UK savers can go further with the launch of Ford Money, a new UK savings offer from Ford Motor Company’s financial services business.
Launching to UK savers at www.fordmoney.co.uk, Ford Money combines the trusted brand heritage of Ford with the financial expertise of Ford Credit Europe (licensed as FCE Bank plc) to give savers fair rates, straightforward products and excellent customer service.
The new savings offer is grounded in Ford’s long experience in financial services with Ford Motor Credit Company, which was founded in the U.S. in 1959 and launched in the UK just four years later, in 1963.
Ford Money services are available online and by telephone, and include savings products focused on customers’ long-term interests, providing consistent and competitive rates. Customers can open a Ford Money account online in under 10 minutes and deposit savings immediately.
“Savers are looking for competitive and fair savings products. That’s why we created a range of savings products and ISAs that are easy to open, simple to manage and secure,” said Julian Hynd, chief deposits officer, Ford Credit Europe.
“Launching Ford Money is an exciting new chapter for the Ford brand. More importantly, it will help savers make their money work harder – now and in the future.”
Ford Money’s ‘Our Best Rate Guarantee’ means that all customers will benefit from the savings provider’s best available rates even after they’ve applied for their account.
Independent research from PwC and the Target Group Index* have informed the creation of Ford Money to ensure that products are competitive and positioned to meet the principal needs of savers. In addition to rates, the top three features savers look for are the availability of online account management, consistent interest rates and ease of access to savings. The research also found that almost two-thirds (63%) of savers described online access as essential to opening and managing an account. Ford Money has been built with these requirements at the heart of its products.
UK savers can visit www.fordmoney.co.uk to see the available products. These include the Flexible Saver, Flexible Cash ISA, Fixed Saver (one and two year terms) and Fixed Cash ISA (one and two year terms).
Deposits of up to £85,000 are protected by the UK government’s Financial Services Compensation Scheme (FSCS). Further products will be available later.
*In 2014, PwC commissioned research with Morpace among 513 consumers who had taken out a savings product in the previous 12 months or intended to take one out in the next 12 months. The Target Group Index (TGI) interviews about 25,000 UK adults quarterly on their media habits and purchase behaviour. Insights from the 2015 data were used to inform the creation of Ford Money products.
Ford Motor Credit Company is a leading automotive financial services company. It provides dealer and customer financing to support the sale of Ford Motor Company products around the world, including through Lincoln Automotive Financial Services in the United States, Canada and China. FCE Bank is a subsidiary of Ford Credit, which is a subsidiary of Ford. For more information, visit www.fordcredit.com or www.lincolnafs.com.
As part of Ford Credit Europe (licensed as FCE Bank plc), Ford Money is a new savings provider in the UK. FCE is a registered bank in the UK, authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and PRA to accept deposits. Deposits of up to £85,000 are protected by the UK government’s Financial Services Compensation Scheme (FSCS). For more information, visit www.fordmoney.co.uk.
