K.E. Saved by the bell

isofa

Lynt wrote: »

Not necessarily

I'd agree with Lynt, judging by the raft of recent new users and "amazing" posts a high majority don't have the foggiest, and the word research would be alien to them.

Oblivion

isofa wrote: »

I'd agree with Lynt, judging by the raft of recent new users and "amazing" posts a high majority don't have the foggiest, and the word research would be alien to them.

It's mostly down to panic isn't it. In unprecedented times like this, people crave reassurance and will say the silliest things and ask questions replied to many times before, just to get that reassurance.

Unfortunately, that same panic all too often makes the susceptible turn to personal insults rather than reasoned discussion. It's the human condition I'm afraid.

It's no surprise that today this forum has around 1500 people logged in compared with the usual 170 or so on a 'normal' day.

We do indeed live in 'interesting times'.

Dave.

zippygeorgeandben

I'm amazed by how people don't take responsibilities for their own actions.

Yes I opened a KE account, mainly due to Martin's weekly emails saying it was one of the best, especially for instant withdrawal. But IF something were to happen, I'm not going to blame Martin for this, it was my decision at the end of the day and what will be will be!

I feel bad for withdrawing my savings from KE today and I am in 2 minds as to whether to 'attempt' to ring them and ask them to cancel my instruction. I can't have been that bothered as I've only gone for BACS option so it won't appear for another three days anyway! (CHAPS was £20 charge but same day)

Whatever people decide, it's up to them and there own situation but I wouldn't dream of blaming someone else.

Ben

Oblivion

zippygeorgeandben wrote: »

I'm amazed by how people don't take responsibilities for their own actions.

Yes I opened a KE account, mainly due to Martin's weekly emails saying it was one of the best, especially for instant withdrawal. But IF something were to happen, I'm not going to blame Martin for this, it was my decision at the end of the day and what will be will be!

I feel bad for withdrawing my savings from KE today and I am in 2 minds as to whether to 'attempt' to ring them and ask them to cancel my instruction. I can't have been that bothered as I've only gone for BACS option so it won't appear for another three days anyway! (CHAPS was £20 charge but same day)

Whatever people decide, it's up to them and there own situation but I wouldn't dream of blaming someone else.

Ben

I agree with that Ben. I've seen posts today blaming Martin for 'encouraging' them to save with Icesave and KE, and I find these outrageous. MSE simply reports what appear to be the best deals around, and it is up to the individual to do their own research and weigh up the risks involved.

Don't feel bad about withdrawing your funds from KE. It's YOUR money and your right to keep it safe. I withdrew all my deposits from both Icesave and KE last week because I could see the way things were going. I've left £1 in each account just in case the banking world ever becomes sane again. Do I feel guilty for doing it? ...... not on your nelly.

Dave.

trevs707

Ignore all adverse name calling comments on this thread and if you can move your money out of KE.
Let the name callers leave their money exposed to what will be an untested and protracted procedure.

trashcan_2

I moved my money out of KE last week. I know its protected but I didn't want the hassle and I didn't want to be short of money for who know long. I feel better for moving it. Everybody should do what they feel. If they are worried, move it, if not leave it. But I don't feel guilty either. I do feel for those people who can't get at their money and are worried sick about it. some people can handle worry and uncertainty and others can't.

LucyTheDwarf

isofa wrote: »

FWIW, I have less than 50K with KE, and I'm staying put, I've been checking all morning and the site works fine, can log it as usual.

Note to the people that seem to have it against us regulars, I don't work for KE, or any bank, nor anything else financially related! I';m just looking for good interest rates for my savings, KE have been good to me via interest rates and service, so I feel it's only fair to do the same in times of crisis, and let's face it, it's a UK bank, with the full 50K FSCS protection, so you even have a guarantee!

I am in the same boat as you, and I feel exactly the same way about KE as you do. They are a UK bank, giving me a market leading rate, and I'm keeping my money there - it's doing my bit to keep this market leading rate account going.

I can't help but thank your posts, isofa, you're a star.

isofa

LucyTheDwarf wrote: »

I am in the same boat as you, and I feel exactly the same way about KE as you do. They are a UK bank, giving me a market leading rate, and I'm keeping my money there - it's doing my bit to keep this market leading rate account going.

I can't help but thank your posts, isofa, you're a star.

Thanks Lucy - let's just hope we are making the right decision!

There has been no mention of problems with KE on the news, and why should there be, it's a different company, different assets and different accounts, and luckily for us a UK registered bank. Still I'd advise anyone with over £50K to think carefully in the light of today.

Equally I agree with Dave and Trashcan above, if you feel unsafe, then withdraw, don't let people tell you what to do, do what you think is right for you, it's your money. If I hadn't have had a fixed term with Icesave, I'd have withdrawn a week ago.

Just hoping the Icesave fiasco works out - it's mess, fingers cross it won't end in compensation.

KE is different though.

LucyTheDwarf

I believe, and hope, that the Government won't let anyone lose anything. A heroic rescue of the UK's savings could be all GB needs - I do feel sorry for him, he's had such terrible luck, but he never should have said he'd banished the economic cycle - though I do feel the media have decided on DC as our next Prime Minister. I really resent the media at times.