Very quick question - For anyone with a Ford Money Instant Access account?

RG2015

vernall said:

hi guys....sorry to hijack......i opened a Ford Money Flex Saver yesterday, paid in £1 to test it and its showing today. On the app and online I can't for the life of me see an option to withdraw. The app is very basic with hardly anything on there. The web has the option in the account options of view transactions, statement,interest summary, details,personalise and add savings goal....but no withdraw option

In online banking click on Account Options and then Move Money.

In the app click on the right arrow then on the three lines in the top right hand corner then on move money.

If the move money option is not there it may be that your linked account has not as yet been verified.

vernall

RG2015 said:

vernall said:

hi guys....sorry to hijack......i opened a Ford Money Flex Saver yesterday, paid in £1 to test it and its showing today. On the app and online I can't for the life of me see an option to withdraw. The app is very basic with hardly anything on there. The web has the option in the account options of view transactions, statement,interest summary, details,personalise and add savings goal....but no withdraw option

In online banking click on Account Options and then Move Money.

In the app click on the right arrow then on the three lines in the top right hand corner then on move money.

If the move money option is not there it may be that your linked account has not as yet been verified.

ahhh makes sense, thank you

MiserlyMartin

Albermarle said:

I don't think Ford increase their rates that frequently, meaning their (non-Sharia) rate could be overtaken in the next week or two.

I think they have gone up twice in a matter of weeks ? 1.5% to 1.75% to 1.95% 

Worth noting I think that if you do not really need very  regular quick access and can wait one business day, then in other respects Ford Money seem to be one of the more efficient/easy to deal with savings institutions. I do not remember ever seeing threads on here complaining about lack of response/no replies etc unlike a few others that crop up regularly.

Ford money have languished way below the top rates for about 6 months now. I can only guess that so many people had withdrawn their savings, that they suddenly woke up and raised to be top of the table. Only just top of the table mind you. They really should be offering 2.3% + Still, for the moment it is now beating ZOPA, so I will start moving money.

snowqueen555

MiserlyMartin said:

Albermarle said:

I don't think Ford increase their rates that frequently, meaning their (non-Sharia) rate could be overtaken in the next week or two.

I think they have gone up twice in a matter of weeks ? 1.5% to 1.75% to 1.95% 

Worth noting I think that if you do not really need very  regular quick access and can wait one business day, then in other respects Ford Money seem to be one of the more efficient/easy to deal with savings institutions. I do not remember ever seeing threads on here complaining about lack of response/no replies etc unlike a few others that crop up regularly.

Ford money have languished way below the top rates for about 6 months now. I can only guess that so many people had withdrawn their savings, that they suddenly woke up and raised to be top of the table. Only just top of the table mind you. They really should be offering 2.3% + Still, for the moment it is now beating ZOPA, so I will start moving money.

Very rare for one provider to be top all the time. Ford had the best 1 year fixed rate bond back in 2019-20.

Albermarle

snowqueen555 said:

MiserlyMartin said:

Albermarle said:

I don't think Ford increase their rates that frequently, meaning their (non-Sharia) rate could be overtaken in the next week or two.

I think they have gone up twice in a matter of weeks ? 1.5% to 1.75% to 1.95% 

Worth noting I think that if you do not really need very  regular quick access and can wait one business day, then in other respects Ford Money seem to be one of the more efficient/easy to deal with savings institutions. I do not remember ever seeing threads on here complaining about lack of response/no replies etc unlike a few others that crop up regularly.

Ford money have languished way below the top rates for about 6 months now. I can only guess that so many people had withdrawn their savings, that they suddenly woke up and raised to be top of the table. Only just top of the table mind you. They really should be offering 2.3% + Still, for the moment it is now beating ZOPA, so I will start moving money.

Very rare for one provider to be top all the time. Ford had the best 1 year fixed rate bond back in 2019-20.

Plus as mentioned many times on different threads, it depends on how much money these banks need for their business. No point in them offering Top of the market rates to attract new savers, if they do not need the money at that particular moment in time. 

DavidT67

Personally I wouldn't deposit my money with any bank who isn't a direct participant in FPS, BACS and CHAPS.

Can't be bothered dealing with the CoP hassle and inherent delays involved in second and third tier banks.

Daliah

DavidT67 said:

Personally I wouldn't deposit my money with any bank who isn't a direct participant in FPS, BACS and CHAPS.

Can't be bothered dealing with the CoP hassle and inherent delays involved in second and third tier banks.

Don't cut your nose off to spite your face.

Though it is, of course, your right to do so if you so wish.

DavidT67

Atom, Virgin and Santander all tick the boxes and are on the podium, so is that ~0.05% per annum really going to sway me, Nope!

Daliah

DavidT67 said:

Atom, Virgin and Santander all tick the boxes and are on the podium, so is that ~0.05% per annum really going to sway me, Nope!

You are depriving yourself of some 95%+ of the savings market. Not very MSE.

But as I said, it's your right to do so.

snowqueen555

DavidT67 said:

Personally I wouldn't deposit my money with any bank who isn't a direct participant in FPS, BACS and CHAPS.

Can't be bothered dealing with the CoP hassle and inherent delays involved in second and third tier banks.

It's a clunky website but my account was up and running the next day, cannot complain at all, and as a savings account it was only a soft search.

Just need to move my money from Chase now.