Whats going to happen to kaupthing edge fix term accounts??

polus_

llyblf wrote: »

Spoke to someone at ING a moment ago who informed me that fixed term accounts will be honoured under KE's terms although the instant access rate is likely to change. He seemed well informed but its still certainly no guarantee.

Wrong! Do you have the above in writing?

I've phoned twice and both times the person on the other side read from a script.

ING have not yet decided on what will happen to Kaupthing Edge fixed term accounts when they mature.

elbe

llyblf wrote: »

Spoke to someone at ING a moment ago who informed me that fixed term accounts will be honoured under KE's terms although the instant access rate is likely to change. He seemed well informed but its still certainly no guarantee.

spoke to guy at ING mid afternoon, yes, he read from a script. ING HAVE NOT decided what is going to happen to the fixed term KE accounts ie whether or not they'll honour the interest rates set up by KE. He was open and honest and said as soon as ING had sight of our accounts we would be updated by e mail or letter as to what rates overall were being offered etc

polus_

cheekykid wrote: »

What about those who broke the fixed term with KE but are now under ING? Are ING aware of our request or we need to ask again?

I asked once if I would loose all interest if I broke out my fixed term and the reply on the first phone call was "yes" and then confirmed 'so I would only get out what I put in' - "yes" ... if thats what you meant.

cheekykid

polus_ wrote: »

I asked once if I would loose all interest if I broke out my fixed term and the reply on the first phone call was "yes" and then confirmed 'so I would only get out what I put in' - "yes" ... if thats what you meant.

What am asking is when can I withdraw my money? I have asked for the fixed term to break which would incur 1% loss of interest to my balance and I was happy for it. Still my money is frozen under the fixed term and I can't touch it. Under KE terms am expecting to receive interest even if i break it. Am not really happy with shi**ing my pants here

polus_

I see. Its seems there is a lot of confusion with the T&C and as Im in the same situation as you Im a little annoyed that they seem to be taking so long to release any revisions. I wonder if they are doing this as people will quit fixed term accounts to loose out on interest as I was told on the phone this afternoon that I would receive no interest payment should I break my fixed term. If I only loose 1% then I would have done it, where did you hear that?

cheekykid

polus_ wrote: »

If I only loose 1% then I would have done it, where did you hear that?

It is the rule under KE terms. You only lose 1% not all interest.

polus_

Well, I hope thats the case but the official line at the moment is that they are still to decide on what rates, terms and conditions are applied to our accounts :think:

cheekykid

polus_ wrote: »

Well, I hope thats the case but the official line at the moment is that they are still to decide on what rates, terms and conditions are applied to our accounts :think:

I'll be giving them(ING) a call on monday. I also e-mailed KE.

Caterina

Same as all of you, I have a fixed bond for 3 year, so has my husband, and we will have to wait for ages before it is paid back into our link accounts.

All the money I had in the savings, which I have transferred from KE to my link account are at present in no-man's land, disappeared from the KE account and not reached my link account yet.

So I am here, crossing my fingers with the rest of you good folks.

Caterina

alm721

Im in the same boat really. I had a 6 month bond with kaupthing which matures on the 20th of this month. Im unsure as to whether to wait it out or withdraw it. If I knew I'd just loose 1% i'd withraw it but the expected interest is £500 which is a lot to losse for the sake of 10 days but then if they don't pay it at all then I'd rather have the money out now. Not easy is it.