Karupthing, Birmingham Midshires or Braford and Bingley

user49

Hello All

I currently have a savings account with ING of £27000, I want to transfer the money into one of the following, can you please give me your feedback.

Kaupthing Edge Savings
BM e-Saver Account
BB Internet Saver

I know that the 3 providers are regulated by the FSA and are covered up to £35k but are they any other issues to be worried about with the credit crunch climate?

Also should I be aware of anything when transfering the money into the prespective savings accounts?

Thanks!

jennifernil

I am using Kaupthing Edge, my experience has been all good. I have also opened the B&B 3rd issue Internet account as I have more than 35k to place for a couple of months prior to repaying our mortgage.
Likewise I have the BM account, but it does not seem to be so easy to use, no transfer on-line between accounts, and interest has to be paid out to another account.
The other accounts I have opened are BOS 6.5% fixed and IF 6.4%

Petlamb

Thanks for asking this, u49 - i'll be watching with interest (the pun was unintentional, I assure you!) as I'm looking to open an account fairly soon as I'll be needing a new non-ISA saver...

I think i'm personally being irrational over KE and due to that i'm leaning towards BB... I seem to remember a while ago some people saying they'd had difficulty accessing the funds in the KE accounts? Was that actually the case of was it a bit of a mountain out of a molehill situation?

TIA

jem16

I have accounts with kaupthing and BM - no problems with either.

At the moment I'm mainly using Tesco Internet Saver as it has Faster Payments both in and out. It makes it easy and instantaneous to transfer money to my HBOS current account.

trashcan_2

I have accounts with all three and no trouble to use, although for use I do prefer Birmingham midshires and Bradford and Bingley as sometimes I have login problems with kaupthing Edge along with a lot of other people.

user49

Thanks for all the feedback so far. With all the troubles being faced by building soceities if they were to collapse I'd get my savings back well £35k.

I've been reading this link, but I've got trouble understanding if BB share this protection.

http://www.moneysavingexpert.com/savings/safe-savings

nzseries1

I have accounts with KE and B&B as well, no real problems with either except when I had to change my email address with KE I had to ask them three times to do it, which I wasn't too impressed about.
B&B you have to do certain things via snail mail, however at least it's freepost.
I'd recommend either of them. Haven't had to withdraw from either yet so can't comment on that.

trashcan_2

Withdrawing is OK with all 3 of them.

freddysmith

I opened the 6.51% B&B account online a few weeks ago, it took about 8 days in total to setup. I have had no trouble using this account but have limited the amount to 35K.

Ashlion

Kaupthing and B&B have negative outlook fitch ratings, at fitchrating.com.
I'm certainly no expert and may be this isn't a concern with the £35k protection, but if the worst did happen, you might not get your money back for 6 months and lose the interest on it in that time.

Birmingham Midshires pays interest to a linked account, not to the internet account, which is a pain in my view.

To answer your question, BB is protected by FSCS, their registered number is 106126 quoted at the bottom of BB webpage, you can check is on the FSA wesbite: http://www.fsa.gov.uk/Pages/register/

user49

thanks for your all your help at this stage I might just stick with my ING savings account.