cash’. You can also see this on your Statement.

If there has been insufficient cash in Wrap cash to fund PP and/or ISA platform charges, you will see the narration: ‘Cash movement to fund Wrap cash’. This is the Wrap platform moving cash from your product into Wrap cash in order to take the charge as they are not taken directly from the ISA or PP.

If you would like to take a withdrawal from your ISA, Personal Portfolio, bonds, or Wrap Cash, 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 the section below.

If you would like to make a payment into the products held in your Wrap account, including the onshore bond, please call our customer centre 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.

We do not accept standing order payments. 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: Standard Life, Dundas House, 20 Brandon Street, Edinburgh, EH3 5PP

You can select a payment date from the 1^st to the 28^th 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 customer centre on  0800 027 4675. If you would like to discuss transferring an existing pension into your SIPP, please call  0800 085 5971. Call charges will vary.

SIPP Collections
Account number: 42288230
Sort code: 40-03-28
Payment reference: Plan No / Surname

Wrap Collections (all other products)
Account number: 02288311
Sort code: 40-03-28
Payment reference: Plan No / Surname

Our bank: HSBC Bank Plc, 31 Holborn, Holborn Circus, London, EC1N 2HR.

If you would prefer to send a cheque, please make these payable to: Standard Life Savings Limited. and post them to: Standard Life, Dundas House, 20 Brandon Street, Edinburgh, EH3 5PP.

For information about funds available on the Wrap platform, please call our customer centre on 0800 027 4675. Call charges will vary. If you have an adviser, they can give you guidance on which investments will best suit your goals. There is likely to be a charge for this.

You can instruct a buy, sell, or switch of funds over the phone with us. Please call the customer centre on 0800 027 4675. Call charges will vary. Unfortunately, we are not able to give you any advice or guidance on your fund selection, but will be happy to carry out your instructions for you. If you don’t already have one, you can find a financial adviser on Unbiased. There is likely to be a charge for financial advice. We will need to know the fund codes for any buys you would like us to make on your behalf.

No. Once a deal has been placed we are not able to cancel it.

You will get the price available at the next Valuation Point after your deal has been placed. These differ for each fund.

Your deal will be placed within 5 working days of us having received your instruction.

Once deals are placed, mutual funds take 3-5 working days to fully settle and insured funds take 2 days to settle. There can only be one deal ongoing at any time per fund. This means you must wait for the sale of a fund to settle before you can sell further units of that fund.

This is a method of accessing pension monies which, unlike an annuity, does not guarantee you an income for life. You access your pension monies on an ongoing basis, either through flexi-access or capped drawdown, until the money runs out. This income is assessable to income tax but you are allowed a certain amount of tax free income, otherwise known as tax free cash (TFC).

Tax free cash (TFC): When accessing your pension pot via drawdown, unless you have a high level of protected tax free cash, you are usually allowed 25% of your monies to be paid out tax free.

If you would like to instruct your first move to drawdown, change your regular drawdown instruction, take a single payment, or stop your regular instruction, please call the customer centre on  0800 085 5971. Call charges will vary. Please note you cannot take any cash out of your pension until you are at least 55.

If you would like to take out Tax Free Cash (TFC) from your pension, please call the customer centre on  0800 085 5971. Call charges will vary. Please note you normally cannot take money out of your pension until you are at least 55.

You can view how much TFC you have remaining on MyPlatform – simply go to the Account details section and select SIPP account details to view your balance. If you have a protected Lifetime Allowance (LTA), your TFC may not show correctly. Please call the customer centre on  0800 085 5971 to confirm the TFC you have remaining. Call charges will vary.

You will receive your drawdown income within 10 - 12 working days of giving us your instruction. If you have requested a tax free cash single payment, you will receive this within 6 - 8 working days of your instruction. If you have set up regular drawdown income, you will receive your monies on the selected date, keeping in mind the timescales above.

If the expected payment date for your income falls on a weekend or bank holiday, you will receive your drawdown monies on the previous working day.

Your Lifetime Allowance is the maximum amount you can take out of your pension pot (across all of your pension holdings) before incurring a tax charge. For more information about lifetime allowances and to see the current allowance for this tax year, please visit the gov.uk page.

If you would like to know how much of your allowance you have used from your Wrap SIPP, please call the customer centre on 0800 085 5971. Call charges will vary.

You can view the tax code we currently hold for you on MyPlatform – simply click on the link to open your SIPP account details.

