Coventry Building Society incorrect penalty charging to transfer ISA

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Spikey68Spikey68 Forumite
3 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I have recently transferred a 30 day notice ISA away from Coventry Building Society following their decision to cut the interest rate from 2 July. Their letter notifying this stated I had the option to transfer elsewhere without incurring the penalty charge. However, a statement from them today shows they incorrectly deducted a penalty charge when I did in fact transfer to a better offer. They have also done the same thing to my wife. They accept their mistake and will refund the money, but please everyone check your balances to make sure they have not done the same to you. The onus of course seems to be on the member to spot the error and then chase for a refund!
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