Cancelling Virgin ISA within a few days of opening ?

swayzak

Hello

I recently opened a Virgin 2 yr fixed rate cash ISA (after seeing it listed in MSE top 3), paying 2.87%.

I was in the process of transferring my 20k limit into this (only 1k made it in so far), but then saw the listings change and now there are 3%+ cash ISAs (even for only 1 year).

I have now cancelled the other 19k transfer whilst deliberating...

Can I cancel this ISA (with 90 day interest charge on the 1k deposit) and open a new, better rate ISA to put my 20k into (or 19k if not allowed to put the 1k in) ?

Is there a cooling off period for these ISAs so you can cancel without charge ?

Thanks

steveksullivan

Check the Ts and Cs but I believe Virgin ISAs USUALLY have a 14 day cooling off period.....

swayzak

Correct sir - now cancelled.

Silverbird65

Hi I have had nothing but trouble from Virgin ISA . They are impossible to contact and take forever to put into action your requests, by the time they do interest rates have risen. I think Virgin bank is on its last legs. Thank goodness it's FCA covered. 

alternate

Virgin now owned by Yorkshire/Clydesdale.  They are not on their last legs as Yorkshire have been around for decades offering the same outdated customer service.