Kaupthing Rate reduced by 2%

rail.link

I requested a withdrawal of the whole amount yesterday. The transaction was reflected immediately on the account, leaving a zero balance. I don't know whether the money has actually gone out by BACS today or not.

Anyway, they can treat the withdrawal as notification that the account is to be closed.

pieman_71

Switched most of my KE savings to their fixed rate on the day they dropped (thanks to the email from here) . . . sounds like I need to move the rest out and once the fix expires the rest will follow suit.

MumofThree

pieman_71 wrote: »

Switched most of my KE savings to their fixed rate on the day they dropped (thanks to the email from here) . . . sounds like I need to move the rest out and once the fix expires the rest will follow suit.

Sorry to disappoint you pieman, but KE have not been offering any new fixed rates since they were taken over by ING. It may appear to go through but will not be honoured. Personally I'm moving all mine out ... had a nightmare month waiting for missing funds to arrive in my linked account!

LongTermLurker

gogsboy wrote: »

Is it not just a matter of time before all the accounts that people jump to will also drop by similar magnitude?

If not, is it not bad for credit rating opening various accounts and the like or does it not matter two hoots

There are a couple of high fixed rate instant access accounts still in use.

Also, simply opening a savings account wouldn't affect your credit rating because you aren't applying for credit - you're funding them! Searches wouldn't be done.

Masomnia

isofa wrote: »

Anyone closed it in the "correct manner". I.e. requesting a closure, having the interest made up to date and a full balance transfer then out to the nominated account?

I requested this by phone on Friday. The nice lady on the other end said she couldn't give me a firm date for when I'd recieve the money, though. I'll let you all know how it goes.

dealseeker

dealseeker wrote: »

Same happened to me. Will see if appears on Monday to see it may be due to non-processing on non banking days at weekend.

There was still no sign of transfer tonight. I made request again online and this time it went through to a screen that confirmed payment would be made to my linked account. Not sure what went wrong the first time but appears I was not the only one to have problems with their process. :rolleyes:

gogsboy

LongTermLurker wrote: »

There are a couple of high fixed rate instant access accounts still in use.

Also, simply opening a savings account wouldn't affect your credit rating because you aren't applying for credit - you're funding them! Searches wouldn't be done.

Cheers for that, obviously I thought that was the case but logic seems to go out the window....as in my book applying for credit (cards) and whether you use them or not are two very different things.

Logic tells me if your only covered for x amount in a savings account then tough cookie if you chose to risk more....however that also goes clean out the window...

Who are the ones still offering fixed rates with instant access?

gogsboy

Baldur wrote: »

The funds from my KE savings account will be earning 6.3% fixed until next October in my Egg FR savings, which is more than enough reason to move them as far as I'm concerned.

How do you get such an Egg account as my one seems to be down in the 4% zone, is this one where you are tied away for a term with no withdrawls

Masomnia

gogsboy wrote: »

How do you get such an Egg account as my one seems to be down in the 4% zone, is this one where you are tied away for a term with no withdrawls

Sorry but the account is no longer available

Baldur

gogsboy wrote: »

How do you get such an Egg account as my one seems to be down in the 4% zone, is this one where you are tied away for a term with no withdrawls

As Masomnia said the fixed rate offer is no longer available, having been withdrawn on 10th October. There are no withdrawal conditions/penalties.