Two weeks ago I phoned the Halifax and asked to send out the Terms & Conditions for Fixed Rate ISAs. Instead, I received a set of glossy brochures about various products, not even anything about ISAs in particular.
I phoned again and spoke to one of their advisors. She explained to me that the T&Cs would only be sent out to me *after* I had signed up. ?Otherwise we?d be sending out T&Cs for every day of the week.? Furthermore, she explained that there was no cooling-off period for Fixed Rate ISAs and that the T&Cs would only be sent out *after* the money had been deposited.
As I never sign up for anything without having read the T&Cs, I decided got to a different provider.
======Here's the reply from their complaints department:
There is no 'cooling off' period with the fixed rate ISA account. The account does not comply with government CAT standards (you cannot make un-penalised withdrawals) nor is it a credit facility so we do not have to have one. It is correct that the funds have to be in the account before we sent out the terms and conditions document for you to sign and return to us.
Placing funds in the account does not commit you to the product; it only guarantees that you will receive the applicable rate on that date. If when you receive the terms and conditions you are unhappy then you can refuse to return the signed document. At the point we have to close the account downand return the funds.
I find it simply outrageous that one is supposed to transfer the funds
*before* having seen the T&Cs.