As part of your application, you’ll need to provide us with a Nominated Account. This must be a UK Bank or Building Society current account, from which you can make BACS or Faster Payments.
This Nominated Account must always be used when making deposits to, or withdrawals from, your Ford Money account(s). Any transactions you attempt to initiate from another account will be rejected. This is because we operate what is known as a Closed Loop system in order to prevent fraud and to ultimately keep your money safe and secure.
As part of our security protocols, we will first require you to verify that your Nominated Account is authentic and that it belongs to you.
We’ll do this by sending out a letter separately to your welcome pack, containing an authentication code. When you first log in to your new Ford Money account, you will see a message displayed requesting you verify your Nominated Account. Follow the onscreen instructions to enter the code and confirm the account details. Once this step is complete, you will be able to use your Nominated Account to make deposits and withdraw money.
If you hold a joint account, then only one of the account holders will need to perform this authentication step.
Note that apart from making your initial deposit, you will be unable to transact with us until you have completed the verification of your Nominated Account.