Ford Money

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123457

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  • phred
    phred Posts: 91 Forumite
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    I received the ISA interest today, 24 hours late in my opinion.
    Anyway, all well that ends well.
  • Mee
    Mee Posts: 1,441 Forumite
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    I thought the online maturity form was quite comprehensive in asking customers whether they wanted to invest in a new FM account and how much; how much to an existing FM or linked account, and what they wanted to do with the interest.

    I opted to reinvest some funds + interest in another FM ISA and fixed rate saver, the remaining funds in my FM flexible saver until I've decided what to do with it. Logged in on maturity date and it was all in order.
    Free thinker.:cool:
  • Vortigern
    Vortigern Posts: 3,245 Forumite
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    ChopperST wrote: »
    What time did that happen please - don't want to chase unnecessarily?
    I don't know. I logged on only once and the interest was there.
  • Vortigern
    Vortigern Posts: 3,245 Forumite
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    Archie_Duke wrote: »
    As the RS ISA has only 7 digits in the account number instead of the normal 8, I can!!!8217;t tell my present ISA provider the right number to transfer my maturity funds which I chose to let them roll over into the Flexible ISA. Anyone resolved this yet?
    I transferred to iWeb, which does not check the format of the losing account number.

    The usual procedure for a short number is to insert leading zeroes.

    If posting a paper form, just include a covering note.
  • badger09
    badger09 Posts: 11,247 Forumite
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    Archie_Duke wrote: »
    As the RS ISA has only 7 digits in the account number instead of the normal 8, I can!!!8217;t tell my present ISA provider the right number to transfer my maturity funds which I chose to let them roll over into the Flexible ISA. Anyone resolved this yet?

    I transferred mine into an existing Nationwide ISA. As Ford Money wasn't on the list of providers from which Nationwide can request online transfer, I had to complete a form.

    There was no issue with the transfer.
  • Archie_Duke
    Archie_Duke Posts: 285 Forumite
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    I just needed to treat it as a Roll Number. I spoke to the Ford Money and found them really helpful. 10 minutes later I had my Transfer Out instruction in with The Coventry. Maturing ISA Funds going in to my existing Easy Access ISA.
    Arch
  • Archie_Duke
    Archie_Duke Posts: 285 Forumite
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    I just needed to treat it as a Roll Number. I spoke to Ford Money and found them really helpful. 10 minutes later I had my Transfer Out instruction in with The Coventry. Maturing ISA Funds going in to my existing Easy Access ISA.
    I received an acknowledgement text message from Ford Money this morning stating acceptance of The Coventry's ISA transfer request. The whole deposit + interest will be shifting across. The process was made more difficult than it needed to be because the 12 deposits required in the T&C straddled 2 financial years. I've been really happy with dealing with Ford Money mostly online, but the phoneline is there too if you need to speak to a human sometimes.
    Arch
  • Deneb
    Deneb Posts: 420 Forumite
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    Archie_Duke wrote: »
    The process was made more difficult than it needed to be because the 12 deposits required in the T&C straddled 2 financial years.

    The way around that was to open a Ford Flexible ISA together with the RS ISA, fund the Flexible ISA in the 2017-18 tax year with sufficient funds to cover the RS ISA deposits, and move the money into the RS ISA monthly as required.

    That way, you would only have subscribed to the ISA in a single tax year. Even though you made a final deposit into the RS ISA in the following year, it was already subscribed in the previous year. This only works because Ford ISAs are flexible, allowing you to spread contributions across more than one of their cash ISAs.

    The RS ISA would then have been a 2017-18 ISA when transferred, rather than straddling two years.
  • msallen
    msallen Posts: 1,494 Forumite
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    Deneb wrote: »
    The way around that was to open a Ford Flexible ISA together with the RS ISA, fund the Flexible ISA in the 2017-18 tax year with sufficient funds to cover the RS ISA deposits, and move the money into the RS ISA monthly as required.

    That way, you would only have subscribed to the ISA in a single tax year. Even though you made a final deposit into the RS ISA in the following year, it was already subscribed in the previous year. This only works because Ford ISAs are flexible, allowing you to spread contributions across more than one of their cash ISAs.

    The RS ISA would then have been a 2017-18 ISA when transferred, rather than straddling two years.

    Hmm, didn't think of that. I simply made 11 monthly payments and didn't bother with the last in this FY. For the sake of a month's interest on £250 I'm happy enough though.
  • castle96
    castle96 Posts: 2,889 Forumite
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    nor did I ! duh
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