Ford Money not very instant access

Wit

I understand that withdrawals from a Ford Money Instant Access account can take up to 48 hours.  This should be highlighted in your comparison table.

Daliah

The MSE lists easy access accounts. Doesn’t mean they are all instant access. Many only pay on the next business day if you withdraw after 2pm etc. Check the T&Cs

fourmarks

Order before 2pm and you'll get it the next day. Not counting weekends and bank holidays. I think they process through Barclays so it takes longer. As above, always check the details.

eskbanker

Wit said:

I understand that withdrawals from a Ford Money Instant Access account can take up to 48 hours.  This should be highlighted in your comparison table.

There is no "Ford Money Instant Access account", or at least nothing marketed as such by Ford Money....

Millyonare

Yes, I stopped using FM. Way too slow.

Rollinghome

Off-hand, I can't think of any account that describes itself as "Instant Access" now.  It tended to be a term used for branch accounts where you could get £250 or so in cash over the counter.

Ford Money describes its account as a "Flexible Saver" and MSE placed it in their "Easy Access" section.

The approach that many will take is to place a small chunk of money with one of the big banks or few building societies that can offer near instant access and Faster Payments, and accept that they may pay a lower interest rate, with the rest in a better paying account where withdrawal might only be available the next day excluding weekends.  Even then, the more stringent security standards the banking authorities now demand can add hours, or sometimes days, to the fastest withdrawal times.

Or consider banks like Cynergy and Al Rayan and those building societies who tend to pay good rates and offer mostly quick, same day withdrawals. Should be no surprise that getting top rates can come with some compromises in service.

Millyonare

Yes, high rate + high speed is the utopia, but it is quite rare.

Most UK banks are slow, with rubbish rates.

Cynergy and Virgin Money tend to sustain among the higher-faster performers.

Albermarle

The approach that many will take is to place a small chunk of money with one of the big banks or few building societies that can offer near instant access and Faster Payments, and accept that they may pay a lower interest rate, with the rest in a better paying account where withdrawal might only be available the next day excluding weekends

With my Nationwide current account and their easy access savings account, you can transfer online/in the app in a matter of seconds. Even the rate is not that bad ( 2% from Nov 1st). for relatively small sums for instant access.