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  • Domipheus
    • #2
    • 8th Oct 08, 10:25 AM
    • #2
    • 8th Oct 08, 10:25 AM
    I dunno, but the BBC jsut confirmed it. ING Direct aquires all kaupthing-edge british accounts.
  • webdigga
    • #3
    • 8th Oct 08, 10:25 AM
    • #3
    • 8th Oct 08, 10:25 AM
    What is this going to mean.???
    Originally posted by sparky666
    As far as I know ING are covered by the passport scheme aren't they??
  • alm721
    • #4
    • 8th Oct 08, 10:26 AM
    • #4
    • 8th Oct 08, 10:26 AM
    dont know I've just seen this on sky news as a breaking news at the bottom of the screen but nothings been said yet, no idea what it means but the transfers I tried to action from Kaupthing last night have not gone through and I cant get them on the phone.
    • Leon W
    • By Leon W 8th Oct 08, 10:26 AM
    • 1,633 Posts
    • 1,099 Thanks
    Leon W
    • #5
    • 8th Oct 08, 10:26 AM
    • #5
    • 8th Oct 08, 10:26 AM
    Business as normal I would have thought but I'd feel happier with ING.

    This also applies to Heritable Bank depositors.
    Last edited by Leon W; 08-10-2008 at 10:40 AM.

  • martinman3
    • #6
    • 8th Oct 08, 10:28 AM
    • #6
    • 8th Oct 08, 10:28 AM
    I believe that they are also taking the assets of Heritable Bank, probably before the Icelandic government grabs them all.
    • cwcw
    • By cwcw 8th Oct 08, 10:31 AM
    • 881 Posts
    • 566 Thanks
    cwcw
    • #7
    • 8th Oct 08, 10:31 AM
    • #7
    • 8th Oct 08, 10:31 AM
    2 things:

    1) Does that mean KE customers will go from 100% FSCS compensation up to the £50k, to the ING passport scheme compensation?

    2) Why oh why couldn't they have bought Icesave too????
  • alm721
    • #8
    • 8th Oct 08, 10:33 AM
    • #8
    • 8th Oct 08, 10:33 AM
    1) Does that mean KE customers will go from 100% FSCS compensation up to the £50k, to the ING passport scheme compensation?

    I sincerley hope not especially given icelands priblems.
    • nzseries1
    • By nzseries1 8th Oct 08, 10:34 AM
    • 2,148 Posts
    • 1,851 Thanks
    nzseries1
    • #9
    • 8th Oct 08, 10:34 AM
    • #9
    • 8th Oct 08, 10:34 AM
    If this happens, I'll be breaking my term deposit.
    No £50,000 guarantee by UK government - no savings of mine.
    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.
    • itsnever2lateisit?
    • By itsnever2lateisit? 8th Oct 08, 10:36 AM
    • 841 Posts
    • 913 Thanks
    itsnever2lateisit?
    What is this going to mean.???
    Originally posted by sparky666
    I guess exactly the same senario as Santander aquiring Bradford and Bingley depositors
    Debt @ LBM 04/07 £14,80401/08 £10,472now debt free

    Target: Stay debt free
  • WilliamT
    For the uninitiated, how does this actually work? Who pays what to who for Ing Direct to take control?
    • nilrem
    • By nilrem 8th Oct 08, 10:39 AM
    • 2,114 Posts
    • 1,952 Thanks
    nilrem
    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
    • By l33tsp33k 8th Oct 08, 10:39 AM
    • 25 Posts
    • 14 Thanks
    l33tsp33k
    1) Does that mean KE customers will go from 100% FSCS compensation up to the £50k, to the ING passport scheme compensation?
    .
    Originally posted by alm721
    ING is not an Icelandic bank, they are Belgian or Dutch IIRC...
  • sparky666
    I would think the KE deposits will stay £50k uk cover.
  • MadSage
    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
    • By nzseries1 8th Oct 08, 10:42 AM
    • 2,148 Posts
    • 1,851 Thanks
    nzseries1
    I would think the KE deposits will stay £50k uk cover.
    Originally posted by sparky666
    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
    Ing Ke Buyout
    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
    Can't login anmymore at KE
    • cwcw
    • By cwcw 8th Oct 08, 10:44 AM
    • 881 Posts
    • 566 Thanks
    cwcw
    ING is not an Icelandic bank, they are Belgian or Dutch IIRC...
    Originally posted by l33tsp33k
    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
    • By KTF 8th Oct 08, 10:44 AM
    • 4,389 Posts
    • 1,775 Thanks
    KTF
    The BBC only mentions that Heritable is being sold to ING:

    http://news.bbc.co.uk/1/hi/business/7658417.stm
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