| 20 April 2017 | RaboDirect is withdrawing as a deposit option on Standard Life policies  As you may know from our recent communication, RaboDirect is withdrawing as a deposit provider on Standard Life policies in July 2017. This will affect Standard Life customers with policies invested in RaboDirect demand deposits. Any funds remaining in RaboDirect demand deposits by 19 July will be transferred to customers’ policy cash accounts.
We’re writing to customers affected
We will be writing to customers affected on the week of 2 May to
- inform them that their RaboDirect demand deposit is closing
- outline customers’ options to switch to another fund
- highlight this opportunity to speak to you, their financial adviser, for advice on choosing a Standard Life fund that may better meet their needs
- encourage customers to speak to you
Key dates for your diary - Week of 2 May: We will be writing to customers letting them know what is happening and what action is required. See sample letter and frequently asked questions documents
- Week of 5 June: Reminder letter to customers who have not issued an instruction
- 4 July: Last date for customer instructions (prior to 3pm)
- 19 July: All remaining funds in customers’ RaboDirect demand deposits will be transferred to customers’ policy cash accounts.
How can we help?
This is an important time for you and your customers. As always we’re here to support you. Please speak to your Standard Life Business Manager today.
| 
