AA Fixed Rate Savings Acc about to mature! What new deal to choose?

Froglet

I also logged in to see the new fixed rate account set up with the interest added from the old one.i had waited to see what it was before i added any more,to round it off.Went to arrange the additional transfer and was gobsmacked to see they won't take it till the 4th November!!:eek: that is quite unbelievable.What on earth takes that long? So i am now going to see if i can send it from my bank instead,as i know they do faster payments.Even slower payments would be quicker than 4th Nov.If not i shan't bother.

soulsaver

Froglet wrote: »

I also logged in to see the new fixed rate account set up with the interest added from the old one.i had waited to see what it was before i added any more,to round it off.Went to arrange the additional transfer and was gobsmacked to see they won't take it till the 4th November!!:eek: that is quite unbelievable.What on earth takes that long? So i am now going to see if i can send it from my bank instead,as i know they do faster payments.Even slower payments would be quicker than 4th Nov.If not i shan't bother.

They'll let you add to it in November? Is that when your FTB matures?

Froglet

No Soulsaver that is the strange thing.The old,matured bond has already been moved to the new 2 year fixed rate,happened on the 21st.I suppose that is their way of doing it from their end but i have never heard of it taking so long!! And the bond could well be closed by then to new people but i suppose once the system is set up it doesn't matter.

The other thing was that they would only take a minimum of £500,whereas i could only move less than that till i get paid.

However i did it from my bank,the HSBC, using their sort code,my account ref etc and it was there within a few hours!!A and L are virtually instant but it beats ,what,2weeks !!And i could transfer what i wanted.

Does anyone know of any company taking longer?:rolleyes:

Ifts

I was told by the AA to send in the cheque for the additional funds with the maturity renewal instruction form before my 1 year FRB matured.
They added the cheque to the 1 year FRB from last year and then on maturity transfered the whole balance to the new 5 year FRB.

dougz_2

Froglet wrote: »

I also logged in to see the new fixed rate account set up with the interest added from the old one.i had waited to see what it was before i added any more,to round it off.Went to arrange the additional transfer and was gobsmacked to see they won't take it till the 4th November!!:eek: that is quite unbelievable.What on earth takes that long?

Well it is a DD for them to pull the funds, so maybe there are extra delays involved in a processing a DD? DDs are usually bills so we don't mind if that takes a while.

Froglet

Bills never do though do they !! Bradford and Bingley only take 2 days when you arrange it from their end.That is understandable,but 2 WEEKS!!

Thank goodness for the faster payments system from the banks,well some of them anyway.

soulsaver

Froglet wrote: »

No Soulsaver that is the strange thing.The old,matured bond has already been moved to the new 2 year fixed rate,happened on the 21st.I suppose that is their way of doing it from their end but i have never heard of it taking so long!! And the bond could well be closed by then to new people but i suppose once the system is set up it doesn't matter.

Sorry. Dunno why, but I thought you were talking(typing?) about the 5 year bond.
AA told me that as a maturing ftb (29th Oct) customer the 5year5.?% will be available for additions until end of October. I'd add to it, but I've got no access to penalty free funds until November....:o
Hence the question.
Hopefully the 2yr will be still available which is pretty good, too.