Kaupthing Edge, Should I Avoid?

Vectra

elbe wrote: »

well said. If we all start moving our money here, there and everywhere things will only get worse in the financial sector.

Yes dead on elbe

poppy10_2

elbe wrote: »

well said. If we all start moving our money here, there and everywhere things will only get worse in the financial sector.

You are forgetting rule 2 of panicking.

Rule 1: Don't panic
Rule 2: If you must panic, do so before everyone else does.

Vectra

Who is panicking poppy? not me m8 never panicked over money.

nicholbb

JohnAnt wrote: »

I suggest emailing the Financial Services Compensation Scheme at [EMAIL="enquiries@fscs.org.uk"]enquiries@fscs.org.uk[/EMAIL] and asking them about their precise terms and timescale of compensation. I phoned the FSCS today and they told me that they didn't know how long it would take 'because, like, it's never happened, right?' and that any compensation 'could take weeks or months'. Alarmed at this rather insouciant style of information management, I phoned the FSA, who told me - even more alarmingly - that there were cases of non-banking financial compensation which dragged on for years. Surprisingly, the FSA are not supervising the FSCS, which is directly answerable to the Treasury.

OMFG: JohnAnt are you are officially classified as an idiot or are you waiting to be statemented? So you spoke to someone to ask a question to which they have no posible way of knowing the answer and they tell you that - BECAUSE IT'S NEVER HAPPENED BEFORE about a situation THAT'S NOT ACTUALLY HAPPEND and you suggest everyone should then email them to ask the same question? :T

Do you think before type? What is wrong with you? I'd love to see the situation from your point of view but I'm just not flexible enough to stick my head that far up my own ... ah, never mind it's wasted on 'people' like you.

Oblivion

elbe wrote: »

well said. If we all start moving our money here, there and everywhere things will only get worse in the financial sector.

Anyone care to hazard a guess at just how many Icelandic trolls are loose on this forum right now?

Dave.

isofa

Oblivion wrote: »

Anyone care to hazard a guess at just how many Icelandic trolls are loose on this forum right now?

Dave.

LOL - open a book with good odds, and we'll all place bets - although will our money be safe?

downs523

everyone is going to lose there savings

donaldtramp

Come on, someone out there must know whether or not interest is covered by the bank protection scheme.

If it isn't my GFs cash and my cash will be moving very sharply out of Kaupthing Edge. We've both got substantial sums (below the 50K limit and we're not married so 2 separate protections) in there and I WANT my interest.

If it isn't guaranteed what's the point of me lending MY money to them?? I don't expect to have to take risks when depositing money in banks.

As for all the people telling me not to worry about my money, get real. Have you not seen what is happening in the stock markets rght now? Biggest ever drop in the Footsie in one day ever. Somethings happening!
http://news.bbc.co.uk/1/hi/business/7655288.stm

Icelands stock index suspended from trading.
Iceland as a country has done a "Northern Rock." This tiny country is now carrying the debt of 5 times its GDP. BBC News 10 mins ago.

I don't think these banking/shares problems have bottomed out by any means and I'm going to make sure I do the best I can out of it.
So if anyone can post up an answer as to whether the interest is protected or not would be most appreciated....

MABLE

downs523 wrote: »

everyone is going to lose there savings

What do you base this on. I take it you have some insider information. Please share it with us.

altocumulus

donaldtramp wrote: »

Come on, someone out there must know whether or not interest is covered by the bank protection scheme.

If it isn't my GFs cash and my cash will be moving very sharply out of Kaupthing Edge. We've both got substantial sums (below the 50K limit and we're not married so 2 separate protections) in there and I WANT my interest.

If it isn't guaranteed what's the point of me lending MY money to them?? I don't expect to have to take risks when depositing money in banks.

As for all the people telling me not to worry about my money, get real. Have you not seen what is happening in the stock markets rght now? Biggest ever drop in the Footsie in one day ever. Somethings happening!
http://news.bbc.co.uk/1/hi/business/7655288.stm

Icelands stock index suspended from trading.
Iceland as a country has done a "Northern Rock." This tiny country is now carrying the debt of 5 times its GDP. BBC News 10 mins ago.

I don't think these banking/shares problems have bottomed out by any means and I'm going to make sure I do the best I can out of it.
So if anyone can post up an answer as to whether the interest is protected or not would be most appreciated....

According to
http://www.creditchoices.co.uk/savings-protection-ask-our-expert-30092008.html
the answer would seem to be yes....