Kaupthing Edge 10% savings account did anyone take it up?

horsemadmoodymare

Hi, I opened the above account but haven't transferred any money in yet, bit reluctant to do so as its not a british bank and under the current climate. Does anyone have any advice for me please?

ryanguevara1983

The Kaupthing Edge account is operated by a UK company, Kaupthing, Singer & Friedlander, so the Financial Services Compensation Scheme (FSCS) provides the same protection as for any other UK bank.

That means anything up to £35,000 is safe - if you've got any more than that, you're too rich - give me some!

ryanguevara1983

Also, Halifax have got a 10% rate for a year, if you'd feel happier with a high street bank - but I think it closes in a few days.

dean_ham

10% where? highest 12 month period i can find is 7.15%

im on the 6.5% savings, havent had a problem with them and as the above post said you are covered upto £35,000

ryanguevara1983

Hurry up - you've got til the 20th to open it!:

http://www.halifax.co.uk/savings/regularsaver.asp

horsemadmoodymare

I believe the Kaupthing Edge was an ISA???????????????

LongTermLurker

horsemadmoodymare wrote: »

Hi, I opened the above account but haven't transferred any money in yet, bit reluctant to do so as its not a british bank and under the current climate. Does anyone have any advice for me please?

Excuse me? 10%? :eek:

The interest rates page doesn't list anything above 7.15% AER and there's no mention of an ISA on the website - an ISA at 10% would be an interesting concept in itself...

If this account exists, please could you post further details, including a link?

Sebby*

ryanguevara1983 wrote: »

Also, Halifax have got a 10% rate for a year, if you'd feel happier with a high street bank - but I think it closes in a few days.

But it's a regular saver so only £500/month can be deposited. That said, I don't believe Kaupthing Edge do a 10% account anyway...

horsemadmoodymare

It was on one of Martins news emails about a month to six weeks ago????? Will dig out my paperwork and get back to you all.

horsemadmoodymare

You're right, the paperwork says 6.50% AER and its not an ISA but they do have a fixed term account with 6.86%AER.

Jonbvn

horsemadmoodymare wrote: »

You're right, the paperwork says 6.50% AER and its not an ISA but they do have a fixed term account with 6.86%AER.

Just to correct the above:
6 month term account: 6.97% AER
12 & 36 month term accounst: 7.15% AER

http://www.kaupthingedge.co.uk/About/News/TermRateIncrease.aspx