The account has been launched to maintain the AA’s best-buy position even though the Bank of England has announced a 0.25 reduction in the base rate. It replaces the Telephone Access Account which offered 6.30% gross/AER, but without a bonus. The new account reverts to 6.30% on expiry of the bonus. The new account can be opened with anything from GBP500 to GBP500,000 and allows unlimited withdrawals and deposits with no penalty.
Mark Huggins, managing director of AA Financial Services, said: This account is similar to the account it replaces, but with the important addition of the 0.20% ‘icing on the cake’. It provides a top interest-paying option for those who prefer to use the telephone to manage their financial affairs, rather than the internet. Plus, it’s a secure, well-managed account from one of Britain’s most trusted brands.
