Notes to editors
All figures, unless otherwise stated, are from a survey by Opinium, commissioned by Ford Money. Total sample size was 1,608 UK savers. Fieldwork was undertaken from 5-8 October 2018. The survey was carried out online. The figures have been weighted and are representative of all UK adults (ages 18+).
On 25 July 2018, the Financial Conduct Authority opened a discussion on introducing a basic savings rate (BSR) in the cash savings market. The proposed BSR ensures banks and building societies pay customers a fair rate of interest without continually switching accounts.
The ‘Bank of England base rate’ is part of the monetary policy action the Monetary Policy Committee takes to meet the target that the Government sets to keep inflation low and stable. The base rate is the interest rate the Bank of England pays to commercial banks that hold money with them. It influences the rates those banks charge people to borrow money or pay on their savings.
About Ford Motor Credit Company
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.
About Ford Money
As part of Ford Credit Europe (licensed as FCE Bank plc), Ford Money is a 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.
Ford Money is a trading style of FCE Bank plc., which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 204469. Registered in England and Wales under registration number 772784.