ING Direct uk,to acquire KE Deposits

Thinker

I would remind User 'CWCW' and other negative thinkers that KE is fully covered by by the UK FSCS.

KaptainKreditKrunch

http://www.dailymail.co.uk/money/article-1069715/Brown-ready-sue-Iceland-recoup-savings-200-000-Britons-unable-withdraw-money.html

nachovx

cwcw wrote: »

They are Dutch, but if they went bust, how easy do you feel about claiming the first £16k from the Dutch? Granted, Holland is a bigger country than Iceland, but for me, I wouldn't touch anything other than full FSCS guarantees with a bargepole.

With the Dutch scheme you would have to claim the first €100,000 from the Dutch authorities. Seeing their limit is now higher than ours the FSCS would not get involved, technically. That would be 100% of the deposit for virtually all customers -a highly unsatisfactory prospect.

Gambler

cwcw wrote: »

2) Why oh why couldn't they have bought Icesave too????

My thoughts exactly.

nzseries1

Thinker wrote: »

I would remind User 'CWCW' and other negative thinkers that KE is fully covered by by the UK FSCS.

Thinker, if the title of this thread is true, and ING buys out KE's savings accounts, then it may no longer be fully covered by the UK FSCS.

Humper

So what happens if you have a KE AND an ING account? Are they still compensated seperately if they are now in the same bank group? This is getting more confusing by the minute.

cwcw

Babycakes wrote: »

I believe that Iceland has done a deal to sell off their bank deposits to ING.

Why Icesave was not part of it does not make sense.

I don't understand that either. I can only assume that the Icelandic government had, unfortunately for Icesave UK customers, ringfenced all those deposits for its own citizens, so effectively the £4.5bn deposit book is worthless. If only they'd chosen to do it the other way round - bleed Kaupthing/Heritable dry and sell off Icesave - that way there'd be no passport scheme complication at all.

Thinker

For Coolio - KE Login is fine. don't panick. CWCW - I would remind you and all KE customers are covered fully by the FSCS as KE is a registered UK bank. This position presumably wouldnt change with a buy out by ING.

webdigga

Thinker wrote: »

I would remind User 'CWCW' and other negative thinkers that KE is fully covered by by the UK FSCS.

not for much longer by the looks of it.....

nzseries1

Humper wrote: »

So what happens if you have a KE AND an ING account? Are they still compensated seperately if they are now in the same bank group? This is getting more confusing by the minute.

They're not in the same bank group. Yet. We won't know until it happens - it depends on whether they merge the FSA licenses (as in the case of Santander and B&B) or they don't (as in the case of Santander and Alliance+Leicester).