100k with kaupthing edge

isofa wrote: »

If you are scared, I'd suggest reduce your balance to 50K which is currently fully protected under the FSCS. (Anything above 50K isn't.)

I have less than 50K with KE and I'm happy to keep it there at present.

As an Icesave investor at risk of losing some or all of my money (under £35k total) let me assure you that the first £16k is only covered by the Icelandic government compensation scheme and the FSA will only make up any shortfall between this amount and up to £50k. If Iceland goes bust then the £16k is just lost full stop it appears.

Of course before today I foolishly thought my whole deposit with Icesave was covered by the FSA (as it was under £35k) due to the numerous lies and untruths told by Icesave and other Icelandic banks to that effect. The most unjust part of all is that what appeared to be the most reputable Icelandic bank went bust first and that those with £16k or less deposited may lose all their money. Those in Kaupthing Edge should clearly have been worried about risk at those high levels of interest.

I deliberately ignored Martin Lewis's charlatan and irresponsible tips for ICICI precisely because they were an Indian bank with damn all comeback if they went bust.

I am only an investor in Icesave at all because Martin Lewis regularly tipped it as a sound bet. He should be ashamed of himself and give a public apology but instead of this he will no doubt be coining it all the way to the bank and setting up click thrus to new dodgy deposit takers that he will now try to lure British savers in to the clutches of.

Public hanging is too good for Martin Lewis is what I say.:eek::mad::mad::mad:

Moneysavingexpert phooey - MoneyLosingNincompoop is more like it.:mad::mad::mad:

Kaupthing Edge is registered as a British bank, and is supervised by the FSA. As such you are fully covered by the FSCS up to 50k. My advice would be to take out 50k and put it somewhere else to keep you below the 50k limit in KE.

Andrew64 wrote: »

Kaupthing Edge is registered as a British bank, and is supervised by the FSA. As such you are fully covered by the FSCS up to 50k. My advice would be to take out 50k and put it somewhere else to keep you below the 50k limit in KE.

What makes you so certain of that? Promises on websites are easily changed and reworded in just a few minutes.

Icesave also appeared to have a UK subsidiary and claimed your first £35k was fully covered by the "Investors Compensation Scheme" until today. The business of the Icelandic government scheme only covering the first £16k has only just come to light.

Believe me when you can't get at your money and might have to wait months to get some of it back and are facing financial meltdown you don't want to be in that situation at all or having to rely on any compensation scheme to one day pay you back something.

If the ICS was to be any good it should cut within 14 days maximum and there should be no loopholes with the FSA letting people like Icesave get away with misrepresenting the protection they were offering.

KingL wrote: »

I have actually. When did you get access to my personal finances ?

No one who is an Icesave saver would have made the comments that you made. Much more likely that you are a sad loner who can't sleep who gets off on revelling in the misfortune of others.