Coventry BS ISA - 14 day cancellation

lucyandthomas

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

Doctor_Who

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

From the website:

'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

bristolleedsfan

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

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.

Doctor_Who

bristolleedsfan said:

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

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.

Further down the page in the link I posted they define the 'date of opening':

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.

lucyandthomas

Definitely worth a phone call on Monday. Thanks both