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AA Internet 1 Year Fixed Rate Savings Account
LindaMary
Posts: 182 Forumite
I need to rejig my finances. I have over £50,000 in an Esaver with Abbey which is just about to come off the bonus rate. I am looking at the AA Fixed Rate internet saver which pays 7.2%. I am a non taxpayer. My question is this...How safe is the AA to invest money with and also how safe is sending a cheque through the post to them? I would probably move £35,000 to them. The other alternative is to stick with abbey and go on their new fixed saver which pays 6.5% including bonus. Advice please?
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Comments
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The AA financial side is counted as part of HBOS, as far as the FSCS is concerned - see http://www.moneysavingexpert.com/savings/safe-savings#whatcountsI need to rejig my finances. I have over £50,000 in an Esaver with Abbey which is just about to come off the bonus rate. I am looking at the AA Fixed Rate internet saver which pays 7.2%. I am a non taxpayer. My question is this...How safe is the AA to invest money with and also how safe is sending a cheque through the post to them? I would probably move £35,000 to them. The other alternative is to stick with abbey and go on their new fixed saver which pays 6.5% including bonus. Advice please?0 -
If you have to send a cheque to them, send it special delivery, so you can guarantee it arrives!0
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Thankyou, hbos are being taken over, what happens to the interest i earn if the bank does go bust? Will it still be paid out?0
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Did you read the main article, to which I posted the link? That should answer your questions.0
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I have just applied for one asked them who backs the AA told Birmingham Midshires which i suppose is indirectly correct.0
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Yes, AA, BM, SAGA, etc., are covered under the HBOS group approval by the FSA.sweet_charriot wrote: »I have just applied for one asked them who backs the AA told Birmingham Midshires which i suppose is indirectly correct.0 -
Do you consider the account OK as best as can be said in todays financial climate.?0
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BBC journo Robert Peston has said "HBOS will not be allowed to fail".
So cracking rate and a fairly reasonable level of security in the context of the current climate.0
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