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Coventry BS ISA - 14 day cancellation
lucyandthomas
Posts: 145 Forumite
Anyone know if the 14 day cancellation period runs from the day the ISA was opened or the day it was funded (with transfer)? I’m on holiday at the moment and can’t access my account - want to bin the 5.4% 2 yr fix (opened 7/7, funded 17/7) if I can and open NatWest at 5.9% instead. Can’t contact the Coventry until Monday so hoping it’s the date the isa was funded. Anyone know the answer? TIA
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From the website:lucyandthomas said:Anyone know if the 14 day cancellation period runs from the day the ISA was opened or the day it was funded (with transfer)? I’m on holiday at the moment and can’t access my account - want to bin the 5.4% 2 yr fix (opened 7/7, funded 17/7) if I can and open NatWest at 5.9% instead. Can’t contact the Coventry until Monday so hoping it’s the date the isa was funded. Anyone know the answer? TIA
'Cancellation Period' means the period of 14 calendar days after you open your account during which you may cancel your ISA
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FI220
'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.1 -
Fixed rate accounts tend to be fully opened upon funding hence maturity date running from funding date to whatever number of month or years fixed term is.lucyandthomas said:Anyone know if the 14 day cancellation period runs from the day the ISA was opened or the day it was funded (with transfer)? I’m on holiday at the moment and can’t access my account - want to bin the 5.4% 2 yr fix (opened 7/7, funded 17/7) if I can and open NatWest at 5.9% instead. Can’t contact the Coventry until Monday so hoping it’s the date the isa was funded. Anyone know the answer? TIA2 -
Further down the page in the link I posted they define the 'date of opening':bristolleedsfan said:
Fixed rate accounts tend to be fully opened upon funding hence maturity date running from funding date to whatever number of month or years fixed term is.lucyandthomas said:Anyone know if the 14 day cancellation period runs from the day the ISA was opened or the day it was funded (with transfer)? I’m on holiday at the moment and can’t access my account - want to bin the 5.4% 2 yr fix (opened 7/7, funded 17/7) if I can and open NatWest at 5.9% instead. Can’t contact the Coventry until Monday so hoping it’s the date the isa was funded. Anyone know the answer? TIA
3.1 The date of opening will be the date on which both the initial deposit and completed application are received and accepted by us.
'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.2 -
Definitely worth a phone call on Monday. Thanks both1
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