Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • chansadog
    • By chansadog 30th Sep 17, 11:46 AM
    • 1Posts
    • 0Thanks
    chansadog
    Ford money
    • #1
    • 30th Sep 17, 11:46 AM
    Ford money 30th Sep 17 at 11:46 AM
    Hi, I have only just joined this forum so apologises if not submitting right.
    Just wondered if anybody has heard of or used Ford Money. They never came up on Martins site when I was looking for best fixed rate deal for 12 months. I have stumbled across them via browsing for best rates, they are offering a 1 year fixed rate Bond with an interest of 1.7 AER.
    I'm just after some reassurance before I go ahead. Andy advice will be greatly appreciated.


    Regards,
    Andy.
Page 1
    • worried jim
    • By worried jim 30th Sep 17, 12:04 PM
    • 8,766 Posts
    • 13,375 Thanks
    worried jim
    • #2
    • 30th Sep 17, 12:04 PM
    • #2
    • 30th Sep 17, 12:04 PM
    One of the World's largest and most famous companies - you'll be fine.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • ColdIron
    • By ColdIron 30th Sep 17, 12:21 PM
    • 3,660 Posts
    • 4,402 Thanks
    ColdIron
    • #3
    • 30th Sep 17, 12:21 PM
    • #3
    • 30th Sep 17, 12:21 PM
    Ford are fine, FSCS protected etc but you can get 1.95% from Metro Bank who are also fine
    http://www.thisismoney.co.uk/money/article-1621507/Best-savings-rates-Fixed-rate-accounts.html
    • badger09
    • By badger09 30th Sep 17, 12:37 PM
    • 5,579 Posts
    • 4,887 Thanks
    badger09
    • #4
    • 30th Sep 17, 12:37 PM
    • #4
    • 30th Sep 17, 12:37 PM
    I have 2 regular savers with Ford Money opened when they were offering market leading rates and featured on this forum.

    Easy to open and operate. One minor niggle is the number of emails they send regarding 'secure messages', which usually tell me only that my deposit has arrived. Other than that, no complaints.
    • colsten
    • By colsten 30th Sep 17, 12:59 PM
    • 8,814 Posts
    • 7,509 Thanks
    colsten
    • #5
    • 30th Sep 17, 12:59 PM
    • #5
    • 30th Sep 17, 12:59 PM
    One of the World's largest and most famous companies - you'll be fine.
    Originally posted by worried jim
    Their size and fame is totally meaningless. The only thing that counts is whether they have FSCS protection - which they do, and therefore it is safe to deposit up to £85K with them.
    • bigadaj
    • By bigadaj 30th Sep 17, 7:43 PM
    • 10,803 Posts
    • 7,100 Thanks
    bigadaj
    • #6
    • 30th Sep 17, 7:43 PM
    • #6
    • 30th Sep 17, 7:43 PM
    Their size and fame is totally meaningless. The only thing that counts is whether they have FSCS protection - which they do, and therefore it is safe to deposit up to £85K with them.
    Originally posted by colsten
    It's not totally meaningless but it is a secondary factor.
    • soulsaver
    • By soulsaver 30th Sep 17, 8:35 PM
    • 1,490 Posts
    • 540 Thanks
    soulsaver
    • #7
    • 30th Sep 17, 8:35 PM
    • #7
    • 30th Sep 17, 8:35 PM
    On that note Al Rayan bank offers 1.9% profit for a one year fixed... FSCS covered..
    • Vortigern
    • By Vortigern 30th Sep 17, 9:29 PM
    • 2,319 Posts
    • 1,530 Thanks
    Vortigern
    • #8
    • 30th Sep 17, 9:29 PM
    • #8
    • 30th Sep 17, 9:29 PM
    One minor niggle is the number of emails they send regarding 'secure messages', which usually tell me only that my deposit has arrived.
    Originally posted by badger09
    Last month they sent a secure message to say they are no longer sending secure messages to acknowledge each deposit. They said they would send a text instead.

    After my most recent deposit, there was no secure message- and no text either.
    • badger09
    • By badger09 1st Oct 17, 4:18 PM
    • 5,579 Posts
    • 4,887 Thanks
    badger09
    • #9
    • 1st Oct 17, 4:18 PM
    • #9
    • 1st Oct 17, 4:18 PM
    Last month they sent a secure message to say they are no longer sending secure messages to acknowledge each deposit. They said they would send a text instead.

    After my most recent deposit, there was no secure message- and no text either.
    Originally posted by Vortigern
    • Steve_xx
    • By Steve_xx 1st Oct 17, 6:54 PM
    • 6,432 Posts
    • 2,682 Thanks
    Steve_xx
    On that note Al Rayan bank offers 1.9% profit for a one year fixed... FSCS covered..
    Originally posted by soulsaver
    Note that this is "expected" to earn 1.91% - it is not guaranteed!
    • mollycat
    • By mollycat 1st Oct 17, 7:11 PM
    • 950 Posts
    • 1,911 Thanks
    mollycat
    Their size and fame is totally meaningless. The only thing that counts is whether they have FSCS protection - which they do, and therefore it is safe to deposit up to £85K with them.
    Originally posted by colsten
    100% correct/

    Anyone disputing this is simply a "got to get the last word" freak
    • bigadaj
    • By bigadaj 2nd Oct 17, 12:09 PM
    • 10,803 Posts
    • 7,100 Thanks
    bigadaj
    100% correct/

    Anyone disputing this is simply a "got to get the last word" freak
    Originally posted by mollycat
    We appear to have a little too much time on our hands by the look of things.

    The backing of a major multi national is of course an added benefit.

    No one would have given much thought to the fscs protection prior to the gfc, so whilst the fscs protection is a primary concern then additional financial clout is useful.
    • pafpcg
    • By pafpcg 2nd Oct 17, 6:57 PM
    • 170 Posts
    • 132 Thanks
    pafpcg
    The backing of a major multi national is of course an added benefit.
    Originally posted by bigadaj
    But of minimal value - big multinationals can divest themselves of subsidiaries or just shut them down within days or weeks once their boards have decided to make a change. My guess is that Ford are trying to emulate GM which has tried to follow GE (General Electric) in evolving from a manufacturing company to a finance company. In any case, with a cloud hanging over the future of car leasing to retail customers, I wouldn't rely upon Ford being around in the long term. FSCS is really the only guarantee. (Disclosure: I've invested in the Ford regular saver.)
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,103Posts Today

7,909Users online

Martin's Twitter