Notice account

A type of savings account that works like a halfway house between a fixed term account and an instant access account.

In the AJ Bell Cash savings hub, you can deposit a set amount of money into a notice account, and to withdraw it you need to give notice (i.e. request to withdraw your money). The amount of notice you’ll need to give will vary by accounts, and the rate of interest on a notice account is variable too.

If the bank is changing their rate, they’ll let you know. You’ll then have the option to terminate your account by giving the required period of notice. The notice period for a reduction in the rate will be as long as the notice period for terminating the savings account.