Regular Savings Accounts: The Best Currently Available List!

Westie983

Hal17 wrote: »

Hi ya, what made you think you could open 2 RS accounts?

I was told on the phone, I could open as many as I wished this included the ISA version, I did ask her numerous times if she was sure, and she said you can open 10 RS as long as you only fund each account with £250, I asked if the call was being recorded and she said yes, so I have something to return too, if they decide not to honour the additional accounts.

That said they could 'lose' the call but I have a call log in my phone,

EDIT: All accounts are showing online, I dont see it saying in the T&C's you can only open one account, it does stay you can open one in your name and one in joint names, but doesnt say only one RS per person, like it does at Santander. Looking at the summary I saved on the first application it says this under opening and managing account



That said whats the worst that can happen? they say I can only have one and close down the extras and put the funds back into the flexible saver.

Westie983

Westie983

isasmurf wrote: »

Deposits update same day, providing it is received before 4pm on a working day. They'll do a few runs a day to allocate funds received in the holding account to your account.

This is what I was told when I rang to find out what combination I could use for the reference and surname as my name is too long for the amount of characters allowed.

Was told that any payments sent today will be credited today, and my payment from Saturday was delayed as it was send on a non working day and they are not a clearing bank.

Money has arrived into the flexible saver, the test amount and the payments to the regular saver.

Nicely done Ford Money, Thanks muchly.

Westie883

Westie983

ThriftyFelicity wrote: »

FYI... I was told this morning on the phone by a customer service rep at Ford Money that I could open "as many regular savers as you like", but that I was restricted to one regular saver ISA. A few minutes later, I received a call back from them saying that they were mistaken, I could open as many regular saver ISA's as I liked as well, provided I did not contribute more than £20,000 to them this tax year.

I was told this too, when I said the RS ISA will only take 3k of the 20k allowance and was told I could just open up to eight to cover the allowance minus anything that has been paid into a S&S ISA this text year.

I decided to stick with the standard ISA as I am a non tax payer so dont have a great need for ISA's nor will I ever get to 20k this tax year.

Westie983

Klopek

Just in case it wasn't clarified already with regards to monthly funding:

"The regular saver monthly funding period is based on when you make your initial deposit and not based on a calendar month. If you fund your account today you would not be able to make another deposit until after 22nd of June."

- Ford Money via Secure Message

ThriftyFelicity

EachPenny wrote: »

That in itself is interesting wording - "they had to put a limit of 1 a/c per person"after people began opening excessive numbers of accounts? If that is a correct interpretation it suggests it was ok to open more than one to start with... but now isn't.

I don't see anything in the T&C's saying posts on Facebook will be the agreed method used to amend the T&C's

I've just spoken to them on the phone, and they said that one regular saver and one regular saver ISA will be allowed each person. Any additional accounts, even if opened before they [STRIKE]saw the error of their ways[/STRIKE] changed their minds, will be closed :rotfl:

Westie983

badger09 wrote: »

Well

I know my eyesight isn't as good as it used to be, but where in the T&Cs does it mention 'anniversary month' in terms of funding the accounts?

I've downloaded the T&Cs from the website for both the RS & RS ISA this morning, and I can't see any mention of anniversary month in the relevant paragraphs:cool:

Taken from the larger of the two documents downloaded when you apply for the account, not the summary one.



Westie983

EachPenny

ThriftyFelicity wrote: »

I've just spoken to them on the phone, and they said that one regular saver and one regular saver ISA will be allowed each person. Any additional accounts, even if opened before they [STRIKE]saw the error of their ways[/STRIKE] changed their minds, will be closed :rotfl:

I'm sure there will be some interesting conversations going on between the lawyers and PR people at Ford Money HQ right now.

If they don't honour applications made before the announcement that only one was allowed per customer then their 'big day' could turn into a PR disaster.

I'm drafting my letter of complaint already

keyboardworrier

I think they may have underestimated how starved we are for a decent rate...

ctdctd

Klopek wrote: »

Just in case it wasn't clarified already with regards to monthly funding:

"The regular saver monthly funding period is based on when you make your initial deposit and not based on a calendar month. If you fund your account today you would not be able to make another deposit until after 22nd of June."

- Ford Money via Secure Message

Yep, I got the same reply - so that's one query cleared up!

Ashen

EachPenny wrote: »

If they don't honour applications made before the announcement that only one was allowed per customer then their 'big day' could turn into a PR disaster.

The announcement should make no practical difference. Someone who applied at 9am without seeing a Facebook post shouldn't be treated differently from someone who applied at 3pm without seeing a Facebook post. It'd be a bit different if it was posted on their actual site.