Frequently Asked Questions
All you need to know about Telephone Access Accounts
Opening a telephone savings account
Is there a minimum or maximum I can invest?
The minimum opening balance is £500 and the maximum balance is £500,000.
What type of identification do I need to open an account?
Just like any other financial organisation, we're obliged to confirm the identity and address of every applicant by law. This is to comply with money-laundering regulations and to protect our customers from fraud. This may happen if you're a new customer or you've been a customer for some time.
New AA Telephone Access Plus Account customers
If you are opening an account we are able to access credit reference and Fraud Prevention Agency databases to check that the details you've supplied us are correct. This will register as a search of the database, but not as a credit score, so won't affect your credit rating.
In the majority of cases this will enable us to open your AA Telephone Access Plus Account without the need for any paper-based identification. We will advise you if we require further proof of identification.
How will my personal details be used?
Any information you provide will be passed to and held by Automobile Association Personal Finance Limited, the AA, Birmingham Midshires and the HBOS Group of Companies and used for Marketing purposes. 'The AA' means any company from time to time forming part of the AA group of companies. Birmingham Midshires means Birmingham Midshires and other companies in the HBOS group. We may use your information to inform you about any products and services offered by us and selected third parties, unless you have already asked us not to do so. This may be by letter, telephone or other reasonable communication. We will only contact you by fax or email where you have given us your consent.
You have the right of access to information we hold about you on our records (we reserve the right to charge an administrative fee). If there is anything incorrect or inaccurate, you have the right to have it amended.
You have a right at any time to stop us from contacting you or giving your details to others for these purposes. If you wish to exercise your right to opt out, please follow the instructions that are included with your application pack or refer to Your right to your information, how to contact us.
Managing your account
How do I make a withdrawal from my account?
Withdrawals from a telephone account can only be made over the telephone. We'll need to confirm your identity by asking you a series of security questions. Withdrawals will then be sent to your nominated bank account by Banking Automated Clearing System (BACS).
How can I change my linked bank account?
To change a linked bank account, you'll need to set up a new direct debit. Please call the AA Savings Team on 0845 603 6302*.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
What if I forget my password?
If you forget your password you will need to request a Security Tag by calling the AA Savings Team on 0845 603 6302* and select option 1. The Security Tag will then be sent by post to your registered address and will explain what you need to do next. Once security has been set up you will then receive a confirmation letter.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
How do I request my balance, tax certificate or maturity certificate?
If you require any of these services please call us on 0845 603 6302*. We'll then be able to take you through your telephone security and confirm the details you require or arrange for the information to be posted to you.
Please note: if you are having interest paid annually, you are unable to request a tax certificate on your account until after maturity. Monthly interest account customers can ring 0845 603 6302* to request a tax certificate, if required.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
Making a deposit by standing orders and regular transactions
You can set up standing orders on your telephone accounts to have funds regularly transferred to another account held with the AA or to an external account held with another provider.
To set up a regular transfer from an external account to an account held with the AA, you'll need to supply the following bank details to your external account provider:
Account name: The AA
Sort code: 20-97-78
Account number: 70372609
Reference: Your AA Telephone Savings account number (your account number should be 10 digits)
Can I make deposits/withdrawals by cheque?
We will only accept the opening deposit by cheque. Further deposits/withdrawals would need to be made by direct debit from your linked account.
Can I have a statement every month?
Statements are sent automatically to AA Telephone Savings Account customers annually. If you need an interim statement, we can arrange this at your request.
I have recently changed my name. What do I need to do?
There are three main reasons for which you may need to request a change of name: marriage, Deed Poll, reversion to maiden name following a divorce by Decree Absolute.
So that we can amend your name on our records, we require the original or a certified copy of the certificate and written authority with previous and present signatures.
Please send all correspondence to:
AA Savings Team
Birmingham Midshires
PO Box 81
Wobaston Road
Wolverhampton
WV9 5HZ
If there is anything else we can do for you please call us on 0845 603 6302*.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
How do I change the address on my telephone account?
You can call the AA Savings Team on 0845 603 6302*. If you have a joint account, we need to speak to both applicants in order to change address details.
Alternatively you can send a letter of authority, signed by all parties on the account, to our Corporate Centre at Pendeford.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
Can I change account holders?
Customers can choose to change the set up of account holder(s) on the account. This may involve adding new holder(s) or the removal of existing holders.
To be able to amend the account you'll need to complete a Form of Transfer. A Form of Transfer can be obtained by calling the AA Savings Team on 0845 603 6302*.
If the new holder does not already hold an account with the AA we'll need them to provide us with suitable identification documents.
Please send all correspondence to:
AA Savings Team
Birmingham Midshires
PO BOX 81
Wobaston Road
Wolverhampton
WV9 5HZ
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
What do I do about tax?
If you are a taxpayer, we will automatically take care of the basic-rate tax liability for you. If you're liable to pay a higher rate of tax, you'll have further tax to pay. The HM Revenue and Customs requires that, on your annual tax return, you declare all interest you receive.
If you're a non-tax payer you can reclaim the income tax, which we deduct. Please phone our AA Savings Team on 0845 603 6302* to register for gross interest. You'll need your National Insurance number to hand when you call.
If you're opening a joint account, it's possible for interest to be paid part net and part gross to a maximum of two account holders, one of whom must be a non-tax payer.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.
How is interest paid?
Depending on your account type, interest can be paid to either:
- A bank or building society account elsewhere
- Another AA Savings account
- Back to the account
If transferring interest to another bank or building society, it may take up to three banking days following the interest payment date to arrive on your designated account.
How do I close my telephone account?
To close your telephone account, please call the AA Savings Team on 0845 603 6302*, answer your account specific questions, and we'll close your account and send the money to your linked account using BACS.
* Calls may be monitored and recorded for quality assurance and compliance. Lines are open Monday to Saturday 8am to 8pm. Call charges may apply.