ING Direct uk,to acquire KE Deposits

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  • nilrem_2
    nilrem_2 Posts: 2,188
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    My advice is worthless as I thought Icesave was safe but in view of recent events I would think that savings are more secure with a Dutch bank than with one belonging to Iceland.
  • l33tsp33k
    l33tsp33k Posts: 28 Forumite
    alm721 wrote: »
    1) Does that mean KE customers will go from 100% FSCS compensation up to the £50k, to the ING passport scheme compensation?
    .

    ING is not an Icelandic bank, they are Belgian or Dutch IIRC...
  • sparky666
    sparky666 Posts: 39 Forumite
    I would think the KE deposits will stay £50k uk cover.
  • MadSage
    MadSage Posts: 83 Forumite
    We will have to wait and see, but I would guess business will go on as usual with Kaupthing Edge continuing as they are, like Abbey, A&L, and B&B. ING get something out of this. At the moment, lots of people are wary about ING because of the compensation scheme. Now they can still pull those customers in via KE.
    MadSage

  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    sparky666 wrote: »
    I would think the KE deposits will stay £50k uk cover.

    Why?

    When Santander bought Bradford and Bingley, the deposits got moved to Santander's FSCS license, meaning B&B was covered as if it were part of the same financial institution as Santander. Why would the same not apply here?
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • Thinker
    Thinker Posts: 56 Forumite
    I believe that ING are covered by the dutch compenstion scheme which covers depositers up to 100k Euros. I would have thought however that the FSA would have to honour its 100% guarantee to KE depositers as Kaupthing Bank paid up fully to the British FSA scheme previously.

    Can Martin confirm this?

    In any event, I am reasonably positive about things because ING must be well placed finacially to buy KE assests in this climate - then again look at Lloyds buying HBOS??

    I will be trying to learn more about ING.
  • coolio_2
    coolio_2 Posts: 1,408 Forumite
    Can't login anmymore at KE
  • cwcw
    cwcw Posts: 928 Forumite
    l33tsp33k wrote: »
    ING is not an Icelandic bank, they are Belgian or Dutch IIRC...

    They are Dutch, but if they went bust, how easy do you feel about claiming the first £16k from the Dutch? Granted, Holland is a bigger country than Iceland, but for me, I wouldn't touch anything other than full FSCS guarantees with a bargepole.
  • KTF
    KTF Posts: 4,820
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    The BBC only mentions that Heritable is being sold to ING:

    http://news.bbc.co.uk/1/hi/business/7658417.stm
  • alm721
    alm721 Posts: 727
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    I can still log in.
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