Ladies and gents - please calm down and stop adding to the hysteria

gax23

Another update:

Iceland's largest bank Kaupthing has been given a loan of 500m euros ($678m; £389m) from the country's central bank. "The central bank of Iceland has provided Kaupthing with a 500m euro loan to facilitate operations, and Kaupthing is committed to working with the government to ensure regular workings of the Icelandic financial system," the bank said in a statement.

Not looking too good right now, is it?

bazster

gax23 wrote: »

Thankyou. Finally some sanity. The only "selfish" people are those people who have absolutely no business as to where someone else keeps their money, yet they seem to think they can tell everyone what to do with it based on their own blinkered ignorance.

Whilst I agree with the general thrust of what you are saying here, people are correct in pointing out that you are getting Kaupthing Edge confused with Icesave. KE is fully protected by the British scheme just like any British bank, it's only Icesave where the first 20,000 euros is reliant on the (increasingly dubious) protection of the Icelandic scheme.

If my money had been in KE rather than Icesave it would still be there.

EliTom

Please back this up with evidence.[/quote]

From KE website

FSCS

We are part of the Financial Services Compensation Scheme (FSCS). The scheme is the UK's statutory fund of last resort for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA). The service is free to consumers.
Financial Protection

Payments under this scheme are limited to 100% of the first £50,000 per account holder of all your deposits with us. This means that the maximum claim amount is £50,000.
More information

More information about the protection provided is available from the Financial Services Compensation Scheme website at: www.fscs.org.uk


From www.fscs.org.uk


see


http://www.fscs.org.uk/consumer/How_to_Claim/investments/EEA_firms_that_have_topped_up/


quote


In Iceland

• Landsbanki Islands hf (FSA No. 207250 / approved July 2006)
• Kaupthing Bank hf (FSA No. 222968 / approved February 2008).
  Please note: Although Kaupthing Bank hf has topped up into FSCS, the bank currently operates under the full FSA authorisation status granted to Kaupthing Singer & Friedlander Limited (a UK registered company), which means its depositors are fully protected by FSCS up to £50,000.

Kaupthing Edge is Kaupthing Singer & Friedlander Limited

hth

EliTom

KTF

Maybe these forums need to be shut down as well until the stink clears :-P

blizeH

mikeymo wrote: »

Will anyone who has every had to claim from the FSCS please post and tell us that it worked perfectly?

As far as I know, no one has ever had to claim from the FSCS.

Hopefully, no one ever will either

isofa

gax23 wrote: »

No, but this is:-

An idiot is a fool.

You have posted 3 times incorrect information about Kaupthing, you've ignored all my posts about the correct follow up and links and other users.

I hold quite a significant balance with KE, so I'm utterly aware of the T+Cs and the protection and the risks (No risk at all under 50K, regardless of what you continue to spout).

I post factual information on this forum, and we are trying to keep this place sane in a time of crisis.

Someone coming along posting lie after lie about the protection of Kaupthing will cause further panic.

Why would you do this?

Why can't you research the other threads and read first?

BACKFRMTHEEDGE

KTF wrote: »

Maybe these forums need to be shut down as well until the stink clears :-P

Well that's really useful. The ultimate in censorship.

What is your problem? Why can't you accept a real debate?

gax23

bazster wrote: »

Whilst I agree with the general thrust of what you are saying here, people are correct in pointing out that you are getting Kaupthing Edge confused with Icesave. KE is fully protected by the British scheme just like any British bank, it's only Icesave where the first 20,000 euros is reliant on the (increasingly dubious) protection of the Icelandic scheme.

If my money had been in KE rather than Icesave it would still be there.

Ah, fair enough - got the two mixed up there, sorry! :rotfl:Still, at least it goes to show that some forum members can actually put that point of view across in a civilised manner without resorting to childish insults. Thankyou, and I apologise to you for confusing the two.

In that case, replace KE for Icesave

leviathan

I think it's fairly safe to say that when acccess to the website resumes the accounts will be emptied faster than the Mary Celeste.

Hysteria; rubbish.
If I'd been denied access to my money I'd be totally livid. Forget about this "level of protection", you've got no knowledge of how long it will actually take.

I think any element of trust in Icesave has been eroded by them doing this, whatever their reasons are.
You cannot just cut off peoples access to their hard earned cash and expect them not to act.

funkey_monkey

If the Icelandic govn can't pay the €20,000 then it is in an agreement with other Nordic countries which will step in to cover it.