Kaupthing Fixed Term Break Rate showing 0%

coolio_2

I was under the impression that say I had a 3 year at whatever it is, 7.67%, if I withdraw sooner than 3 years I would receive 6.67%. However, I have just checked my account online, and it has break rate interest rate as 0%.

Jnr_81

I opened my one 3 weeks ago, and I swear it had the correct rate in there before but having just checked mine also says 0%.

whu

I have just checked the details online and it gives the break rates that you would expect and not 0% - I would phone/send a message by secure messaging and get the position clarified as I always thought that you get a decent break rate from them which was one of the attractions

Jonbvn

whu wrote: »

I have just checked the details online and it gives the break rates that you would expect and not 0% - I would phone/send a message by secure messaging and get the position clarified as I always thought that you get a decent break rate from them which was one of the attractions

They have secure messaging?

BTW, my KE FR accounts also say they have 0% break rates.

Baldur

Jonbvn wrote: »

They have secure messaging?

Yes - accessible from the menus on the left of the Accounts screen (4th from the top).

Jonbvn

Baldur wrote: »

Yes - accessible from the menus on the left of the Accounts screen (4th from the top).

Not on my KE account it doesn't? I guess there is a difference between the "old" and "new" accounts.

BTW, that is the one thing that pees me off about KE, their website is probably the worst banking site I have ever come across. Just imagine they are giving different account layouts to different customers!!!

coolio_2

The break rate appears if you go to buy new ones but not on my current ones. hmmm. Mine also doesn't show accrued interest but then it says down the bottom the website is undergoing a fix.

EDIT: All they can suggest is I try and close one and see what happens. Absolutely useless.

Now saying they will investigate and let me know

martinman3

coolio wrote: »

The break rate appears if you go to buy new ones but not on my current ones. hmmm. Mine also doesn't show accrued interest but then it says down the bottom the website is undergoing a fix.

EDIT: All they can suggest is I try and close one and see what happens. Absolutely useless.

Now saying they will investigate and let me know

The break rate was mentioned in a previous thread here and I was surprised to find out that the only proof that you have of the break rate in force is what is displayed (or not) on the online statement.

My personal opinion is that KE are about to change the break rate for future issues and the new software has problems.