Sleepless nights

Lynt_3

After lots of deliberating, and reading the numerous threads on here, I decided that a safe place, with good rate for my savings, would by Kaupthing. Lots of positive comments about them.
So I opened an account. £100 on its way to start the ball rolling. Felt relieved at last.

Then, today,on here, I read that KE could be a bad idea because of problems in Iceland, and may not be covered for the £35k compensation.
I'm really confused now.

I don't where to go next.

Stavros_3

Now have a glass of wine and a good nights sleep, regards Stav

http://www.kaupthingedge.co.uk/about/fscs.aspx

thumshie

Lynt wrote: »

and may not be covered for the £35k compensation.

They are covered by the 35K currently. Some people will point out the fact that the T&C's state that they may effectively transfer your account to their parent company in Iceland, where either tha FSCS passport scheme, or Icelands own scheme would need to be used..Problems in Iceland, IMHO are no better/worse than here in the UK..

HOWEVER, my view of this is that they are being upfront, and its no different to other Banks/BS where in the T&C's they are allowed to transfer you to any other bank, after all this is what B&B have done..transfered you to Abbey..

Lynt_3

Stavros wrote: »

Now have a glass of wine and a good nights sleep, regards Stav

http://www.kaupthingedge.co.uk/about/fscs.aspx

Thanks Stavros (my fav character )
I did read that before applying for an account. Since then there have been a few scare stories.
When I discovered this site, I was so relieved that there was somewhere I could ask questions and get advice. It would make life easier.
Now it just freaks me out :eek:

Time for another glass.

Lynt_3

thumshie wrote: »

They are covered by the 35K currently. Some people will point out the fact that the T&C's state that they may effectively transfer your account to their parent company in Iceland, where either tha FSCS passport scheme, or Icelands own scheme would need to be used..Problems in Iceland, IMHO are no better/worse than here in the UK..

HOWEVER, my view of this is that they are being upfront, and its no different to other Banks/BS where in the T&C's they are allowed to transfer you to any other bank, after all this is what B&B have done..transfered you to Abbey..

Reassuring words thumshie.
Thanks.

Wolf_Man

Lynt, I have got a lot in KE (over the FSC level) and am not moving it.

Lynt_3

Wolf_Man wrote: »

Lynt, I have got a lot in KE (over the FSC level) and am not moving it.

Thanks Wolf Man
So much negative stuff around at the moment.

Jonbvn

Wolf_Man wrote: »

Lynt, I have got a lot in KE (over the FSC level) and am not moving it.

So have I (& OH).

The important thing to remember is that despite all the bad economic news, not one bank/BS depositor has lost a penny during this crisis. Furthermore, even when banks have gone down, their deposits have been snapped up by another bank.

jack111

So I opened an account. £100 on its way to start the ball rolling. Felt relieved at last.
Then, today,on here, I read that KE could be a bad idea because of problems in Iceland, and may not be covered for the £35k compensation.
I'm really confused now.

I have just transfered into KE a very big deposit.

Stavros_3

jack111 wrote: »

I have just transfered into KE a very big deposit.

I would like to leave a very large deposit on the heads of those who have caused this situation

ad44downey

Lynt wrote: »

After lots of deliberating, and reading the numerous threads on here, I decided that a safe place, with good rate for my savings, would by Kaupthing. Lots of positive comments about them.
So I opened an account. £100 on its way to start the ball rolling. Felt relieved at last.

Then, today,on here, I read that KE could be a bad idea because of problems in Iceland, and may not be covered for the £35k compensation.
I'm really confused now.

I don't where to go next.

sleepless nights for the sake of £100? You're having a laugh, aren't you?