charter savings bank fixed rate bond...cooling off period?

Topiary

Took out a one year fixed rate bond with charter savings bank approx 3 days ago

Have since came across an improved fixed rate bond elsewhere however appear there is no cooling off period on these bonds (was expecting 14 days like my other investments)

Can anyone confirm if what charter are advising me is correct?

Regards

eskbanker

Seems correct for fixed rate/term products, according to their Ts & Cs at https://s3-eu-west-1.amazonaws.com/pdf.chartersavingsbank.co.uk/01097_general_savings_conditions.pdf:

22 Cancelling or closing your Account

22.1 If, within 14 days of first opening your Account, you would like to cancel your Account, let us know by:
- logging in to our online banking service at chartersavingsbank.co.uk if you have an Online Account and sending us a secure message:
- calling us on 0800 032 9999 (or +44 330 123 1111 if calling from outside of the UK), or
- writing to us at Charter Savings Bank, PO Box 855, Wallsend, NE28 5BL
Otherwise, the Account will continue until you or we close the Account.

22.2 If you cancel your Account within 14 days of first opening it, we won’t charge you for the cancellation.

BUT PLEASE NOTE - this right to cancel does not apply if the interest rate on your Account is fixed for a period of time.

StellaN

For a one year fixed rate the best available on MSE is Charter at 2.03%. Which provider is currently paying more?

Topiary

eskbanker wrote: »

Seems correct for fixed rate/term products, according to their Ts & Cs at https://s3-eu-west-1.amazonaws.com/pdf.chartersavingsbank.co.uk/01097_general_savings_conditions.pdf:

Thanks just came across that very section when reading the small print.
I would have though that all financial products carry a cooling off period....Lesson learned...your avatar is quite apt

Topiary

StellaN wrote: »

For a one year fixed rate the best available on MSE is Charter at 2.03%. Which provider is currently paying more?

The sharia accounts i.e Gatehouse bank via Riasin is offering 2.15% and up to a £100 bonus though appreciate a little more risky using a intermediary.