Fixed Term Deposit With Kaupthing Edge

mothertheresa

I have a 3 year Fixed term deposit account which ends 2011 with Kaupthing Edge (now ing) I can se my account on the Kaupthing Edge web site. What should I do
1 Will Ing let me know they have my account
2 Can I withdraw from the Kaupthing Edge
3 Is it best left with Ing
Thanks

olly300

ING are a Netherlands based banking company. The Netherlands is in the EU so unlike Iceland if they !!!! around things can be done against.

In addition their UK operation is regulated by the FSA which means if they go bust you will get the first £50,000 back from the UK.

Lavendyr

Incorrect, they operate under the passport scheme:

http://www.fscs.org.uk/consumer/how_to_claim/deposits/eea_firms_that_have_topped_up/

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

"Your ING Direct savings are protected by the Dutch National Bank’s Deposit Guarantee Scheme which has increased its guarantee to €100,000 (approx £77,700) per person."

I personally will be withdrawing as soon as possible. I've had as much experience of passport schemes as I care to.