If you feel the tax code we hold is incorrect, please contact HMRC on 0300 200 3300, call charges will vary. Unfortunately we are unable to accept any changes to your tax code over the phone or via post – these must come from HMRC directly.

HMRC provide us with your tax code electronically and automatically. If you have recently taken drawdown for the first time, you may be on an emergency tax code. This is temporary and will be updated once HMRC have a better idea of your income.

If you feel you have been over-taxed and have received a single payment under flexi-access drawdown, you can apply for a refund through HMRC.

If would like to reclaim tax on single or regular payments under capped drawdown, or for a regular payment under flexi-access drawdown, please contact HMRC on 0300 200 3300. Call charges will vary.

You will require our PAYE reference which is: 961/FZ56287.

Your P60 is issued to you annually around mid-April. A copy is also stored in your document library on MyPlatform. Alternatively, you can give our customer centre a call on  0345 279 1001 and request that we send you a new copy in the post. Call charges will vary.

Yes, please call our support team on 0345 279 1001 and they will be happy to issue a contribution statement to you in the post. This is different from your annual statement. Call charges will vary.

The annual allowance for ISA contributions for the 2021/2022 tax year is £20,000. This can be divided over different ISAs, but not two of the same kind. This means you can contribute into a cash ISA and a stocks and shares ISA, but not into two different cash ISAs, or two different stocks and shares ISAs in the same tax year. Find out more about the ISA allowance on HMRC’s website.

You can now register for online access through our new secure provider, Okta. If you have not previously been set up with Wrap online access, please call the Wrap customer centre on 0345 279 1001 and we will be happy to activate your Wrap account profile. You will then be able to register your email address and log in.

Visit the login page, select ‘Client Login’ and follow the instructions. If you have never been set up with a Wrap login account before, please call the Wrap customer centre on 0345 279 1001 to be signed up with access.

If you’ve forgotten your password, go to your login page and select the ‘Forgot password’ link. If you’ve forgotten your username, please call the Wrap customer centre on 0345 279 1001.

You can give our Wrap customer centre a call on 0345 279 1001 and we will be happy to provide you with any guidance or information you need about Wrap online access.

Okta is our new online access provider. The Okta sign-in system provides secure connection between you and your Wrap account information. Okta protects your information with extensive security measure and controls that are audited by third parties. You can have confidence that your details are safe and secure.

This is an annual document which will be sent to you around the start of each year. The first time we sent this document was February 2019. This document provides a summary, in monetary and percentage terms, of the charges you paid over the preceding 12 months. This way you can more easily keep track of how much you are paying in fees.

Your Charges Summary is a snapshot of your annual fees as a percentage figure. The platform charge is calculated on a tiered structure and can change as your Wrap account value increases or decreases. Please see our Understanding Charges page for more information about all charges.

A Charges Information Document is produced when you are buying or switching into a fund you don’t already hold. This shows your charges on a transactional basis and is therefore calculated differently than your Charges Summary. We will send your CID as a password-protected document after we have taken your instruction. This will be sent along with any KIIDs if applicable. If you would like more information about your CID, please call our customer centre on  0800 027 4675. Call charges will vary.

Your statement provides you with a detailed breakdown of all of the transactions which occurred on your plan within the timeframe stated on the first page. Your statement will show you: charges, money in/out, cash transfers between Wrap products, the purchase and sale of investments, as well as an opening and closing value for the period.

For ISAs and Personal Portfolio, we provide statements on a quarterly basis. For the SIPP, Onshore bonds, and Offshore Bonds, these are provided annually. Unfortunately we cannot generate ad hoc SIPP/Onshore/Offshore bond statements.

Your contract notes are evidence of the purchases or sales of mutual funds or securities on your Wrap products. Your contract note shows you which fund(s) were sold, how many units, what that unit price was at the time of sale, and the settlement date of the transaction. By ‘settlement date’ we mean the date that the transaction was completed, or in other words, when the cash from a sale is available to use or the fund you purchased has now been credited to your Wrap account. The settlement date is not the same as the date of the actual purchase or sale of the fund(s).

Yes. If you would like to go paperless please call our customer centre on 0800 027 4675 and we will be happy to update your account. Call charges will vary. If you have not opted out of receiving paper copies of contract notes, we can switch those off for you as well. Due to the nature of the document, these are not automatically switched off when you go paperless, so please make sure to mention to our customer representative that you would also like to opt out of receiving paper copies of contract notes. All of your documents will be available for you to download from the Document Library on MyPlatform. Unfortunately, we cannot send these documents via email as this is not a secure method of communication.