Ford Money

retiree

Has anybody managed to find out if it is possible to open a fixed ISA with Ford Money by transferring previous years subscriptions only? Their online application implies that you must transfer in current year's funds to open an account. I cannot get through by phone to ask.

Shedman

I had the same concern but carried on regardless.  I ticked the Yes box to the question "Have you opened an ISA this year with another provider" (as I have) and then carried on through and, on the ISA transfer page, put in an ISA with a provider from a prior year subscription.  Account has been opened but,of course, it's too soon to know if that has caused a problem as the transfer hasn't occured yet as only opened it 2 days ago  (although hopefully it'll be as quick as my ISA transfer from Lloyds to Paragon which only took 3 days and totally surprised me).  They do say in T&Cs they follow the ISA guidlines which obviously do allow a prior year transfer only.  I think (hope) they are only referring to transferring current year ISA so that it makes people aware that they must transfer the whole of the current year ISA rather than a partial transfer.

What I'm trying to find out (unsuccessfully so far) is how I transfer the existing Ford Money Easy Access Cash ISA to the Fixed ISA as oddly it didn't come up as one the providers when you complete the ISA Transfer section of the application and there is nothing in their online Help that refers to it.  I'm reluctant to use the Move Money option in Easy Access ISA account in case that then makes me lose the ISA status on it.      

Albermarle

Their online application implies that you must transfer in current year's funds to open an account.

There are other threads on the same subject but regarding different providers.

It seems most give the impression that you need to add a minimum new money subscription but in reality a transfer on its own is sufficient for most ( but maybe not all). From the couple of providers I checked it was not very clear from the info provided.

Albermarle

Same issue
https://forums.moneysavingexpert.com/discussion/6136837/cash-isa-deposit-via-transfer-in#latest

Shedman

Update:  I've just looked and the transfer of the Virgin Cash ISA (which was prior year subscriptions only) to Ford Money Fixed ISA has gone through and is now showing in the account.  So it seems as I thought that it's OK to just transfer non-current year ISAs despite the wording on the application screen. 

Have to say that was impresively quick....opened Fixed ISA on 29th April, transfer completed 1 May .  

2010

From opening a Ford fixed cash ISA, how long have you got to add funds to it?

badger09

2010 said:

From opening a Ford fixed cash ISA, how long have you got to add funds to it?

Have you read the front page?
https://www.fordmoney.co.uk/savings-products/fixed-cash-isa

2010

badger09 said:

2010 said:

From opening a Ford fixed cash ISA, how long have you got to add funds to it?

Have you read the front page?
https://www.fordmoney.co.uk/savings-products/fixed-cash-isa

Thanks for that,
I have probably worded my question wrongly.
When you open a 1yr fix with Ford money, but only want to transfer your existing ISA from another provider how long are you allowed?

Shedman

2010 said:

badger09 said:

2010 said:

From opening a Ford fixed cash ISA, how long have you got to add funds to it?

Have you read the front page?
https://www.fordmoney.co.uk/savings-products/fixed-cash-isa

Thanks for that,
I have probably worded my question wrongly.
When you open a 1yr fix with Ford money, but only want to transfer your existing ISA from another provider how long are you allowed?

The Product Summary says "You can make an unlimited number of deposits and transfers-in, within 14 days of the date we receive your application.". Given that an ISA transfer is allowed to take 15 working days then this has surely to be interpreted as meaning that so long as you have instructed Ford Money to request an ISA transfer from the other provider within the 14 day window it will be allowed otherwise it is potentially impossible to transfer in.  More precision in some of their wording would be helpful to avoid such uncertainty and confusion.

frankiesowner

I opened a ford money 1 yr fixed last saturday and my experience to date has been very frustrating. I cannot find out how to tranfer in a previous years cash ISA on their website. They wont answer messages and the phone line - despite saying you are in a short queue - can run on for 15 - 20 minutes without an answer.  On their webite has anyone found the guide to transferring in a previous ISA since I suspect I will miss the 14 day deadline to get anything done!

colsten

frankiesowner said:

I opened a ford money 1 yr fixed last saturday and my experience to date has been very frustrating. I cannot find out how to tranfer in a previous years cash ISA on their website. They wont answer messages and the phone line - despite saying you are in a short queue - can run on for 15 - 20 minutes without an answer.  On their webite has anyone found the guide to transferring in a previous ISA since I suspect I will miss the 14 day deadline to get anything done!

You could have requested the transfer as part of your ISA application but it seems you overlooked that. You might now be able to request the transfer online, but if that's not possible, you can fill in their ISA transfer form and post it to them.