Regular Savings Accounts: The Best Currently Available List!

Rich2808

steve65e wrote: »

Or you could open 80 of them and put 250 in each straight away?!

Sounds like a good idea. Imagine the 80 welcome letters though and remembering all the account numbers!

They should rethink it though - maybe they should check out the Nottingham BS equivalent for ideas. Far cheaper and less bureaucratic for them to have one account with £1750 going in monthly then eight accounts with £250 going in!

[Deleted User]

steve65e wrote: »

Or you could open 80 of them and put 250 in each straight away?!

So in theory you could have £20,000 in a ISA at 4% for a whole year?

I wonder whether that would work in practice?

I've already used mine up at 1.8%. !!!!!!!

isasmurf

I see in the MSE email box they're promoting the Ford RS. There's going to be a lot of disappointed people tomorrow when they receive the email, only to find its been pulled.

Hal17

Deleted_User wrote: »

So in theory you could have £20,000 in a ISA at 4% for a whole year?

I wonder whether that would work in practice?

I've already used mine up at 1.8%. !!!!!!!

I phoned them yesterday to check this as I was originally told by their customer service guy that you could open as many of the regular ISA accounts at 4% to use your full annual £20K allowance.

However, when I called again to verify as this did not sound right, I was informed that within their ISA wrapper you can only have one regular saver ISA at 4% and the balance of any other funds you want to deposit into the cash ISA will need to be invested in any of the other 3 ISA offerings they have available. Not what I was originally told.

EachPenny

Hal17 wrote: »

I phoned them yesterday to check this as I was originally told by their customer service guy that you could open as many of the regular ISA accounts at 4% to use your full annual £20K allowance.

However, when I called again to verify as this did not sound right.... Not what I was originally told.

Maybe call again and see if it is third time lucky?

Remember the saying about gift horses

JezR

The Regular Saver Isa product doesn't seem to have been thought through very well, not just for not allowing the maximum amount to be paid in for a tax year, but for it not being aligned with this either.

adindas

I wonder has anyone successfully applied seven of Ford Regular saver ISA in one go ?
How did you do that ? Did you do over the phone or online ??

karlie88

Zanderman wrote: »

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.

You really don't want to be asking Ford Money - they're a little clueless:

https://twitter.com/fordmoney/status/866937830525849601

Ed-1

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?

Rich2808 wrote: »

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.

IIRC it only says 'ISA' rather than 'cash ISA' on the application form. So it needs refining.

EachPenny

adindas wrote: »

I managed to apply seven of Ford Money RS ISA in seven consecutive events.
All of them have different Reference Number.

I have not got instruction how to fund them.

Are they for new money, or transfers?

If new money then the easiest/quickest way appears to be opening a Flexible Saver account as well. You can then just make one external payment of funds into the Flexible Saver and then do internal transfers to move the money into the correct account. When I was doing it earlier in working hours the internal transfers were done more or less instantly.

As far as I'm concerned that approach is easier than having to set up 7x standing orders, but not everybody will agree