Coventry BS ISA - 14 day cancellation

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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  • Doctor_Who
    Doctor_Who Posts: 908 Forumite
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    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
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • bristolleedsfan
    bristolleedsfan Posts: 12,083 Forumite
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    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
    Doctor_Who Posts: 908 Forumite
    First Post Name Dropper Photogenic First Anniversary
    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.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • Definitely worth a phone call on Monday. Thanks both 
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