100k with kaupthing edge

NonGeographicalMan

isofa wrote: »

If you are scared, I'd suggest reduce your balance to 50K which is currently fully protected under the FSCS. (Anything above 50K isn't.)

I have less than 50K with KE and I'm happy to keep it there at present.

As an Icesave investor at risk of losing some or all of my money (under £35k total) let me assure you that the first £16k is only covered by the Icelandic government compensation scheme and the FSA will only make up any shortfall between this amount and up to £50k. If Iceland goes bust then the £16k is just lost full stop it appears.

Of course before today I foolishly thought my whole deposit with Icesave was covered by the FSA (as it was under £35k) due to the numerous lies and untruths told by Icesave and other Icelandic banks to that effect. The most unjust part of all is that what appeared to be the most reputable Icelandic bank went bust first and that those with £16k or less deposited may lose all their money. Those in Kaupthing Edge should clearly have been worried about risk at those high levels of interest.

I deliberately ignored Martin Lewis's charlatan and irresponsible tips for ICICI precisely because they were an Indian bank with damn all comeback if they went bust.

I am only an investor in Icesave at all because Martin Lewis regularly tipped it as a sound bet. He should be ashamed of himself and give a public apology but instead of this he will no doubt be coining it all the way to the bank and setting up click thrus to new dodgy deposit takers that he will now try to lure British savers in to the clutches of.

Public hanging is too good for Martin Lewis is what I say.:eek::mad::mad::mad:

Moneysavingexpert phooey - MoneyLosingNincompoop is more like it.:mad::mad::mad:

KingL

NonGeographicalMan wrote: »

If Iceland goes bust then the £16k is just lost full stop it appears.

We don't know that yet. Hold up for a day or two until we see how it pans out.

NonGeographicalMan wrote: »

I deliberately ignored Martin Lewis's charlatan and irresponsible tips for ICICI precisely because they were an Indian bank with damn all comeback if they went bust.

They are fully protected by the UK FSCS and are no more at risk (protection-wise) than any other UK bank. This has been made clear throughout.

I am only an investor in Icesave at all because Martin Lewis regularly tipped it as a sound bet. He should be ashamed of himself and give a public apology

Ye gads, man. Take responsibility for your life and YOUR decisions - the benefts and possible risks were all laid out before you to read.

Andrew64

Kaupthing Edge is registered as a British bank, and is supervised by the FSA. As such you are fully covered by the FSCS up to 50k. My advice would be to take out 50k and put it somewhere else to keep you below the 50k limit in KE.

NonGeographicalMan

KingL wrote: »

Ye gads, man. Take responsibility for your life and YOUR decisions - the benefts and possible risks were all laid out before you to read.

Go and crawl back under your stone forum prig.

You haven't lost access to most of your cash savings and so are in no position to judge what it is like for that to happen to you.

As to Martin Lewis he will be laughing all the way to the bank.:mad:

NonGeographicalMan

Andrew64 wrote: »

Kaupthing Edge is registered as a British bank, and is supervised by the FSA. As such you are fully covered by the FSCS up to 50k. My advice would be to take out 50k and put it somewhere else to keep you below the 50k limit in KE.

What makes you so certain of that? Promises on websites are easily changed and reworded in just a few minutes.

Icesave also appeared to have a UK subsidiary and claimed your first £35k was fully covered by the "Investors Compensation Scheme" until today. The business of the Icelandic government scheme only covering the first £16k has only just come to light.

Believe me when you can't get at your money and might have to wait months to get some of it back and are facing financial meltdown you don't want to be in that situation at all or having to rely on any compensation scheme to one day pay you back something.

If the ICS was to be any good it should cut within 14 days maximum and there should be no loopholes with the FSA letting people like Icesave get away with misrepresenting the protection they were offering.

KingL

NonGeographicalMan wrote: »

Go and crawl back under your stone forum prig.

You haven't lost access to most of your cash savings and so are in no position to judge what it is like for that to happen to you.

As to Martin Lewis he will be laughing all the way to the bank.:mad:

I have actually. When did you get access to my personal finances ?

NonGeographicalMan

KingL wrote: »

I have actually. When did you get access to my personal finances ?

No one who is an Icesave saver would have made the comments that you made. Much more likely that you are a sad loner who can't sleep who gets off on revelling in the misfortune of others.

KingL

And with those heights of moral integrity and intellectual discourse ringing in my ears, I think I will head off to bed.

goodnight

Fella

It's the Icelandic Government who have screwed UK savers.

And it's the UK Government who have so far failed to do anything about it.

Those are the people who you should blame.

NonGeographicalMan

Fella wrote: »

It's the Icelandic Government who have screwed UK savers.

And it's the UK Government who have so far failed to do anything about it.

Those are the people who you should blame.

Regardless of that if Martin Lewis hadn't misused his position to start tipping dogy overseas banks offering only 0.1% or 0.2% more than the highest paying UK based outfits then we would at least have been fully bailed out by the UK government government if the worst happened in a British bank.

The FSA also have a lot to answer for in taking no action over the deliberate prolonged misselling by Icesace to depositors that upto £35,000/£50,000 was fully protected by the UK Investors Compensation Scheme.