MSE News: Car giant Ford gears up to launch market-leading regular savings

badger09

Steve_xx wrote: »

The answer I gave on post #238 is that that I was given by their agent.

I was given the same answer, in relation to both the RS & the RS ISA.

My initial deposits were 'posted' on 22nd and 'processed' on 23rd and I was told my next deposit could be on 22nd as that was the relevant date:cool:.

EachPenny

Steve_xx wrote: »

The answer I gave on post #238 is that that I was given by their agent.

Indeed, but where did their agent get the answer from as it isn't in the T&C's.

If logic were used in any of this then it would make sense for it to be calendar month, that way people would be able to make their 12th deposit before the end of the 2017/18 tax year - whereas if it was the anniversary month the 12th deposit would be in the following tax year unless you go to the trouble of opening a Flexible Cash ISA as well to receive and hold the 12th deposit and then do an ISA Transfer in 2018/19.

One could almost say the drafter of the ISA T&C's deliberately removed the word 'anniversary' for that very reason... but who of us knows for sure.

Steve_xx

EachPenny wrote: »

Indeed, but where did their agent get the answer from as it isn't in the T&C's.

If logic were used in any of this then it would make sense for it to be calendar month, that way people would be able to make their 12th deposit before the end of the 2017/18 tax year - whereas if it was the anniversary month the 12th deposit would be in the following tax year unless you go to the trouble of opening a Flexible Cash ISA as well to receive and hold the 12th deposit and then do an ISA Transfer in 2018/19.

One could almost say the drafter of the ISA T&C's deliberately removed the word 'anniversary' for that very reason... but who of us knows for sure.

I can't answer where the agent got their fact from.

In your second paragraph you mention the troublesome end of tax year debacle. This of course would be a less burden to those holders of multiple accounts.

In addition, I think (correct me if I'm wrong here) that it is quite ok to miss payments and if this is indeed the case then one could simply stop before tax year end. In any case, it seems to me that there would only be one payment missing.

schiff

Could we possibly bring an end to this interminable discussion about the Ford Money accounts on Thursday so we can all go out and vote?

Let's have a vote on it, get us in the mood.

EachPenny

Steve_xx wrote: »

In your second paragraph you mention the troublesome end of tax year debacle. This of course would be a less burden to those holders of multiple accounts.

In addition, I think (correct me if I'm wrong here) that it is quite ok to miss payments and if this is indeed the case then one could simply stop before tax year end. In any case, it seems to me that there would only be one payment missing.

But of course the drafter apparently didn't anticipate people having more than one ISA RS, so therefore working on a calendar month and allowing the 12th payment in 2017/18 would have been far more sensible.

Yes, payments can be missed, but again it would then have been more sensible to offer it as an 11 month payment product (effectively similar to some of the Virgin RS accounts if you aren't quick off the mark) rather than having all the hassle of managing the spanning of tax years. On the other hand, encouraging people into making the 12th deposit in the following tax year could ensure they then stick with Ford for the whole of their 2017/18 allowance... if so, a clever marketing strategy.

I realise I've used the word 'sensible' in both paragraphs. I humbly apologise to everyone for that error.

EachPenny

schiff wrote: »

Could we possibly bring an end to this interminable discussion about the Ford Money accounts on Thursday so we can all go out and vote?

But this is a new discussion about Ford Money accounts - it is nothing like the discussion about Ford Money accounts that happened in the past, nor is it like the discussion put forward by the opposition.

eskbanker

schiff wrote: »

Could we possibly bring an end to this interminable discussion about the Ford Money accounts on Thursday so we can all go out and vote?

Let's have a vote on it, get us in the mood.

Are you suggesting that those who are calling this a Con are Labouring the point?

EachPenny

eskbanker wrote: »

Are you suggesting that those who are calling this a Con are Labouring the point?

Or maybe some of those who didn't get the multiple 4% ISA's are feeling a bit Green

schiff

EachPenny wrote: »

Or maybe some of those who didn't get the multiple 4% ISA's are feeling a bit Green

You have three nights kip before polling day.

You should devote some time to it at least.

EachPenny

schiff wrote: »

You have three nights kip before polling day.

You should devote some time to it at least.

Ukip if you want to - I'm waiting here till the Ford RS issue 2 is launched.