Kaupthing Edge Risk?

GBY

I was thinking of using Kaupthing Edge as the savings account in which to put money from a free credit card balance transfer, known as stoozing. However, I read elsewhere that Kaupthing are believed to be high risk and may fold, I know the first £35K will be protected but if there is a collapse I may not be able to get the money immediately.

Does anyone else have concerns about this bank?

exel1966

NO, totally unfounded !!

Regardless you still have protection !

You've got far more chance of being struck by lightning in the next hour than KE folding !

[Deleted User]

exel1966 wrote: »

You've got far more chance of being struck by lightning in the next hour than KE folding !

I doubt it!! (Fingers crossed!!):D

jules73_2

mmmm.....Not sure about those odds exel. Sounds a little far fetched.
1 in 4,500,000,000

exel1966

As you like figures how about working out the odds of KE folding in that same hour ?

jules73_2

:rotfl: Well, I dunno....But I'll be down the bookies in the morning to see if they will take the bet. All my savings and assets on KE to fold before GBY gets struck down.:money:

exel1966

You're willing to lose that £1 are you ?

jules73_2

:rolleyes: OK, maybe I'll put it in Kaupthing. Not much of a gambler after all.

[Deleted User]

GBY wrote: »

I was thinking of using Kaupthing Edge as the savings account in which to put money from a free credit card balance transfer, known as stoozing. However, I read elsewhere that Kaupthing are believed to be high risk and may fold, I know the first £35K will be protected but if there is a collapse I may not be able to get the money immediately.

Does anyone else have concerns about this bank?

A British Bank won't be allowed to "fail", as the powers that be will back them all regardless. Bradford & Bingley's internet saver pays 6.51% AER at present. I had an a/c with KE, and closed it a short time ago, because of logging in issues, and temporary missing interest. The constant negative press comment was also hard to ignore.

jules73_2

Goldfinger has changed my mind...back down the bookies

Geoffo_M

Deleted_User wrote: »

I had an a/c with KE, and closed it a short time ago, because of logging in issues, and temporary missing interest.

I noticed my interest was short last month and assumed we were working on different number of days in the calculation. Did they admit to temporary missing interest, and what reason did they give?