Is Kaupthing Edge workin???

f_@_w_y

Attention all!!!

After blocking me £5000 in icesave, I am concerned about my other £5000 in Kaupthing Edge.

For me, it is saying SERVER TIME OUT again and again....

is it true for everyone???

Crabman

Hi, here's the current info from the Are Your Savings Safe article so you shouldn't need to worry about the safety of your money:

Kaupthing Edge. Currently the top rate savings product (see Top Savings), this is a fully UK registered account, which means if it went bust you’d get the full £50,000 per person back from the UK scheme. So up to £50,000 is completely safe.

STOP PRESS. 11.30am Wed 8 Oct. ING Direct reported to be buying Kaupthing Edge

News reports have emerged this morning (read more) that Dutch bank ING Direct will buy around £3 billion of savings from Kaupthing Edge, and Heritable Bank (the latter has already been declared insolvent).

Neither Kaupthing nor ING Direct are willing to make any comment on this move as yet, and how it would affect how savers would be compensated if ever they needed to be (although one would hope that any deal would mean it's even more unlikely than before that savings will be lost). ING Direct customers are currently protected up to €100,000 by the Dutch protection scheme.

As soon as we have any more details or confirmation of the deal, they will appear here.

nzseries1

Thanks Crabman, I don't mean to be rude, but how does that relate to the original question?
EDIT: I see you've edited your post now.

stevetodd

nzseries1 wrote: »

Thanks Crabman, I don't mean to be rude, but how does that relate to the original question?
EDIT: I see you've edited your post now.

I logged on last night and this morning as well as spoke to them this morning

owls4eva_2

Its just been announced in the house of commons that they are in administration. Would they freeze accounts like they did with Icesave?

Crabman

nzseries1 wrote: »

Thanks Crabman, I don't mean to be rude, but how does that relate to the original question?
EDIT: I see you've edited your post now.

Yes sorry about that, meant to say your money is now guaranteed so no need to move out from a safety perspective.

nzseries1

owls4eva wrote: »

Its just been announced in the house of commons that they are in administration. Would they freeze accounts like they did with Icesave?

Reliable source please.

Tabsy_2

The chancellor during PM's question time said that Kaupthing has been placed into administration. It was live on the BBC.

markbloke

I just logged in to Kaupthing Edge a minute ago to check things out for the OP. Seems to be working fine.

Tabsy_2

For all intents and purposes your money is safe, it's still a UK bank goverened by the FSA. In the words of Hitchikers Guide to the Galaxy.... Don't panic.

whu

markbloke wrote: »

I just logged in to Kaupthing Edge a minute ago to check things out for the OP. Seems to be working fine.

I have just done the same and it seems to be working ok