Moving money between icesave and kaupthing

spluff

I am thinking about opening a Kaupthing account.....

Is it possible to move money directly from Icesave to Kaupthing saving accounts? Or do I have to move them to my main bank first and then to Kaupthing?

Thanks

isofa

Unless you've set one as the nominated account in the other's set-up (and I'm not sure you can), you'll have to move to the nominated (Bank account) first then back out to the other one.

fleenio

I am also thinking of opening a account but i cant decide between kaupthing and icesave. I have read on another website that kaupthing may be in trouble. Are both banks protected by the FSCS?

Baldur

fleenio wrote: »

I am also thinking of opening a account but i cant decide between kaupthing and icesave. I have read on another website that kaupthing may be in trouble. Are both banks protected by the FSCS?

Kaupthing is fully covered by the FSCS, Icesave is covered by the equivalent Icelandic scheme up to €20,000 then by the FSCS for the balance up to £35,000 - see this table.

isofa

fleenio wrote: »

I am also thinking of opening a account but i cant decide between kaupthing and icesave. I have read on another website that kaupthing may be in trouble. Are both banks protected by the FSCS?

If you read every paper / media channel, every bank is in trouble, there is constant scare scaremongering, they are as safe as any other. Both are good organisations IMO.

Plenty of related threads on this subject, run a search on the forum.