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Ford Money

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  • Archie_Duke
    Archie_Duke Posts: 287 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    msallen wrote: »
    Hmm, didn't think of that. I simply made 11 monthly payments and didn't bother with the last in this FY. For the sake of a month's interest on £250 I'm happy enough though.

    Skating on thin ice with their terms & conditions with this though:
    The minimum deposit for a Regular Saver Cash ISA is £25. You can make unlimited deposits each month as long as the minimum value is not less than £25 and the overall total does not exceed £250 a month.
    If you didn!!!8217;t deposit the minimum I would have thought there would be problems with them paying any of the interest.
    Arch
  • soulsaver
    soulsaver Posts: 6,607 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Archie_Duke wrote: »
    Skating on thin ice with their terms & conditions with this though:


    If you didn!!!8217;t deposit the minimum I would have thought there would be problems with them paying any of the interest.


    No thin ice...

    "Our Regular Saver offers the peace of mind of a fixed interest rate for the full 12 month term. You cannot make withdrawals, as the idea is to encourage you to save regularly and build up a lump sum. You can deposit between £25 and £250 each month in any number of deposits as long as you don't exceed the £250 maximum allowed and there are no penalties if you don't make deposits every month."
    Top Easy Access acs Ranked by rate: Top of The Pots - **No Chat** — MoneySavingExpert Forum
  • B_G_B
    B_G_B Posts: 502 Forumite
    Archie_Duke wrote: »
    Skating on thin ice with their terms & conditions with this though:

    Not really. The T&c's do state a minimum deposit of £25 (ie you can not deposit say £20.
    They then go on to say.....
    "There is no loss of interest if you miss a month!!!8217;s deposit.
    Any missed deposits or unused allowance will not be carried over to the following month."

    soulsaver beat me to it.
  • mcowie
    mcowie Posts: 1 Newbie
    How much can you invest into Ford Money at a time?
  • RG2015
    RG2015 Posts: 6,048 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 23 January 2019 at 10:51AM
    mcowie wrote: »
    How much can you invest into Ford Money at a time?
    You can deposit from £1 to £2 million in their instant access savings accounts and from £500 to £2 million in their fixed rate savings accounts as stated on their website.

    Bear in mind that they offer savings accounts not investment products.

    https://www.fordmoney.co.uk/
  • Sylvia1982
    Sylvia1982 Posts: 193 Forumite
    Thank you for this. Wasn't aware of their interest rates
    Must save to live, not just live to save!!! :think:
    Challenge Save 12k in 2019 #141 £6,143.34/£6k
    Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
    :A
    :A'Saving again after parting with a lot of money enjoying life:rotfl::A
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