Ford Money Flexible Saver Recent Interest Rates

mebu60

Received an email notification that the interest rate on my Ford Money Flexible Saver will reduce from 4.18% to 4.04% wef 14:10:25. Although it shows as 4.18% online, my records show the last change as reducing from 4.35% to 4.27% wef 11:08:25 (the same date when the ISA did indeed reduce to 4.18%). 

Fired off a secure message, their reply stating the Flexible Saver reduced to 4.18% on 18:07:25, i.e. before I believe it reduced to 4.27%! 

There's no financial impact as I reduced balance to £1 on 23:06:25 but I am most confused. Can anyone shed some light on this based on their own records? Thanks.

Section62

mebu60 said:

Received an email notification that the interest rate on my Ford Money Flexible Saver will reduce from 4.18% to 4.04% wef 14:10:25. Although it shows as 4.18% online, my records show the last change as reducing from 4.35% to 4.27% wef 11:08:25 (the same date when the ISA did indeed reduce to 4.18%). 

Fired off a secure message, their reply stating the Flexible Saver reduced to 4.18% on 18:07:25, i.e. before I believe it reduced to 4.27%! 

There's no financial impact as I reduced balance to £1 on 23:06:25 but I am most confused. Can anyone shed some light on this based on their own records? Thanks.

I have emails dated 28/07 notifying the Flexible Savers would reduce from 4.35% to 4.18% effective 11/08.  These are gross, for accounts paying annual interest.

The rate change prior to that was effective 26/02 with a reduction from 4.5% to 4.35%

Is it possible the rate was reduced for new accounts on 18/07/2025, with the decrease for existing accounts happening later after notice had been given?

mebu60

My email bin only goes back to late August so unable to check deleted emails prior to that. Is an existing account been open for years. My recording of a reduction to 4.27% is handwritten so not even the excuse of fat-fingered typing. Must've been a senior moment! 

At 4.04% from 14:10:25 there's little prospect of the £1 being added to before 30:05:26 when accrued interest will be credited. 

Thanks @Section62

surreysaver

I've the Flexible Saver and Flexible ISA. Rates for both changed on the same day, from the same rate to the same rate.