The AA has announced a new partnership with the UK arm of the Bank of Ireland to offer a range of banking products, including savings, personal loans, credit cards and ultimately, mortgages. The partnership is for a 10 year period, but unlike an earlier financial services partnership with HBOS (prior to the financial crisis), it is understood that this is not in the form of a joint venture.
The AA currently only offers savings accounts to customers with Birmingham Midshires, but has stopped offering credit cards and personal loans which it recently provided through small-scale partnerships with MBNA and Co-Operative Bank respectively. An AA-branded credit card will be the first product to be launched via the new partnership.
Bank of Ireland UK continues to work with the Post Office in a similar capacity. This partnership, which started out as a joint venture in 2004, was renewed in 2012 (no longer as a JV) and extended until 2023.
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