Savings Interest Rates, Switch Offers and Guides for Ford Money

Who they are

Ford Money combines the trusted brand heritage of Ford with the financial expertise of Ford Credit Europe, operating under the licensed entity FCE Bank plc. Ford has been managing money and providing lending via its finance subsidiary since 1963, and in 1997 Ford Credit obtained its UK banking licence and became known as FCE Bank plc. The Ford Money savings brand itself launched in April 2017 with the aim of making savings simpler for everyday UK savers.

It is a purely online bank - there are no branches - but customers can manage their account online or through an app, and there is also a UK-based call centre, open seven days a week. One thing worth knowing on the licensing side: "Ford Credit", "Ford Credit Europe", and "Ford Money" are all UK trading styles of FCE Bank plc - so if you hold savings with any other FCE Bank product, they would share the same FSCS protection pot.

Savings accounts

Ford Money keeps its range focused and deliberately unfussy. The Flexible Saver is the easy access option, paying 3.54% AER (variable) and opening with as little as £1 - with unlimited withdrawals whenever you need them. If you can lock your money away, the Fixed Savers pay 4.30% AER for one year, 4.40% AER for two years, and 4.50% AER for three years, each requiring a £500 minimum and no access until maturity.

For tax-free savings, there are fixed Cash ISAs across all three terms - 3.75% AER at one year, 3.80% AER at two years, and 3.90% AER at three years, also from £500. The ISAs accept transfers in from other ISA holdings, which is handy if you want to consolidate.

Every account carries Ford Money's Best Rate Guarantee. On variable rate products, they promise you will always receive the same rate as new customers on like-for-like products. On fixed rate products, you will receive the interest rate shown at the time you apply, or the higher rate if they increase it before you make your initial deposit. That is a genuinely useful commitment - it removes the worry of being quietly left on a stale rate.

All eligible deposits made with Ford Money, up to a total of £120,000 per person, are protected by the FSCS. That limit sits above the standard £85,000 that applies to most banks - check with the FSCS directly if you want to understand how it applies to your circumstances.

Is it right for you?

Ford Money suits savers who are comfortable banking entirely online and want a clean, no-fuss range with a real loyalty commitment built in. There is a UK-based call centre, open seven days a week, to help with any service queries. There are no switch bonuses or current account perks here - this is purely a savings proposition, so if that is what you are after, it is worth a look.

Rates change over time, so check the live figures on this page before you apply to make sure you are seeing the most current numbers.