Concerned about a Fixed Term Deposit with KE

messeditup_2

I closed my term deposit account last monday
but when i look on the website it seems that my 30k is still in the term deposit account
spoke to KE/ING and was told that it will take some days for the system to catch up!!!!!!!!

trust no one they all lie

Paul.J.M

In the same position have money locked in a FTD i am hopeful the interest rate will remain the same, i have just transfered £500 in to easy access account with no problems, I want to transfer about 34K into another FTD does anyone know if the previous KE rates will still be honoured if i transfer, ie 7.15% ??

cheekykid

Well am happy to leave my money there since ING will honour the interest rates from KE am just not sure how to proceed with the lost interest unless currently we are being earning interest?

cos69

cheekykid wrote: »

.... just not sure how to proceed with the lost interest unless currently we are being earning interest?

Why should there be any lost interest ? The terms for the account say "Interest paid on term maturity" so its not as if your reliant on them adding interest to the account each day, its a calculation they do on maturity.

cheekykid

cos69 wrote: »

Why should there be any lost interest ? The terms for the account say "Interest paid on term maturity" so its not as if your reliant on them adding interest to the account each day, its a calculation they do on maturity.

Yes, you are right. Amount is due to matture on 06/04/09=£3,423 so all should be ok unless they go bust till then:eek:

MKUX3

can i not close a heritable fixed rate savings accounts??

now with ING

trojjer

I've got £1000 in a fixed term account with KE/ING until March. I'm not worried about it for now as I know it's still there, but I'm wondering if the process of getting it out will be as simple as when I sent the £500 to Natwest from the instant access account... Also, where do I send an R85 form to? I'm a full time student and I've managed to escape interest from all my other accounts, but the KE site always did seem to withhold such details (as far I as I could tell), and the takeover just complicates matters. I'm sure there must be other people on here who've done this -- maybe I'm missing an entire thread about it?

Regarding the title: Does this mean that I won't be able to get the new customer rate for an ING savings account? I might as well try anyway I suppose... I'm annoyed about not meeting the Tesco deadline.

oldandgrumpy

Methinks slopemasters' bank may be confusing Kaupthing (in serious trouble) with KaupthingEdge. KE are still accepting deposits but NOT fixed term deposits. I have just had 2 paid up over the week-end, all properly, and others are still showing that pre Oct agreements are being honoured.

skitskut

trojjer wrote: »

Regarding the title: Does this mean that I won't be able to get the new customer rate for an ING savings account? I might as well try anyway I suppose... I'm annoyed about not meeting the Tesco deadline.

See:
http://forums.moneysavingexpert.com/showthread.html?t=1404815