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AA Internet Access ISA (Issue 3) - 3.5%

The AA has joined the war for new ISA money with a 3.50% easy access ISA. Is this going to be the best this year?

There is a minimum deposit of £2,500 and as with previous issues transfers in are not accepted.

http://www.theaa.com/savings/access-isa.html

My decision of where to put next year's ISA is getting quite difficult. :think:
Did you really mean to put loose?
Lose: no longer possess, not to retain, unable to find
Loose: not firmly or tightly fixed in place
«13456

Comments

  • 10_66
    10_66 Posts: 3,491 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I've not held an account with the AA before. If nothing better comes along before the new financial year, I might plump for this, rather than a fixed rate. However, there's a couple of things putting me off this, I think BM's application process is a bit archaic (ie they say apply online, but what they really mean is enter all your details and they'll send you a pre-filled in application form which you have send back with a cheque) so I assume that the AAs will be the same (don't know though). Also, with this AA ISA you only start to earn interest from the day after the cheque's cleared.

    Can anyone tell me, please, if they've opened one of the AA's cash ISAs before, was it completed relatively quickly?
  • brewerdave
    brewerdave Posts: 8,822 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Opened one for my wife last year - everything proceeded quite quickly,certainly in 2-3 weeks....just need to find a home for it early May when the bonus comes off!!!
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    brewerdave wrote: »
    Opened one for my wife last year - everything proceeded quite quickly,certainly in 2-3 weeks....just need to find a home for it early May when the bonus comes off!!!
    Might be worth ringing them to see if they'll move your exiting ISA over to the new rate.

    Then post back!!
  • 10_66
    10_66 Posts: 3,491 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    brewerdave wrote: »
    Opened one for my wife last year - everything proceeded quite quickly,certainly in 2-3 weeks....just need to find a home for it early May when the bonus comes off!!!

    I was hoping that it would be less than 2-3 weeks. If the funds don't start to earn interest until 1 day after the cheque's cleared (which obviously happen until the cheque's banked), and if it's sitting in a back log, the lost interest adds up.
  • 10_66
    10_66 Posts: 3,491 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    opinions4u wrote: »
    Might be worth ringing them to see if they'll move your exiting ISA over to the new rate.

    Then post back!!

    Going completely off topic, I've just noticed you've changed your signature strip. I can't get Layla out of my head now!
  • brewerdave
    brewerdave Posts: 8,822 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 10 March 2012 at 11:07AM
    10_66 wrote: »
    I was hoping that it would be less than 2-3 weeks. If the funds don't start to earn interest until 1 day after the cheque's cleared (which obviously happen until the cheque's banked), and if it's sitting in a back log, the lost interest adds up.
    Have just looked up records.... Email received that account opened on 28th April (presumably the date I applied for account online), the cheque was dated 3rd May so must have posted it then, and date account showing credit was 10th May (so not much delay allowing for Royal Mail!) -overall actually 13 days including Bank Holiday,so better than I thought:)
  • brewerdave
    brewerdave Posts: 8,822 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    opinions4u wrote: »
    Might be worth ringing them to see if they'll move your exiting ISA over to the new rate.

    Then post back!!

    ...definitely worth a call -I'll try on Tuesday when my wife is home, otherwise I'll run into the dreaded "data protection issues":rotfl:
  • brewerdave
    brewerdave Posts: 8,822 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    brewerdave wrote: »
    ...definitely worth a call -I'll try on Tuesday when my wife is home, otherwise I'll run into the dreaded "data protection issues":rotfl:
    ..UPDATE -My wife got back from shopping so rang AA Savings - they stood by the "no transfers in" rule - even tho' I suggested we would have to move the money to another institution to get a decent rate equivalent to the existing bonus.......... he actually then suggested that we closed account, and then reinvested the same money for the new tax year!!!!!:rotfl:
  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    brewerdave wrote: »
    he actually then suggested that we closed account, and then reinvested the same money for the new tax year!!!!!:rotfl:

    Really bad advice!!!

    Far better I would have thought to open the ISA and not subscribe any new money until after the 5th April which I believe you can do. No need to withdraw the money, though of cause you could do a transfer as well to get a better rate on any previous year ISAs to someone that accepts them as AA don't.

    Fill in the new providers transfer form to do this though.
  • I only want to stick £1500 in an ISA but i've noticed this is a minimum £2500...so if i stick £2500 in can i just withdraw 1k after a week or so or am i not allowed to go below £2500??
This discussion has been closed.
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