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Should i pull out of KE?

24

Comments

  • MadSage
    MadSage Posts: 83 Forumite
    As I said in another recent post, it depends on how desperately you need your money. If you have your money for bills (eg. mortgage repayments) in there, it's more understandable if you're overcautious.

    Mine is waiting for me to put a deposit on a house next year, which I suspect is going to be later than originally planned. Many people seem to use KE for long term savings.
    MadSage

  • Eager_Saver
    Eager_Saver Posts: 73 Forumite
    Not wanting to add to the panic, I'd say if you have more than 50K, yes, move some of the money to another bank, but if not (and if you don't need the money at short notice) leave it there. Mine will stay in both a 1 year fixed and direct access account ... but I'll be checking Martin's thread on a regular basis.
  • M3_Sussex
    M3_Sussex Posts: 351 Forumite
    Part of the Furniture Combo Breaker
    I took my £35K out yesterday. I know it's guaranteed but I don't want the hassle and the wait to get it back if KE goes under.
  • downs523
    downs523 Posts: 866 Forumite
    Part of the Furniture Combo Breaker
    M3_Sussex wrote: »
    I took my £35K out yesterday. I know it's guaranteed but I don't want the hassle and the wait to get it back if KE goes under.

    exactly, why bother with the risk and hassle to get your cash back!!!
  • isofa
    isofa Posts: 6,091 Forumite
    Did any of you leave the min KE balance in when you withdrew (currently £100) or did you just empty the lot, just curious!
  • M3_Sussex
    M3_Sussex Posts: 351 Forumite
    Part of the Furniture Combo Breaker
    isofa wrote: »
    Did any of you leave the min KE balance in when you withdrew (currently £100) or did you just empty the lot, just curious!

    I took the lot!!
  • downs523
    downs523 Posts: 866 Forumite
    Part of the Furniture Combo Breaker
    same took the lot, does this automatically close the account or do i have to contact them?
  • formulaonefan
    formulaonefan Posts: 357 Forumite
    I took the lot out. I did a bacs process on saturday. It takes 3 working days so I have until thursday to get my money. Hope I get it safely without any issues. Fingers crossed. Its my saving for house deposit. I'm Pretty worried about it.
  • crazydad
    crazydad Posts: 52 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    due to recent events i'm bumping my initial question, Should i pull out of KE?

    getting a bit worried now.

    cheers
  • jamieslucky7
    jamieslucky7 Posts: 110 Forumite
    crazydad wrote: »
    due to recent events i'm bumping my initial question, Should i pull out of KE?

    getting a bit worried now.

    cheers

    If you are going to need to money soon, then yes. Otherwise, leave it there.
This discussion has been closed.
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