Santander Cash ISA

justforlaugh

Hello, I opened a fixed-term cash isa with Santander in the mid of Sep with 0 balance and the money transfer of the cash ISA from another bank was finsihed on 25 Sep. Now Santander's fixed-term cash ISA interest rate is increased from 4.65% to 4.80% now. Is my cooling period passed? Can I upgrade my cash isa with them without get any penalty?

Thanks

ctdctd

T&C's say:

"You can cancel your account at any time during your ‘cancellation period’ – we won’t charge you for it. This is 14 days, starting the day after we confirmed your account is open.

If you do this, we’ll return your money together with any interest we owe you. We’ll do this as soon as we can (and within 30 days from when you tell us).

If you transferred money from another ISA provider and you cancel this account, that provider may not accept the return of the money. If that happens, you can keep the account open or transfer your money in full to another ISA provider. You’ll need to contact your new ISA provider to arrange the transfer.

You can also close your account at any other time outside this cancellation period but we’ll charge you a fee equal to 120 days’ interest if you do."

So I suspect the answer is no but it never hurts to ask!

justforlaugh

Many thanks @ctdctd. you are right that the cancellation perioc may be passed. But I will call Santander to confirm tomorrow.