# Cooling off period on deposit a/c?



## yellowellie (31 Aug 2011)

Is there a cooling off period on a fixed term deposit account?  I did a search but can only find information relating to borrowing money.


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## bugler (31 Aug 2011)

From googling around I have found one or two references to a 14 day cooling off period relating to bank accounts (one was specifically fixed term, with Nationwide UK Ireland). I can't find anything concrete as to whether this is a statutory requirement, though I suspect it is. 

The best bet may be to read your T & Cs for the specific bank/product. If it's outlined there then you have your answer.


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## yellowellie (31 Aug 2011)

Thanks bulger.  I didn't get any paperwork the day I set it up, was told it would come in the post so I'll wait for that.


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## Lightning (1 Sep 2011)

yellowellie said:


> Is there a cooling off period on a fixed term deposit account?  I did a search but can only find information relating to borrowing money.



Which bank? All depends on the banks T&C.


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## yellowellie (1 Sep 2011)

It's Permanent TSB Interest First.


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