Regular Savings Accounts: The Best Currently Available List!

Stompa

Yorkshire_Pud wrote: »

I opened and funded my RSaver on 22nd, and Maturity date is 22nd. I guess that if a deposit is made later Ford move the Maturity date?

I'm now not so sure about that. I opened an account on 22nd, and the maturity date was shown as 22/05/2018. This morning (23rd) it was the same, and now after successfully making my initial deposit it is still the same.

Rich2808

pafpcg wrote: »

With the ignorance displayed above, then it should come as no surprise that Ford have had problems. Aren't they aware of the difference between Cash ISAs and Stocks&Shares ISAs?

They are a split isa and a flexible isa provider and the terms and conditions regular saver isa can be funded using transfers in.

When you apply on line to open the regular saver ISA they ask if you have already opened a cash isa in 2017-18. If you say no you can proceed to apply - but if you say yes they say you cannot apply online and must call them.

But if transfers can be used to fund the regular savings isa - why not have an option to say do you want to transfer in prior year funds (e.g. from another Ford isa or externally)?

I think their online application process needs refining a little - to allow for transfers in (as is the case for their flexible cash isa)! You could transfer prior year funds into the flexible cash isa - and drip feed them monthly surely into the regular saver?

Alternatively wouldn't life be easier if the Government just said you can have as many isas as you like each year with who ever - as long as your total new investment in all of them is £20k or less. Would make life much easier all round - and be easier for people to understand.

Given we now have a plethora of isa products - it would make life easier!

Westie983

Rich2808 wrote: »

Ford are a split isa provider according to their website – like Nationwide.

https://www.fordmoney.co.uk/help/about-our-products/what-is-an-isa

So in theory you could open 6 or 7 regular saver isas and fund them at £250 a month and not exceed the £20k isa limit. As long as all your isas are with Ford and you don’t invest more than £20k in terms of new money there shouldn’t be an issue – as long as Ford allow multiple isa accounts.

They also allow you to use transfers in to fund the regular saver isa – so you can also use prior year isa funds as well to fund the isa.

I was told this when I spoke to them, as the maximum you can fund in a Regular ISA is 3k and was told I could have 8 if I wanted each totally 3k each by the end of the year, as long as I haven't funded a ISA this tax year and was reminded not to forget any payments made into S&S isas this year.

I haven't gone down this route as 1. I dont have an endless supply of money to use and 2. Im a non tax payer so the ISA appeal is not so great.

My accounts are all funded now, all dated 22nd but posted today one account.

I must say the payment from the flexible saver hit the account quicker then the payment from the nominated bank Account so I will send the money there each month and transfer on the 22nd each month.

To those who were asking about the customer ID, check spam folders, and those who opened multiple accounts your welcome letter will be in your ford money inbox and not your emails. (*I only got one, for the flexible saver, which was the first account opened, to set up online banking)

Over and out

Westie983

Zanderman

arsenalboy wrote: »

Apologies, I have lost the plot!

I have applied and successfully opened a regular saver and an ISA regular saver.

I understand that they have withdrawn the regular saver due to demand.

However, the ISA regular saver is still open and it allows me to log in and apply for another ISA regular saver. I take the process to the end and then abort as I want to keep within the rules.

What are the rules on the 4% ISA regular saver, can I open more than one. My only 17/18 ISA would be with Ford Money.

The ISA is more valuable to me as I am higher rate tax payer.

Why not ask FordMoney? They messed up with their answers on these types of questions yesterday, but today (one would hope) they must be able to give a definitive answer. And if you aren't allowed to open more, but their IT system lets you, you may be wasting your time. Don't rely on answers on this thread - no-one here can be definitive. But FordMoney should (haha) be able to answer the question precisely by now.

molerat

Funded MrsM's and my ISAs around 1100 this morning and showing in account at 1500. Maturity date stayed as 23rd.

Gers

gingercordial wrote: »

You don't have to black out Ford's 8-digit account number - that is the same account number we are all using. It is their central holding bank account.

The reference should be your unique 7-digit account number that you can see on online banking plus your surname. They use this to allocate your payment out of their central account to your RS.

My email says:

Please ensure your payment comes from your Nominated Account and includes the following information:
• Beneficiary: Ford Money
• Our Sort Code: 20-32-53
• Our Account Number: 63604551
• Reference: your Ford Money application reference number and your surname(s)

I've just transferred £250.00 to the RS. The £2.00 I sent for the FS is showing.

No message saying 'thank you for opening another account'.

isasmurf

Rich2808 wrote: »

You could transfer prior year funds into the flexible cash isa - and drip feed them monthly surely into the regular saver?

You can. It's what I'm doing.

And the transfer process took one working day to complete.

apt

Ford Money sent out an e-mail asking for the reference number plus surname to be quoted, then sent out another asking for the account number and surname. In my experience the money gets to the right place either way.

YorkshireBoy

apt wrote: »

Ford Money sent out an e-mail asking for the reference number plus surname to be quoted, then sent out another asking for the account number and surname. In my experience the money gets to the right place either way.

It also gets there quoting either number without your surname in my experience.

I put it to Ford Money yesterday that by asking for surname they must have staff manually assigning the cash to the right account...and the CSA confirmed that's what they're doing. Surely not!?

Having said that, the CSA dealing with my query also stated that because I was going to put some cash in to my Reg Saver ISA with them I couldn't put the remainder of my £20K allowance into a S&S ISA with another provider.

Why can't they train these people properly?

Rich2808

isasmurf wrote: »

You can. It's what I'm doing.

And the transfer process took one working day to complete.

I presume like me you are taking the view that as long as you follow the HMRC ISA rules - as Ford say transfers in are allowed and they are a split ISA and flexible ISA provider as stated on their website - you are fine!