ING - Kaupthing

jetsetwilly_2

HI

I have £5000 in a 1 yr fixed rate with Kaupthing.

Any idea what rate this will be under ING?

If they lower the rate,

a. will they still honour the interest rate up to the date of transfer to ING?
b. Will they allow customers to withdraw from the fixed rate?

I have continued to put money into Kaupthing account (without problem) as I am hopeful that the rate wil be honoured so trying to get in there quickly.

ING is just as safe as any of the UK banks, but with better rates. Maybe I am mad, but don't see the worry. If they did go bust, it is covered.

Bromley86

Follow the link on the KE homepage to see this:
http://www.ingdirect.co.uk/kaupthingedge.asp

IIRC, KE fixed deposits can be broken but there's a penalty. See your T&C.

jetsetwilly_2

I know there is a penalty, but how does the move to ING affect this?

Surely when you agree to 1 year at 7%, if the rate changes, you could then break it?

jetsetwilly_2

Ok, the link answers my q. Rates will be honoured. Thats great, many thanks.

KE website still advertises the same rates. Wonder if they will apply if you get in quick?