My bank told me not to invest in Kaupthing Edge!

formulaonefan

Also I did a google on kaupthing edge and found this article:

http://www.thisismoney.co.uk/ask-an-expert/savings/article.html?in_article_id=430852&in_page_id=111

jem16

formulaonefan wrote: »

When I saw the post I got really scared. With all the login problems we had lately and I'm still unable to logon to Kaupthing Edge I was for one moment thought oh sh**!

Did anyone have or had problem logging into Kaupthing Edge?

No I have had no problems at all.

Jonbvn

formulaonefan wrote: »

Also I did a google on kaupthing edge and found this article:

http://www.thisismoney.co.uk/ask-an-expert/savings/article.html?in_article_id=430852&in_page_id=111

So it's been collapsing for 6 months already?;) The other thing to consider is the FSA guarantee.

Jonbvn

formulaonefan wrote: »

Did anyone have or had problem logging into Kaupthing Edge?

Today (8 Aug) it is fine. However, the accumulated interest earned is not provided.

home_alone

Went into Lloyds bank today to put in a £5 cheque had it for ages, the cashier turned around and said that putting it in had triggered a response she said I had too much in my current account and had I looked at other saving accounts" with a knowing sales look on her face I said "not for long most of it is going into icesave this afternoon" wiping the smile off of her face.

gary

LongTermLurker

home_alone wrote: »

Went into Lloyds bank today to put in a £5 cheque had it for ages, the cashier turned around and said that putting it in had triggered a response

that's a bit of a tight tolerance if their "sell sell sell" alert goes off after a fiver's added.

You can just imagine the flashing red screen can't you?

dwileflunker

elona wrote: »

Whenever I want to withdraw MY money from anywhere and they ask what I am going to do with it I reply either that I am doing home improvements or that my cousin is an accountant - for all know one day either of these statements may be true!;)

I have a much more simple response. I say "it's absolutely nothing to do with you so mind your own bl--dy business". You should see the red faces.

exel1966

I find withdrawing a large cash sum over the counter quite enjoyable especially when I'm asked what I'm going to do with the money as 99% of the time I tell them it's going into a much better account elsewhere and if they were more competitive they'd get to keep my money.:D
They always have that look of surprise/shock on their face and usually don't trouble me further with any questions.

Oblivion

newsaver5 wrote: »

:T Thank you for your comments. I didn't think they were right but it's alot of money and when someone makes a comment, it makes you reconsider.
I will be down to Halifax in the morning to transfer the money!:T

In your original post you said you have £35k to put away. Don't forget that the FSCS guarantee is currently limited to £35k, although this may well increase when the government finally get their act together, probably late Autumn or the new year. So if you were to put away a full £35k with one institution, any interest you earn that is fed into the account will not be guaranteed.

If you haven't already taken out an ISA this year, it might be a good idea to put some money in one with a different provider, and put the balance in a Kaupthing Edge savings account.

Dave.

Essenchill

formulaonefan wrote: »

Also I did a google on kaupthing edge and found this article:

http://www.thisismoney.co.uk/ask-an-expert/savings/article.html?in_article_id=430852&in_page_id=111

Would it not be expected for a new bank like Kaupthing to be borrowing more than other more established banks? Is it ironic that This Is Money also has Kaupthing at the top of their recommendations lists for saving accounts if they are this concerned?

And this article is from Feb with no news anywhere else of concerns about their stability 6 months on...