Kaupthing Edge thread with a twist - who's not bothered?

altocumulus

KE & Icesave ... I see no rational reason why it is any less safe in these institutions than others ... so staying put am I....

LucyTheDwarf

luvpump wrote: »

ive pulled 40k out of KE and put it into a u.k exclusive account at about the same rate, I dont think anything will happen to KE or Icesave, but no one knows for sure, not even the more "Respected" members on these boards in the unlikely event things did go pair shaped , how long would it take to get your money back ??? A day ? A Month ? A year ? .. again, nobody really knows for sure ..

It was a post for those who aren't screaming "DOOM" from the rooftops.


I am very glad to see this thread Thank you for some good old common sense, and unhysterical posting style. I was getting fed up reading rants

I Kaupthing - or more accurately, their more than respectable rates.

Moggles_2

KTF wrote: »

Is every little thing they change on the website going to make people panic now as well?

Some forum users seem to prefer a dramatic explanation to a more mundane one :rolleyes:

If you want an internet savings a/c, Kaupthing Edge (and Icesave) stand out from the rest, IMO. Customer service is exemplary and the easy access a/cs have valuable interest rate guarantees. I only wish I could say the same about other savings providers I've used.

I think much of the panic is fuelled by the news media. There's a lot of nonsense written by journalists, even in the so-called financial press. Those who can, do. Those who can't, write about it!

home_alone

Most of the problems so far have been with mortgage lenders NR, B&B and the german estates bank, we do not know for certain to what extent our high street banks were involved with the american housing market, a quess is Barclays would be right in there as they have a big market in the states.

gary

alanj_2

I've got money with KE and it's staying there. As the balance is under £50k I will be fully protected from Tuesday but I have one question: If the worst was to happen with this (or any other) bank would I stop earning interest on the balance on the day it folded or would it continue to accrue until I was paid out under the compensation scheme? £50k earns interest of over £250 per month so if interest doesn't accrue you stand to lose £750 if it takes 3 months to settle. (This period has been quoted elsewhere.)

Baldur

The FSCS covers capital & interest up to the day of failure, as far as I can recall.

<Edit> As far as your 3 month query is concerned, the FSCS website says:

After a declaration of default, FSCS aims to process all claims within six months. However, the time this takes depends very much on the type of claim.

MABLE

Lets hope all these lemmings dont bring the bank down!

vishy01234

I have to agree - too much scaremongering going on. But to reassure worried folk, a statement has been released an hour or so ago from a Head Honcho at Kaupthing to allay fears: http://www.guardian.co.uk/business/feedarticle/7844570

TechnoBadger

Don't panic Mr Mainwaring! If the £50,000 doesn't cover you, methinks that Mr Darling will make it unlimited this week anyway. Please don't make the situation any worse for Landsbanki & friends! I'm happy that I'll be seeing my Icesave savings when I actually need them. Plus very good interest. Sleep easily - no ordinary saver has lost anything.






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campins

campins wrote: »

Well the Fool think that they are not as much in danger as many think http://www.fool.co.uk/news/your-money/savings/2008/10/03/what-about-kaupthing.aspx?terms=kaupthing+edge :T

Hmmmm.......http://news.bbc.co.uk/1/hi/business/7653750.stm and they are calling in pension fund money to shore up the economy. :cool: