Business customers | Personal customers Route planner Breakdown Insurance Vehicle Finance Travel Your account Help EASY ACCESS ISA PRODUCT A new way to grow your savings The AA ISA is provided by OneFamily. Money in this AA ISA is deposited with Bank of Ireland UK. Easy Access 0.25% Tax free*/AER** variable rate – includes a fixed bonus of 0.24% for 12 months The AA ISA lets you put money into easy access or fixed term products, or even split your savings across both – all within one ISA. You can pay up to £20,000 this tax year subject to any contributions in other types of ISAs. THE FEATURES: Rate includes a fixed bonus of 0.24% tax free* for 12 months from account opening. After 12 months the rate changes to 0.01% tax free*/AER** variable. Interest calculated daily and paid in March. Open an account with a minimum deposit of £100. Transfer in ISAs held elsewhere – please check with your current provider if fees apply. GETTING YOUR MONEY: Minimum withdrawal is £10 or the value of the product, whichever is less. Partial transfers out aren't permitted – transfers out in full only. Unlimited free withdrawals. Withdrawing funds into your nominated account will have tax implications. Please refer to the summary box for full details. Withdrawals into your nominated account should appear within 4 working days from the day we process your request. GOOD TO KNOW: Manage your account 24/7. Every AA ISA comes automatically with a holding account, where you can consolidate or split your existing savings before moving them to another product. Summary Box Before you start, please read the Summary Box below, the Key Information Pack, which includes the Key Features and Terms and Conditions of the AA ISA, to make sure this account is right for you If you already hold an AA ISA, simply log in to your account and open new products from there. Any additional products you open will be part of your existing AA ISA. You can only subscribe to one cash ISA each tax year. Account Name AA ISA What is the interest rate Holding Account Easy Access Issue 22 Member Easy Access Issue 8 Interest Rate Fixed Rate Issue 20 Interest Rate without bonus 0.01% tax-free*/ AER** variable 0.01% tax-free*/ AER** variable 0.35% tax-free*/ AER** variable 1 Year Term 2 Year Term Interest Rate with Bonus N/A 0.25% tax-free*/ AER** variable (includes a fixed bonus of 0.24% for the first 12 months) N/A 0.35% tax-free*/ AER** Fixed 0.40% tax-free*/ AER** Fixed Annual interest, calculated daily, will be paid on 20 March each year. Annual interest, calculated daily, will be paid on the anniversary of product opening. Can Bank of Ireland UK change the interest rate Yes, we have the right to change the interest rate on your account. The reasons we may change your rate are outlined in the Interest Rates section of the Terms and Conditions. If we change your interest rate to your disadvantage, we will notify you personally within a minimum of 14 days of the change taking effect, as long as you have at least £100 in your account. No, the interest rate is fixed during the term of the account. At the end of the fixed term the value of the Fixed Rate, along with any interest earned, will be paid into the Holding Account of the AA ISA, where it will earn a variable rate of interest. What would the estimated balance be based on a £1,000 deposit? After 12 months £1,000.10 £1,002.50 £1,003.50 After 12 months £1,003.50 N/A After 24 months N/A £1,002.60 N/A After 24 months N/A £1,008.02 These assumptions are based on a £1,000 deposit with no further deposits or withdrawals during the months of the projection. Projection based on annual interest option with interest paid into the Account (compound interest). The projection is provided for illustrative purposes only and does not take into account your individual circumstances. How do I open and manage my account? Eligibility You can open an AA ISA if you’re over the age of 16, a UK resident and resident in the UK for tax purposes. This doesn’t include the Channel Islands and the Isle of Man. You can open an AA ISA as a new cash ISA for this tax year (6 April to 5 April), or transfer funds in from an existing cash ISA. To apply for the AA ISA you have to hold a UK bank or building society personal account in your name. If you already hold an AA ISA with One Family, you will not be able to open another one. Opening your account You can only apply online. Minimum balance to open the account is £100 for the Holding Account and Easy Access products and £500 for the Fixed Rate products. You cannot pay into more than one cash ISA in the same tax year. On opening an AA ISA, you will automatically have a Holding Account opened for you. You can also choose the Holding Account to make your initial deposit or transfer in from another ISA you hold when opening your AA ISA. The AA ISA allows you to split your cash ISA savings into a selection of variable and fixed rate products, all held within your online account. You can open an Easy Access or Fixed Rate product with either a deposit, transfer in of another ISA you hold or with a money movement from another product in your AA ISA (if permitted). Before making any decision to transfer to us, you should check if your current provider will charge a fee. Fixed Rate products can be opened with a single deposit only and once opened, you will not be able to make further deposits, transfers in or money movements. The Member Easy Access product is exclusively available to AA Members. AA Member means that you have arranged UK Breakdown cover (excluding Basic Breakdown Cover) with the AA and not as part of a bank, business or vehicle manufacturer partnership program. Managing your account You can only manage your account online. You cannot access your AA ISA by telephone. Once your AA ISA is open you’ll be able to take out new products (when available) and move money between existing products already held in your account (if permitted), without completing further applications. Once you’ve logged into your account, you can move money between or make additional deposits or ISA transfers into existing products (if permitted) and request withdrawals. You will also be able to contact us by sending ‘secure messages’. If you wish to switch into or out of this account please go to www.theaa.com to view your options. Note that if this is not an ISA Transfer and you close your ISA or move funds to a non-ISA Account, your money will not benefit from the tax advantages of ISAs in the future. Can I withdraw money? There are no restrictions on the number of withdrawals that can be made to your Nominated Account. Any payment sent to your Nominated Account will no longer benefit from the tax advantages of ISAs. The minimum amount you can withdraw from any product is £10, or the value of that product, whichever is less. Money can also be moved without restriction to another product in your AA ISA that accepts money movements (minimum amount £1). If you have paid into your AA ISA in the same tax year you close it, you won’t be able to pay money into another cash ISA in that tax year. Withdrawals and money movements are not allowed during the fixed rate term. If you need to access your money during the fixed rate term a Breakage Charge will apply. If you select a 1 year term, the Breakage Charge will equal 90 days' loss of interest. If you select a 2 year term, the Breakage Charge will equal 180 days' loss of interest. If the interest you've earned doesn't cover this, you may get back less than you paid in. If you need to close this product during its fixed term, you can request to have the money paid to your Nominated Account or to the Holding Account. After the end of the fixed rate term the value of the Fixed Rate, along with any interest earned, will be paid into the Holding Account. If you already hold an AA ISA and open a Fixed Rate product, you can request to close the product within 14 days and we will waive the Breakage Charge. Please see the ‘Making withdrawals, closing products and closing your AA ISA’ section in the Terms and Conditions for more information. The AA ISA does not have flexible features. This means that once withdrawn to your Nominated Account, your money will lose the tax advantages of ISAs and cannot be replaced in your ISA without affecting your annual ISA allowance. Transfers: Partial transfers are not permitted, and you will not be able to transfer individual products held in your AA ISA. You can, however, transfer your AA ISA in full to another ISA at any time. If you transfer your AA ISA and you have money in a Fixed Rate product which is in its fixed term, a Breakage Charge will be applied to that product. Cancellation: You cannot cancel individual products in your AA ISA. However, you can cancel your entire AA ISA within 14 days from the date your account is opened. If you do this, your AA ISA and any products in your account will be closed. Additional Information The Holding Account may pay a lower rate of interest than other variable or fixed rate products you can hold within your AA ISA. As such, it should be considered as a short term home for your cash ISA savings. If you are using the Holding Account to consolidate or split your cash ISA savings before opening a specific product, there is a risk that the product or rate of interest you wanted will no longer be available by the time any funds are received. * Tax-free means the interest paid will be free of UK Income Tax and Capital Gains Tax. ** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. A few things to have ready before you apply Your Bank or Building Society Account details – we'll link these to your AA ISA so you have somewhere to make withdrawals to. Your National Insurance number. Your Debit Card – if you want to make a deposit by Debit Card. Your existing ISA details – if you want to transfer-in an ISA you hold elsewhere. Download and save the Summary Box. Please ensure you read the Key Information Pack before you apply. I have read the Summary Box and the Key Information Pack above, and accept all the eligibility requirements FAQs Definitions ^ AA Member 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 illustrates what the interest rate would be if interest was paid and compounded once each year. Breakage charge A charge for early closure of a Fixed Rate product. Early closure includes closing a Fixed Rate product while it's within a fixed term, or transferring or closing your AA ISA while a Fixed Rate product is within a fixed term. Early closure does not include closures made within the first 14 days of a product being opened. Fixed A fixed rate of interest doesn’t change during the fixed term. Nominated Account A Nominated Account is a current account that we link to your savings account so that you can make payments out of your AA ISA safely and securely. If you make a withdrawal, or close your AA ISA, your money will be sent to this account. It must be a UK personal bank or building society account in your name(s) that accepts Direct Credits. * Tax-free Tax free means the interest paid will be free from UK Income Tax and Capital Gains Tax. Variable A variable rate of interest can go up or down. Your savings are protected Already a savings customer with us? Head straight to our Member area for information more relevant to you. Existing customers FSCS Protected Need help? 0333 2205069 Lines are open Monday to Friday 9am to 7pm, Saturday 9am to 1pm. Closed on bank holidays. 03 numbers cost the same as calling 01 and 02 numbers. Calls may be monitored and recorded for training and compliance purposes. Rates correct as at 20 April 2021. The tax advantages of ISAs depend on your individual circumstances and the tax treatment of ISAs may change in the future. 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. The AA ISA is provided by OneFamily. Money in this AA ISA is deposited with Bank of Ireland UK. The AA and OneFamily are unable to provide advice on this product. If you have doubts about the suitability of this product, please seek independent financial advice. OneFamily is a trading name of Family Assurance Friendly Society Limited (incorporated under the Friendly Societies Act 1992, Reg. No. 939F), of which Family Investment Management Limited (Co. No. 1915516) and Family Equity Plan Limited (Co. No. 2208249) are subsidiaries. Registered in England and Wales at 16-17 West Street, Brighton BN1 2RL, United Kingdom. Family Assurance Friendly Society Limited is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Family Investment Management Limited and Family Equity Plan Limited are authorised and regulated by the Financial Conduct Authority. 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. Connect with us Home Savings accounts Easy Access Cash ISA About us Gender pay gap Contact us Apps Careers Modern slavery Terms of use Privacy notice Privacy hub Cookies © Automobile Association Developments Ltd. 2021