Jen J's community profile page - Smart Money People

Write a review

Newsletter

Go to business site

Viewing profile for,

Jen J

Total reviews written

Helpful marks given to their reviews

Times reviews seen

All reviews (1)

Review of the Coventry Building Society, Cash ISA:

View on product page

Reinvested ISA without consent - now fixed for 1yr

A fixed ISA matured at the end of May 2026. Living in Cornwall & a reduced postal service in the area, we sometimes only receive mail every 1-2 weeks. We received a letter regarding the renewal and our options beginning of June. Unfortunately we were unable to log in online to transfer it to a new flex ISA. As a result, we called Coventry & a new registration code was sent via post. It arrived some while later and we were able to re-register and access our account. At no point during the phone call were we informed that our ISA was or would be reinvested into a fixed ISA, nor was a note placed on our account to pause any movement of funds as we made them aware that it can be weeks before we receive post. We did so only to find that our money had automatically been reinvested by Coventry without our knowing. Had it have been a flexible or easy access ISA, this would not be a problem. They had placed it in a FIXED ISA with which we well now incur a penalty to remove or transfer our money. We have been customers of Coventry for nearly a decade. We have disputed this as they will not allow us access to our funds without the penalty. My previous fixed ISA automatically transferred to a flexible ISA. Very frustrated at this, being denied access to our money without having to pay over £100 in penalties. Placing customers money into fixed accounts is not good practice. We had no control over the duration nor the rate of the account that our money was placed into. Reviewed on: 11th July 2026

We are helping 1000s to make smarter financial decisions

We use the power of consumer reviews to help increase trust and transparency in financial services and to deliver industry leading insight and events.