Confirm Kaupthing and ING DEAL

blizeH

So many Kaupthing threads, it's all rather confusing.

Here's the question many will be asking (and have no doubt already asked, only for it to get lost amongst the countless posts):

Should I be worried about the money I have in a fixed term account with KE? I'm almost tempted to phone them and withdraw, but I've heard good things about ING.

anthony7777777

Calm down ,the Treasury intends to write to everyone on an annual basis telling you who currently has your money

northernsparky

Ing website link - Confirms KE agreement

http://www.ingdirect.co.uk/general/faqs/keandhb.asp

NB protection now under Dutch system at approx £77k

blizeH

Thanks sparky, the ING bit is fine, I'm not worried about that, and if anything I'm more happy about my savings being with them now than Kaupthing.

The one thing that does worry me is the Dutch system - what's the deal with that? What if they do an Iceland and say they can't afford to pay out?

MKUX3

my money 15 k is with fixed bond with heritable til april 09 and husband has seperaTE 35k WITH HERITABLE til may 09 so does this mean that if ING has bought it over we are protected by UK sheme. I am getting a bit confused.

northernsparky

blizeH / MKUX3

Ing Direct is one of the Banks that use the "Passport exception scheme" - see martin's article here

http://www.moneysavingexpert.com/savings/safe-savings

As one of the bigger banks and the EU's attitude to prevent bank failure, Ing is probably as safe as any UK bank

MKUX3

thanks for your comments northernsparky so i feel safe to just sit tight for now as for my 15 K and hubbies 35 K through passport scheme individually it seems safe.

please correct me if i am wrong./

KaptainKreditKrunch

northernsparky wrote: »

Ing website link - Confirms KE agreement

http://www.ingdirect.co.uk/general/faqs/keandhb.asp

NB protection now under Dutch system at approx £77k

Thanks Sparky, thats's just the ticket!

MKUX3

thanks sparky.

i will definately sleep better tonight knowing things are safe and protected.

soolad

MKUX3 wrote: »

thanks sparky.

i will definately sleep better tonight knowing things are safe and protected.

Dont sleep to comfortable keep ur eye open so u can wake up to get update on the new man in charge of ur money. if he found out ur sleeping he may spend ur money in Las Vega.