Bank of Cyprus UK...

cas84utd

Hey all,

This has been a hard week for me, with accounts at both IceSave and Kaupthing Edge. I put in a request to terminate my KE fixed rate term deposit on Tuesday and was told it would be done by Thursday (today), at which point I was going to CHAPS the money out, however it is not showing up as having completed on my online banking, and I can't get through to them obviously.

I have another term deposit with Bank of Cyprus UK. This is due to mature in late January 2009 and they told me that I cannot break the agreement, but I can put in a request in writing and they will consider it.

What is the state of Bank of Cyprus right now? Done a bit of news trawling and it appears that they are strong, and are even buying up other institutions right now. Does anyone know something a bit more detailed and concrete? How much do I need to worry?

In the light of this weeks events, I am of the opinion that I should pull all money from foreign banks and invest only in institutions FULLY covered by UK FSCS. No top up schemes, no novation possibilities, etc. Just full, UK cover.

Thanks

MKUX3

i am in the same position as you with fixed bonds in heritable bank, and bank of cyprus due to mature april, may, june 09.

i would like to know the same thanks

luvpump

cas84utd wrote: »

Hey all,

This has been a hard week for me, with accounts at both IceSave and Kaupthing Edge. I put in a request to terminate my KE fixed rate term deposit on Tuesday and was told it would be done by Thursday (today), at which point I was going to CHAPS the money out, however it is not showing up as having completed on my online banking, and I can't get through to them obviously.

I have another term deposit with Bank of Cyprus UK. This is due to mature in late January 2009 and they told me that I cannot break the agreement, but I can put in a request in writing and they will consider it.

What is the state of Bank of Cyprus right now? Done a bit of news trawling and it appears that they are strong, and are even buying up other institutions right now. Does anyone know something a bit more detailed and concrete? How much do I need to worry?

In the light of this weeks events, I am of the opinion that I should pull all money from foreign banks and invest only in institutions FULLY covered by UK FSCS. No top up schemes, no novation possibilities, etc. Just full, UK cover.

Thanks

I did a Bacs from Kaupthing last week, wednesday, no sign, fair to say it will be bounced back to the account..

MKUX3

i did look at the back of the Bank of Cyprus certificates last night and it did say covered by UK financial....

cas84utd

I spoke to them on the phone and they said it is a passport scheme they use.

cas84utd

any thoughts?