The Top Easy Access Savings Discussion Area

PlatinumChaos

Do Ford Money generally pass on interest rate increases to existing customers, or do these tend to be for new customers only? Also, does anybody have any experience of their customer support? Helpful? Long waiting times?

Thumbs_Up

Tried an alternative current account, still no joy. Funny, reading comments on here Ford Money appears to be an easy account to open and operate.

Really wanted to open account just for the £1 and see where we go forwards.

    

refluxer

PlatinumChaos said:

Do Ford Money generally pass on interest rate increases to existing customers, or do these tend to be for new customers only? Also, does anybody have any experience of their customer support? Helpful? Long waiting times?

They only seem to have the one issue of the Flexible Saver as far as I can tell, so rates rises are presumably passed on to anyone with the account. They occasionally close it to new customers but, as I hold a Fixed Rate Saver with them, it's normally been available to me although I think it does also get withdrawn completely (temporarily) from time to time. I don't think they necessarily pass on every BoE interest rate rise to this account immediately, but it normally keeps up with the pack even if it isn't always at the top of the table. 

This is the first easy access account I've held with them, so I can't comment on day-to-day customer service as I've only ever held Fixed Rate accounts with them previously, but all of those accounts have been fine and maturity instructions carried out as instructed, so I've not had reason to contact them so far.

I've made a couple of payments into the Flexible Saver since it was opened on Monday. Both have been before the 4pm cut-off - one took 4 hours and the other 45 minutes to show. Payments out look to be the next business day if requested before 2pm, so just be aware that payments in and out aren't instant like some other banks.

CooperSF

Should start a sweepstake for when the 3% barrier is broken.

SJMALBA

Thumbs_Up said:

Tried an alternative current account, still no joy. Funny, reading comments on here Ford Money appears to be an easy account to open and operate.

Really wanted to open account just for the £1 and see where we go forwards.

   

I opened one for myself a few days ago, and despite my nominated account being with with the same bank as my mother, I didn't encounter any problems (opened quickly, easily etc.), but today for my mum, as detailed, no go...?!

Bridlington1

CooperSF said:

Should start a sweepstake for when the 3% barrier is broken.

I guess about bonfire night.

cheesemason

Thumbs_Up said:

Tried an alternative current account, still no joy. Funny, reading comments on here Ford Money appears to be an easy account to open and operate.

Really wanted to open account just for the £1 and see where we go forwards.

    

They’ve been tweeting this afternoon that they’ve been having some issue, but that they should be fixed now 

Tfl

Thinking of opening a Ford Savings account.

I find one of the biggest problems is that may providers limit how much money you can move to an external account per day. Makes chasing , new, higher rates a pain.  Anyone know what Ford's daily external transfer limit is?

alternate

Tfl said:

Thinking of opening a Ford Savings account.

I find one of the biggest problems is that may providers limit how much money you can move to an external account per day. Makes chasing , new, higher rates a pain.  Anyone know what Ford's daily external transfer limit is?

I am not sure if they have one.  I have moved 80k at once.  The fastest they do it is next day though (2 days if after 2pm) so I guess that adds to their security.

refluxer

Tfl said:

Thinking of opening a Ford Savings account.

I find one of the biggest problems is that may providers limit how much money you can move to an external account per day. Makes chasing , new, higher rates a pain.  Anyone know what Ford's daily external transfer limit is?

There are no daily limits mentioned in the T&Cs that I could see and their 'Moving Money' help section only talks about time deadlines for payments in and out, not amount limits. The fact that payments are only possible to and from a nominated account presumably gets round any potential security reasons for wanting to limit transfers.