Kaupthing Edge interest rates when the accounts actually get transferred

johnoz

Lee_Dunford wrote: »

i just closed my account. Tesco is offering 6.5% for a year, plus tesco points, I have gone there

Hi, Lee

I think you may find that the 6.5% rate is not actually fixed for a year.

Tesco's info gives a few clues:

" ,,, an excellent rate of up to 6.50% Gross / AER."

"Rates correct as at 2nd October 2008."

"Tesco Internet Saver Account rates are subject to change."

krakow

MrChips wrote: »

Thanks for letting me know. I've just logged on and can see it for myself on the account page!

My 31 October interest seems to have been calculated at 6.55% p.a.

Did the interest rate change from 1 November?

According to this page: http://www.kaupthingedge.co.uk/our-products/interest-rates/history.aspx the 6.55% rate ran until the 6th November.

jrellerby

I just received an e-mail from ING saying the rate has been cut to 4.46%, this is the first I had heard I was on INGs lower rate. Communication has been poor about ING's takeover of KE accounts. All I have heard is that information will sent as and when they have it but so far I have heard nothing. I am just wondering when the accounts will get fully transfered

Does anyone know what my position is with regards to the previous rate, should ING Direct be honouring the higher rate? KE guranteed the rate until 2011 but of course this would not have taken into account the transfer of accounts to another provider which is the case here. It would have been good business practice if ING at least stated when the rate would change to give customers time to make alternative savings arrangements if they wanted too. I am now essentially loosing money I could be earning with another provider savings products.

I intend to dump ING as soon as possible. They are not even offering KE customers there introductory rate of 6% for 12 months (or what ever it is). Shame on them is what I say. Funny how I dumped ING to go to KE and here I am back where I started.