TheAA Savings 1.43% TopCashback £15.15

Dorian1958

It's an investment ISA with a £50 penalty if you cash in within 5 years. There is only one choice of fund. You may get back less than you invest. You may already have opened this type of ISA this tax year. Apart from that, might suit some...

adindas

Dorian1958 wrote: »

It's an investment ISA with a £50 penalty if you cash in within 5 years. There is only one choice of fund. You may get back less than you invest. You may already have opened this type of ISA this tax year. Apart from that, might suit some...

From Here:
https://www.scottishfriendly.co.uk/files/5515/5654/3611/My_MoneyBuilder_Select_ISA_Product_Guide_0419_WEB.pdf

"If you fully cash in your policy, or request a withdrawal which would leave a value of less than £50 in your policy, within the first 5
years of setting it up there will be a charge of £50 deducted from your policy."

What about after six monrh and you get your cash back, you withdraw most of them and just leave it £50 to run until five years, no need to add anymore money to it?.

Dorian1958

Fair enough, but your original question was based on the premise of closing the account., not leaving £50 in it. Up to you to decide if it is worth hanging on for the balance of 5 years to save £50.

adindas

jeepjunkie wrote: »

Go for it and report back. That's how forums like this work. Someone has to take the plunge and document it for others to follow if they so wish

Well, it is also the function of the forum to ask people opinion and to scrutinise the deal. Other people might see the thing that you do not see.

Concorde178

Hi all has anyone been refused an account with the aa for seemingly no reason? I got a letter saying no and making it look like there might be a money laundering issue which made me worry that someone was applying in my name. Credit reporting checked - nothing flagged, perfect scores, CIFAS checked - confirmed nothing flagged in my name at all and plenty of money available in current account just waiting to be saved... I am in Lloyds and wanted to move it to save the extra from my club Lloyd’s account so I was wondering if anyone here might know why. Oh and I know it’s my first post but I am not a troll just a long time lurker (10+ years) I am just someone who is nervous about online forums so please accept my statements as true. Concorde178.

typistretired

Must be something to do with Bank of Ireland. Both my husband and I have applied for PO savings accounts in the past. His is opened straight away. I get the message they need to do further checks and it is opened one week later. Same happened when last week we both applied for the AA one to get the cashback. His was opened straight away mine was opened a week later after checks. Had to put a support claim into topcashback as the cashback did not track.

badger09

Concorde178 wrote: »

Hi all has anyone been refused an account with the aa for seemingly no reason? I got a letter saying no and making it look like there might be a money laundering issue which made me worry that someone was applying in my name. Credit reporting checked - nothing flagged, perfect scores, CIFAS checked - confirmed nothing flagged in my name at all and plenty of money available in current account just waiting to be saved... I am in Lloyds and wanted to move it to save the extra from my club Lloyd’s account so I was wondering if anyone here might know why. Oh and I know it’s my first post but I am not a troll just a long time lurker (10+ years) I am just someone who is nervous about online forums so please accept my statements as true. Concorde178.

What did the letter say?

Concorde178

Right the letter said.... thank you for your application for the aa savings account. When we processed your application we used fraud prevention databases from Experian ltd and CIFAS (The UK’s fraud prevention service) we have carefully considered your application and unfortunately based on this analysis we are not able to offer you a savings product at present. If your circumstances change in the future we may be able to reconsider another application in the future.

The enclosed CIFAS leaflet provides details on how to obtain information held on you.

However today a letter arrived from CIFAS to say..... we do not hold any data on you Ms Concorde.... so I am confused as to what is going on. I applied like some others via topcashback and had no thoughts of being turned down as I don’t owe anything but my mortgage and I owe about 60% of my house after only just shy of 8 years, everything is up to date. Credit card is paid in full every month as it is only used as it has cash-back..

Anyone work for the bank of Ireland?

masonic

Most likely it was something in your Experian credit file. It would be worth checking the information in your Experian credit report matches the information you provided in your application, that you're shown as being on the electoral roll at your current address, you have some accounts recorded going back a few years, there is no dubious looking activity recorded, etc.

Nuggy96

Hey,

I just opened an account, said I would get a security code delivered within 5-6 days. Did you guys just deposit the £100 straight away or wait for the security code first?

second question is, did anyone get a confirmation email upon opening the AA account, because i didn't receive anything

Thanks in advance