time

[millerxxx]

my friend has taken out an investment in a bank
its a fixed rate bond
he phoned up to ask
is their a 2 week cooling off period
they said no
he thought 2 week cooling of f period was normal
are they right or wrong
he thinks they are trying a fast one on him
any ideas
thanks

[daffy654]

There is no cooling off period when taking out a fixed rate bond, I have just asked my fiance who has worked in a bank for 4 years.
Your friend is wrong.

[millerxxx]

thanks for info
is it recently she has worked in a bank
time canges things

[daffy654]

I am female so my fiance is male.lol
He still works in a bank so yes the info is current.

[CheekyChops]

Cooling off periods usually come under the Distance Selling Regulations which state that for certain things, if the contract / finance is signed away from the business premises of the seller, then there is a cooling off period.

It wouldn't apply to fixed rate bonds from a Bank and as daffy654 says, there is no cooling off period and never has been.