Kaupthing Edge Savings News

actonmike

Hi there,

There was an article on page 15 of the Business & Media pull-out section of today's Observer (12/10/08) which said...

"Kaupthing Edge and Heritbale customers will continue to access their savings accounts via Kaupthing's and Heritable's websites, says a spokesman from ING Direct UK, and receive the same interest rates they were being paid on their savings accounts. However, he adds: 'Over time this will be reviewed.'"

Alas, having not long bought in to a 1 year fixed term rate of interest, if that no longer continued to be honoured I would probably consider leaving ING.

airhostess

Anyone else having a problem transferrin money? The Kaupthing website is driving me potty. I can log in fine & access my account, but no matter what date I select for the withdrawal date, a message flashes up saying this is not a valid working day....

frankie

Now got the iNG e-mail. Still couldn't log on.

Phoned KE/ING. After security checks they sent me a new password via e-mail.

Now can log on.

Seems some corruption of data occurred during transfer of accounts.

Now just have to wait for the cash to arrive!!

altocumulus

I've had the email, but money still in the ether somewhere.

Slightly worrying, though,

[FONT=Verdana, Arial, Helvetica, sans-serif]assets in excess of £1 trillion and 85m customers.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]In addition ING Direct is a member of the Dutch Deposit Guarantee Scheme which covers deposits of up to €100,000 per customer (approximately £77,700). [/FONT]

Is there THAT much money in Holland if, heaven forefend, ING gets into financial stew?

glitter123

I still haven't received an email

Just logged onto my aco!!!! ok but the money I withdrew last Tuesday 7th, still hasnt arrived in my bank account.

Broadback

It seems to me that the interests rates of KE will be reduced, also the conditions have altered in as much as the accounts are no longer backed by the UK. Now the Dutch bank may be great, but if Iceland will/can not honour their commitments then maybe the Dutch won't. As regards the EEC there is no system in its "charter" to back up their banks or Euros. This means that each country has to move independently, they may make an agreement, but that is not covered by any EEC regulation or law.
Bearing these 2 facts in mind what happens if you have a fixed term account and wish to withdraw? Would you lose interest to date? I've tried to check up on the conditions of the term accounts, but they are no longer on KE's web site.

slopemaster

Dave2012 wrote: »

has anyone re-started making deposits to their KE (now ING) accounts?

now that ING have taken over, and presumably the rates are still unchanged (can't find evidence to the contrary) it seems a good place to start putting money away again, at least until they announce what they intend to do with the accounts regarding interest rates.

Thanks

Yes, I transferred money from KE instant access account to term account on Thursday - the moment I heard they had been taken over.
Today I have made a CHAPS transfer into OHs account, and as soon as it arrives that is going in fixed term account before the rates disappear

martint123

Yes, I'm going to open as many £1000 term accounts as my cash allows.
Their "break" rate for early withdrawal of the three year rate is better than their normal savings rate. ING also says they will honour the term rates as well.
I can only see interest rates dropping, so will be topping up

Broadback

I managed, after many tries, to get the site to accept a withdrawal. That was on Sunday and I set the withdrawal date for Monday. Now I know things are slow but my account does not show a withdrawal, is that the way they are playing it? If so then they must have modified their software methinks.

dach

I am also buying fixed term bonds, as interest rates fall they become a excellent way to keep your money in front of inflation(just).