Aa One Year Internet Bond 7.21%

dougz_2

Dagobert wrote: »

I was asked to check on Wednesday whether the account has been opened and then make additional transfers. The adviser stated they they would accept a BACS payment initiated on Wednesday arriving on Friday 17th.

How exactly will you check when it is open to this BACS transfer? Will you have online access already, or will you have to phone and ask, or something? I have not even had the initial letter so I do not know what stages there are to getting online access. I sent my cheque regardless, and it should arrive tomorrow (Tues). But do they officially open the account immediately on receipt of the cheque, or is there a further delay after that before I can send an additional BACS? Thanks if anyone knows.

Speculator

I already have online access and I sent my cheque on Friday. I checked yesterday (Monday) and they haven't paid the cheque into my account yet.

I also sent a cheque to open a seperate a/c on Friday 3rd of October and it was paid into my Fixed Rate Bond on the following Tuesday.

noh

Speculator wrote: »

I already have online access and I sent my cheque on Friday. I checked yesterday (Monday) and they haven't paid the cheque into my account yet.

I also sent a cheque to open a seperate a/c on Friday 3rd of October and it was paid into my Fixed Rate Bond on the following Tuesday.

I sent a cheque Thursday still not showing today.

Nigel

Dagobert

I phoned yesterday. They are working on a backlog. yesterday they were dealing with applications received 1st October. They work on a 5-day turn-around. Anything after that is back-dated.

Only ac!!!!s which have already been opened with the initial cheque can be topped up by electronic payment. Accounts which have not been opened yet can only be topped up by cheque, which must be received to-morrow.

Transalper

I posted a cheque recorded delivery on Monday 6th. The funds are still sitting in my no interest current account when I checked just. I phoned AA last Fri and they said they are behind but all cheques sent would be honoured and still get the 7.2%. The contact number on the letter they sent was wrong and they didn't have an answer machine/call hold tune. I thought I was being cut off. I hope they look after my savings better than all this!!!

Speculator

Dagobert wrote: »

Only ac!!!!s which have already been opened with the initial cheque can be topped up by electronic payment. Accounts which have not been opened yet can only be topped up by cheque, which must be received to-morrow.

You forgot the "o" in accounts.

I am keeping my money in my Halifax Websaver earning 5.8% and increased my Halifax Overdraft to £10K to cover the cheque.

If you need to call AA savings, the No. is 01902 325504. Cheaper than the no. on the letter.

Seahorse

I have just come off the phone from customer services, I have a fixed 1 year bond and applied for a 2nd one on thursday, as no paperwork has been received yet ,
I rang them as to whether I should post a cheque,

They told I could fund the second account with a Bacs transfer instead of a cheque,
And that they where accepting payment into accounts until 24th October

DocProc

I'm sure I'm not alone in fitting into a category of customer, who, prior to Icesave going bust, had committed to send The AA quite a large sum.

After the Icesave debacle, I determined to tone it down a bit, play safe, and keep it under the £50k level; so I put a stop on my first cheque and sent a second one for a smaller amount.

And then the government committed to massive support for the FSA Registered HBOS Group in the Bank Bailout Plan

Of course, The AA Fixed Interest Fund is being administered by Birmingham Midshires, who are called the 'Deposit Taker'. Our contract as a depositor is actually with Birmingham Midshires, who are the Deposit Taker, and they are a subsidiary of Bank of Scotland, who are part of HBOS group. The fact that the government decided they were now actually going to be participating with my targetted savings organisation, made me feel quite sure it was safe to commit bigger levels of funds to them - so I did do this and topped up, but this time with a CHAPS transfer.

So in my AA Fund Internet Account is shows the original cheque entry for the original higher amount. Next it shows a credit entry for the CHAPS transfer.

As yet my second cheque isn't yet showing as a credit. They must have got this second cheque on Saturday the 11th. As I've told you, I am also waiting for the stop for the initial big cheque to kick in and create a debit entry to cancel it out.

Anyhow, you can see I've chopped and changed my mind a fair bit. My point being, that I'm sure there will be others like me who have also chopped and changed their mind. Despite what they indicated in their application form about their total commitment, their later decisions will range from anything from a simple 'YES, go on then, I will' to a simple 'NO, not after Icesave'. Then from an 'OK I will but LESS THAN £50k', to an 'OK I will and MORE THAN £50k'. I also bet there are a few stopped cheques too. So all of this will take some sorting out by BM's AA account staff to maximise and get the best out of the fund and meet the target amount.

Speculator

Just spoke to AA and they advise that it will take 5 working days to process a cheque and interest will not be backdated to date of receipt.

I sent my cheque on Friday and she said they would have only received it yesterday (Monday). Therefore, my cheque should be paid into my Bond by Friday.

Dagobert

Dagobert wrote:

Only ac!!!!s which have already been opened ...

Speculator wrote:

You forgot the "o" in accounts.

I don't know what I did there. I am completely knackered because I have been humming and hawing exactly like DocPro described. I had loads of funds maturing this week plus a few panic withdrawals. To-day, I drove to the Post Office to send a top-up cheque to the AA via Special Delivery. I could have saved myself the 8m round-trip if Seahorse is right about them accepting payments until 24th October.