Provided by Bank of Ireland UK.
A savings account exclusively for AA Members* with a rate of 0.60% gross/AER variable
Apply online for an AA Member Saver account
Summary Box and eligibility
Member Saver – Issue 16
|What is the interest rate?||Interest rate without bonus||0.60% gross/AER variable|
|Interest is calculated daily and paid annually on anniversary of account opening.|
|Can Bank of Ireland UK change the interest rate?||We have the right to change the interest rate on Member Saver. The reasons we may change it are outlined in section 10 'Changes to your account' of the General Savings Terms and Conditions. If we change your interest rate to your disadvantage, we will provide you with notice in writing a minimum of 14 days before the change takes effect, as long as you have at least £100 in your account.|
|What would the estimated balance be after 12 months based on a £1,000 deposit?||Projected balance after 12 months (0.60% for 12 months)||£1,006.00|
|This projection is provided for illustrative purposes only and does not take into account a customer’s individual circumstances. These assumptions are based on £1,000 deposit with no further deposits or withdrawals during the period.|
|How do I open and manage my account?||
The account is open to eligible individuals that:
|Can I withdraw money?||Yes, you can make free withdrawals with no penalties or notice periods online (no limit) and by phone (up to £50,000 each business day). All withdrawals will be sent to your Linked Account.|
|Additional Information||Interest is paid gross without the deduction of tax.|
Download and save the Summary Box.
Before you apply
Have your bank or building society account details to hand – we'll link them to your AA Savings Account.
- the General Savings Terms and Conditions, the Key Product Information Document, and the Transaction Information Box, as these documents along with the Summary Box make up your agreement with us.
- the Deposit Information Sheet.
If you wish to apply as a power of attorney, please complete and return the Power of Attorney application form to us.
How do I change my 6 digit security number?
Log in and select 'Manage your details' from the menu.
From here you can change your 6 digit security number. When choosing a new number we recommend you:
- Don't write it down
- Don't tell anyone else what it is
- Don't make it easy to guess, such as personal details
I've forgotten my log in details
If you've forgotten your 6 digit security number, or locked yourself out of your accounts, call us on 0345 266 0001.
We'll send you a new security number by post. This may take a few days to arrive.
If you've forgotten your User ID, call us on 0345 266 0001, and we will re-confirm over the phone.
What is a linked account?
To keep your money safe, we'll link all your AA savings to one UK bank or building society account in your name(s).
All deposits must be made from this account. We can't accept deposits from any other account.
All withdrawals will be sent back to this account
You can make internal transfers between your AA savings accounts.
How do I change my linked account?
Log in and select 'Manage your details' from the menu.
From here you can change your linked account.
For your security, when you change your linked account, your new linked account won't be available for withdrawals for a short while – we'll tell you the exact date when you make the request.
Meanwhile, you can still send deposits from, and making withdrawals to, your existing linked account.
How do I pay money in?
Payments from your linked account
You'll need your AA savings account number and sort code to hand.
Use the internet or telephone banking service of the bank or building society that you hold your linked account with, and set up a payment to your AA savings account.
You can make one-off payments or set up a regular payment by standing order.
You can make internal transfers between your AA savings accounts (excluding AA ISA products) at any time.
Log in and choose the account you wish to make the internal transfer from, and select 'Transfer between AA accounts'.
Log in and choose the account you wish to make the withdrawal from, and select 'Withdraw to linked account'.
When will withdrawals reach my linked account?
This will depend on the amount of the withdrawal and when you ask us.
Up to £99,999.99 – if you ask to take money out before 5pm on a business day it will reach your linked account the following business day. If you ask between 5pm and midnight, it will take two business days.
There is a daily limit of up to £50,000 if you make a withdrawal over the phone.
£100,000 or over – we use CHAPS for large payments. If we hear from you before 2pm on a business day, it will reach you linked account on the same business day. After 2pm, it will arrive on the following business day.
Check your bank or building society accepts CHAPS payment before you ask to move £100,000 or more to your account.
How do I close my account?
Log in and choose the account you wish to close.
Select either 'Withdraw to linked account' or 'Transfer between AA accounts', depending on whether you would like the closing balance to be sent to your linked account or another AA savings account.
Instead of entering a withdrawal amount on this page simply tick the 'Close this account' tick box.
How do I update my personal details?
It is important we hold up-to-date and correct personal details for you.
Log in and select 'Manage your details'.
Can a representative manage my account for me?
We can accept an Enduring Power of Attorney or a Property and Financial Affairs Lasting Power of Attorney registered with the Court of Protection. This provides the authority for your representative to open and manage accounts on your behalf.
We can't provide any advice about this so please contact your legal adviser. We will not normally accept any other form of third party authority.
Both the donor and representatives will be subject to our standard account opening checks. We will also need to see an original or certified copy of the Enduring Power of Attorney or Property and Financial Affairs Lasting Power of Attorney document.
For more information please call us on 0345 266 0001.
How do I notify the passing of an account holder?
We need the personal representative of the deceased account holder to send a certified copy of the death certificate to:
FREEPOST AA Savings
How do I make a complaint?
If you have a complaint, tell the AA Customer Care team.
AA Customer Care, PO Box 3191, Bristol BS1 9HY
Phone 0345 266 0001
If you're still unhappy, you can contact the Financial Ombudsman Service. Making a complaint will not affect your legal rights.
The Financial Ombudsman Service, Exchange Tower, London E14 9SR
Phone 0800 023 4567 Monday to Friday 8am and 5pm, Saturday 9am and 1pm
Email [email protected]
An AA Member is a customer that has arranged breakdown cover directly with the AA and not as part of a bank or vehicle manufacturer partnership program.
AER stands for Annual Equivalent Rate, and it illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross rate means that we'll not deduct tax automatically from your interest. You're responsible for paying any tax due to HM Revenue and Customs.
A linked account is a UK bank or building society current account in your name(s) that we link to your savings account. All deposits must be made from this account, and all withdrawals will be sent back to it.
Your savings are protected
Financial Services Compensation Scheme (FSCS)
Your eligible deposits with Bank of Ireland (UK) plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
This limit is applied to the total of any deposits you have with the following: Bank of Ireland UK, Post Office Money, and savings accounts under the AA Savings brand provided by Bank of Ireland UK. Any total deposits you hold above the £85,000 limit between these brands are unlikely to be covered.
Rates correct as at 31 August 2022.
* An AA Member is a customer that has arranged breakdown cover directly with the AA and not as part of a bank or vehicle manufacturer partnership program.
Bank of Ireland (UK) plc is authorised and regulated by the Prudential Regulation Authority and the Financial Conduct Authority (FCA), Financial Services Register number 512956. Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc, registered in England and Wales number 07022885, Bow Bells House, 1 Bread Street, London EC4M 9BE.