AA Savings dropping Birmingham Midshires

PeacefulWaters

Or is it the other way around?

Got a letter saying:

2nd September: No new AA Savings accounts from BM.

No changes to ongoing administration of existing accounts, which remain with BM (under AA branding).

No further action needed.

Archi_Bald

Does this mean AA are bowing out of the savings business?

ColdIron

They used to have great fixed rate accounts but nothing for a few years and the instant access ones are poor now so maybe they are

alanq

Archi_Bald wrote: »

Does this mean AA are bowing out of the savings business?

As not all AA branded savings products have been / are with BM it may be that there are plans to offer more products from other financial institutions.
(If I recall correctly several years ago there were AA branded fixed term accounts held with NatWest).

The current AA FAQs say
"Some deposits in AA branded savings accounts are held with Bank of Scotland plc....If you are unsure whether your account is held with Bank of Scotland plc please check your account literature."
http://www.theaa.com/savings/faqs_internet.html