The new account, which does not include an introductory bonus, will offer an interest rate of 6.30% gross/AER, and requires a minimum deposit of GBP500, while the maximum deposit stands at GBP500,000. It will also offer unlimited withdrawals and deposits with no penalty.
Furthermore, the account will offer full online functionality and security. Money can be transferred by bankers automated clearing services and customers can undertake and track all of their transactions online at any time.
Mark Huggins, managing director of AA Financial Services, said: At a time when there is concern about financial stability in some institutions, the AA is offering a secure, well-managed savings account. It’s easy to operate and fully transparent, as well as offering one of the best easy-access rates available underpinned by one of Britain’s most trusted brands.
The account will be attractive to those who feel their current savings are being eroded by poor interest rates and reflect growing confidence in using the internet for financial transactions. Moving accounts has never been easier.
