The Top Easy Access Savings Discussion Area

adindas

Thank you for your info, this is what is written on their website.

• A fixed bonus of 2.00% will be paid on the first anniversary of the account opening, provided the account remains open
• The bonus is only available during the first year of your account

Not sure, but I think it could also mean, the bonus 2% is not paid on 31 March, but it will be accounted on the first anniversary. But I agree this is still unclear and still need further clarification

Steve_xx wrote: »

I think I'm not being clear here. If you open an account today you will get the 2% interest paid into the account on 31 March this year. But, you wont get the 2% bonus until 12 months from today. Did you realise that?

G_M

This is a sort of instant saver/1 year saver crossbreed.

If you close the account in the first year you don't get the bonus (unlike most 'introductory' bonuses on instant savers), so the rate is only attractive if you plan to keep it fo 12 months +.

However unlike a 1 year fixed rate bond or similar, you do have the oprion/flexibility of early access.

You are also limited to £12K

adindas

It will suit for someone who has temporary cash such as house deposit. Save £12.000 before 31 March. On April 1, top up another £12.000 so in total will be £24000.

When Cash is needed, withdraw and keep minimum balance of £20.00 until it reaches anniversary ...

G_M wrote: »

This is a sort of instant saver/1 year saver crossbreed.

If you close the account in the first year you don't get the bonus (unlike most 'introductory' bonuses on instant savers), so the rate is only attractive if you plan to keep it fo 12 months +.

However unlike a 1 year fixed rate bond or similar, you do have the oprion/flexibility of early access.

You are also limited to £12K

DragonQ

Should be getting my welcome pack and online banking details from the AA any day now, yay. The letter I had confirming my application definitely said "AA Internet Extra Issue 5", which is the 3.2% version. Must've got in there right before they closed applications.

mihaid

10_66 wrote: »

(I transfer funds from elsewhere each month and back out again)


............

Surely if you transfer the money back again you only earn the 6% for a few days resulting in interest big as peanuts.

mihaid

If I write a letter to my bank asking them to let me know via letter when the interest rate changes, will they be obliged to do so?

Steve_xx

mihaid wrote: »

If I write a letter to my bank asking them to let me know via letter when the interest rate changes, will they be obliged to do so?

No...........

murphydavid

mihaid wrote: »

If I write a letter to my bank asking them to let me know via letter when the interest rate changes, will they be obliged to do so?

Hmm
Usually, to get a top interest rate you will be going for an account with a fixed term bonus and it will be presented to you in a form like: 0.5% interest with a 2.3% bonus. Bonus terminates 12 months after your first deposit is made.
So note the date the bonus ends in your diary (on a date 3 weeks before) giving you time to move your money and get another bonus.

DragonQ

Deposited my savings by faster payments into my shiny new 3.2% AA Internet Extra Issue 5 today.

Should be there in an hour or so at most.

robotrobo

DragonQ wrote: »

Deposited my savings by faster payments into my shiny new 3.2% AA Internet Extra Issue 5 today.

Should be there in an hour or so at most.

i joined the aa LAST WEEK !!, TRANSFERED SOME MONEY FROM MY LINKED ACCOUNT & IT TELLS YOU IT WILL TAKE 3 DAYS BEFORE THE COMPLETION, SORRY ABOUT CAP ON!!