Ford Money Reviews 

I started an application for a Ford Money ISA account last month, paid the deposit, and mailed some ID verification documents. Ford Money contacted me asking for more documents, so I sent them. A couple of weeks later, I hadn't heard back from them so I had to email them, and they confirmed my application had been rejected. They said they'd send me a letter, but it's been another two weeks (more than one month since I started the whole process) and I haven't received any letter or payment back. Considering my experience, I can't recommend applying for a Ford Money account. Giving two stars because they replied to emails reasonably quickly.

So pleased I started saving with Ford Money. Last week they emailed advising the interest rate on my Flexible Saver was increasing and today have had another email advising it's going up again. The rate has also gone up on my Flexible ISA with them. Was getting 2.76 when I opened it in March. This then went up to 2.96 and has now gone up today to 3.15. Ford, so far you have been brilliant. Thank you.

Great service. I had not heard of Ford Money until I searched for a temporary high interest savings account to hold the proceeds of our property sale. I carried out a number of due diligence checks and they checked out perfectly. They pay interest monthly which few banks do. Communication is superb. Each transaction is followed by a confirmation text. Very good website, easy to deposit and withdraw. My final withdrawal was completed in less than 24 hours. Great service, I would highly recommend.

Not the best rates but not the worst. Easy to chat with and very helpful.

We have had a joint instant access with fordmoney for a number of years, with no complaints. Yes, it can take a while to get money out, as it has to go through a clearing bank, but we were always aware of this. I ordered a withdrawal on 30/03/23 and it was in my account within 24 hours. If I have phoned with a query, I have never been placed in a queue, and have always been answered by pleasant and knowledgeable staff. Some people are very quick to write negative reviews, but slow with the praise when it is deserved.

Opened my savings account 5 months ago, very easy to set up, sending money to fund the account was very easy to do, I can't understand the negative comments re Ford bank, my experience has been excellent & % rates they offer are excellent, especially compared to high street banks

Don't understand the poor reviews. Having used Moneybox, Ford is far better. Easy app, good access to funds.

Opened instant access acc several months ago. Very easy to do. Needed money to fund purchase. Did withdrawal request on line at 9.55am this morning money in account now 3.30 pm.
Good interest rate,Great service !!!

Chris

Transferred money to our dedicated account from savings at 9 am on the 8:3/23 still not arrived. Called customer services they advised global payment issue. Not true this is a problem with their payment provider. They promised funds would be visible by close of business. Still nothing. No warnings on ford moneys website. Still allows you to make transfers. Customer advisors don’t care and telling you to just wait and out of their hands. We have loft conversion in process now being stopped as we cannot pay. Two young children no roof in this freezing cold weather. Customer advisors apparently only a as ware of problem at 6pm last night but yet still not advising customers of any issues on website. So frightened as believe they are going under and have taken our savings and my house has no roof. BEWARE THEY HAVE POSTED NO ISSUE ON THEIR WEBSITE. We made another small payment of a £1 and it went from our account. FCA aware and they have advised me to check for compensation via The Financial Services Compensation Scheme. Just awful. Savings to repair my house and this company won’t give it back

Beware of your maturity date! I was a little side tracked for a while last year following the death of my mother at a young age and having to cope with her estate, probate etc, etc. Forgot that my account was due to mature and missed the deadline. SO they put the money into an account you cant touch for TWO YEARS. So thought I'd phone them and was reassured in the beginning that my circumstance seemed it would qualify for their 'extenuating circumstances' and I could get my money to start to move on with my life. A few emails and phone calls later and they've decided to keep a large sum of my hard earned cash for another year, on a god awful interest rate. How can you improve? Find some compassion and make your letters less condescending. Tell your staff not to imply your extenuating circumstances are in any way what they suggest. Disgusted, amazed and I would urge you to steer clear.

Easy to open accounts, move money in and out, and transfer between accounts. Good uncluttered app. Good interest rates. I'm a very happy customer.

