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

cheekykid

alm721 wrote: »

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.

Am not sure whether ING is going to honour any interest rate in the case we break the term. Am going to find out on monday, hopefully.

There is a guy here who works at ING. Can he inform us what is the situation with us?

cheekykid

Has any of you managed to break the fixed term and get his money back?

MiserlyMartin

Relax. ING cannot change your fixed rate accounts without having to give you the option to move your money out without penalty. As people will do this rather than suffer the inferior and untested protection of a Dutch bank should it go under, I can't see them breaking the rates.

cheekykid

MiserlyMartin wrote: »

Relax. ING cannot change your fixed rate accounts without having to give you the option to move your money out without penalty. As people will do this rather than suffer the inferior and untested protection of a Dutch bank should it go under, I can't see them breaking the rates.

That's neither here nor there.

The people with fixed terms accounts have been unable to break the deal and get their money out. This is what is of concern.