Regular Savings Accounts: The Best Currently Available List!

B_G_B

glider3560 wrote: »

Stupid question: why is everyone opening flexible accounts at Ford Money? Are they prerequistites for the regular saver? Can you open a regualr saver without one?

(I can't see the actual account terms anyway on their website, so can't check this out for myself)

Just to get the online banking up and running. If i’d known it was going to be such a simple / quick process, I would have left it till Monday.

YorkshireBoy

glider3560 wrote: »

(I can't see the actual account terms anyway on their website, so can't check this out for myself)

Playing around with the product names in the urls for T&Cs for their existing accounts I've come across these...

https://www.fordmoney.co.uk/content/dam/fmny/uk/documents/Regular-Saver-Product-Terms.pdf

https://www.fordmoney.co.uk/content/dam/fmny/uk/documents/Regular-Saver-Cash-ISA-Product-Terms.pdf

They both carry effective dates of 1st June 2016 though, which is strange?


EDIT: Looks like they are the ones. Here's the summary details for each...

https://www.fordmoney.co.uk/content/dam/fmny/uk/documents/Regular-Saver-Product-Summary.pdf

https://www.fordmoney.co.uk/content/dam/fmny/uk/documents/Regular-Saver-Cash-ISA-Product-Summary.pdf

Chrisv

B_G_B wrote: »

Just to get the online banking up and running. If i’d known it was going to be such a simple / quick process, I would have left it till Monday.

Can you log in at the minute B_G_B?

Got my customer number through about an hour ago, but can't login.

TIA

B_G_B

Chrisv wrote: »

Can you log in at the minute B_G_B?

Got my customer number through about an hour ago, but can't login.

TIA

Yep. Applied on 17th. Only took a few minutes and all was up and running. Transferred a token amount in which showed up Thurs mid morning.

Westie983

EachPenny wrote: »

Thanks isasmurf and Zanderman. I'll just have to be a bit more patient. I was hoping to get £250 transferred and ready to pop straight in to the RS on Monday.



It was the same with my emails, but I didn't try paying in until after the second one so knew of the apparent need for surname. We'll just have to wait until Monday to know for sure - unless the computer system crashes in the stampede for new accounts

I was getting odd things appearing on the screen even with Firefox, but a reload on non-critical pages seemed to sort it out.

I hope its isnt too important as my reference and my surname is too long for the 13 characters my bank will allow, so I have missed of the last letter of my surname.

Westie983

EachPenny

glider3560 wrote: »

Stupid question: why is everyone opening flexible accounts at Ford Money? Are they prerequistites for the regular saver? Can you open a regualr saver without one?

Always best to be near the front of the queue Sometimes being an existing account holder speeds the application process up - you've got all the boring admin (ID checks, online banking setup etc) done and out of the way already so there is less risk of a hold up if demand is high. Not that getting an account opened and set up a day early is going to make that much difference financially, but be aware of what happened with the Tesco current accounts - if demand causes technical issues and a pause in accepting applications then once the account is available to new applicants again it might not be the same account

Besides, an instant access account paying 1% is amongst the best in the market, and my money is hopefully earning more there tonight than it would be where it came from.

Westie983 wrote: »

I hope its isnt too important as my reference and my surname is too long for the 13 characters my bank will allow, so I have missed of the last letter of my surname.

That was one of my concerns, although my surname isn't that long. It just seems to pose an additional risk of monies being returned due to 'errors' detected by the automated systems. Lets hope not

Nationwide8

EachPenny wrote: »

It was the same with my emails, but I didn't try paying in until after the second one so knew of the apparent need for surname. We'll just have to wait until Monday to know for sure - unless the computer system crashes in the stampede for new accounts

I sent £1 with just ref no,then realized should put surname as well so sent another £1 with ref no and surname ( with a space between ?? ) .Neither have appeared yet in the saver,but maybe Monday.
Assume you just send to account no and sort code after this first deposit ?

Might check early hours Monday morning if am still awake and see if can open a Reg Saver,website might be a bit busy 9ish Monday morning :cool:

EachPenny

YorkshireBoy wrote: »

They both carry effective dates of 1st June 2016 though, which is strange?

It is a strange one - maybe they originally planned on launching the account then and moved it forward?

Looking at the non-ISA version it will be an issue based account... does that mean we can look forward to a Virgin style holding one of each issue - I cannot see anything saying it won't be allowed.

I can only see a reference to paying money in by SO... nothing about faster payments or transfers from other Ford Money accounts - hopefully just an oversight.

Minimum monthly pay-in of £25, but no penalty if you pay nothing in... that's another strange one.

Ed-1

EachPenny wrote: »

It is a strange one - maybe they originally planned on launching the account then and moved it forward?

Looking at the non-ISA version it will be an issue based account... does that mean we can look forward to a Virgin style holding one of each issue - I cannot see anything saying it won't be allowed.

I can only see a reference to paying money in by SO... nothing about faster payments or transfers from other Ford Money accounts - hopefully just an oversight.

Minimum monthly pay-in of £25, but no penalty if you pay nothing in... that's another strange one.

I can't see anything about it being 1 per issue as well.

Also it says max balance is £3,000 so is it an account month rather than calendar month for contributions? So no moving the standing order to 1st of each month.

B_G_B

Westie983 wrote: »

I hope its isnt too important as my reference and my surname is too long for the 13 characters my bank will allow, so I have missed of the last letter of my surname

EachPenny wrote: »

That was one of my concerns, although my surname isn't that long. It just seems to pose an additional risk of monies being returned due to 'errors' detected by the automated systems. Lets hope not

Nationwide8 wrote: »

I sent £1 with just ref no,then realized should put surname as well so sent another £1 with ref no and surname ( with a space between ?? ) .Neither have appeared yet in the saver,but maybe Monday.
Assume you just send to account no and sort code after this first deposit ?

My initial deposit was made to the Ford Money account (Barclays) using my application number as the reference. This is what the online screen said at end of account application. Payment credited the following morning.

Received some bumph through the post today which said any further payments should use account number + surname as reference. Didn’t really want to set up another new payee from current account. Just trying to keep things tidy. Phoned helpline and adviser said use account number + first three letters of surname. I have sent a new payment with these details which I would expect to be credited on Monday.