Brilliant rates and good service so far, negative views are unjustified

I transferred £3,025 into my ford money cash isa on the friday morning 27/01/2023. On the monday 30/01/2023, I requested that Coventry building society transfer £3,029 from for money cash isa to coventry cash isa. Ford Money decided to reject my £3,025 transfer from my linked bank account and then just transferred 7 pounds to coventry and closed my cash isa account - leaving me with 70,000 pounds that i could transfer back in tax free - I have currently lost this tax free money because of Ford money's incompetence

Still nothing - I have £70,000 pounds tax free cash to put back, but no apology - rubbish and very stressful

I like many had initially been enticed by their attractive rates a few years ago, however over the years have significantly reduced their rates.

Ford advise that it is an instant access savings account but you need to give a days notice to have funds hit your nominated account . This is because Ford need to rely on Barclays as their clearing bank and have to instruct their back office to action -so you will never be able to transfer as a "Faster payment"

As they are using Barclays as their clearing bank, you will also not receive a separate bank account but you will instead have a sub account number to Ford's account held with Barclays (as FCE Bank).

Moreover when closing the account this becomes even more problematic as many other ISA providers won't accept transfers from Ford Money and particularly when your money is held in a sub account of the FCE Bank's account with Barclays so when paying in money you have to put your sub account number as a reference .

In my instance when closing the account, I was advised by my new ISA provider that Ford Money would only close and transfer funds via issuing a cheque and I had to wait for this to clear. Ford did deny this and argued that I had specifically requested transfer by cheque which was not the case! They then argued that my new ISA provider had specifically requested transfer by cheque instead.

To add further insult Ford Money closed the account before the cheque had been drawn and cleared so temporarily it looked like my savings had gone whilst I was waiting for the other provider to receive the cheque. In normal circumstances - funds should only leave the account once the cheque has been drawn - not when the cheque has been issued so this is not right either. They could not advise how the cheque had been sent - whether by Royal Mail or by registered post and -it is beyond me why the transfer would need to take place by cheque in this day and age and why this could not be done via BACs!. After asking to escalate to a manager and then raising a formal complaint to be then taken to the Financial Ombudsman, miraculously only then did my ISA funds then show up in my transferred account - previously I had been advised I would be at the mercy of the Royal Mail...

Do not use them if you need quick access to cash and want to transfer this to another provider easily

Finally very poor customer service and user interface to their app and website. It will take you at least 15 minutes+ if not longer on hold before being able to speak to someone. Just awful

I have had no issues opening accounts and transferring money into them.You get reassurance text to let you know your money transfer has been processed. You can view your account details timely . I have not had need to contact them directly as yet Found the site and information easy to navigate .Easy to open an account with them. The guidance given about saving accounts are easy reading and clear. They keep me posted of any messages. Competitive interest rates . Very happy customer .

I cannot understand the negative comments about Ford Money. I recently opened a one year fixed bond and within a couple of days had received my paperwork through the post. Instructions for making a deposit were crystal clear and when each deposit was credited to my bond, I received a reassuring text within an couple of hours. The interest rates are extremely competitive. I'm very pleased with my experience of Ford Money.

Cannot understand some negative reviews! Yes all terms are stated. If you can’t be bothered to read them before you open an account then you are to blame! Don’t complain! Terms state that withdrawals if made before 2 pm will be in your selected account by the close of the next working day. After 2 pm, this will not get processed until the next working bank day so will not appear in your account until another working bank day after this. So, here is an example that you may have to wait….if you make a withdrawal after 2pm on the Thursday before Good Friday, this will not be processed until the next working bank day (which is the following Tuesday) and so the funds will not appear until Wednesday, (the next working day). This is an extreme and obviously a rare occurrence as withdrawals if made before 2pm WILL appear next day. I have used Ford for a very long time and never had a problem and when fixed rate accounts mature they appear in your account on the day of maturity. VERY GOOD RELIABLE BANK!

Quick to deposit. Very slow to withdraw funds.

Far to slow to transfer Easy Access funds to a nominated account.
Add in extra delays at weekends you may wait best part of a week to get your own money.
Begs the question ? who gets the interest due on all the delay.?
Such a shame ….get it sorted Ford. It cannot be that hard to get a few more good reviews.

Competitive interest rates and found that the time to talk to a staff member, reasonable. When moving money around or back to my nominated account. They have always been within their published time frames.