Kaupthing Edge Savings Accounts to become ING Accounts by 8th Feb 09

exel1966

[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Haven't see this posted here yet, but just had an E-mail from ING advising the following ;-[/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]Further to our previous communication, I am delighted to inform you that the transfer of your savings from the Kaupthing Edge systems to ING Direct systems will take place over the weekend of 7- 8 February 2009. [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Please look out for a letter that we will send you later this week with further details of the transfer, including some small changes to your terms and conditions.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]As part of your transfer package, we look forward to offering you an exclusive bonus rate of interest on your ING Direct Savings Account. We’ll send you more information about this offer, including how to accept it.[/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]When will the transfer happen?[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Your savings will be transferred to ING Direct’s systems over the weekend of [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]7 – 8 February 2009. Please note that you will be unable to access your [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]account(s) from Friday 6 February until Sunday 8 February inclusive. This is to ensure that the transfer goes smoothly. Once the transfer is complete you’ll be able to access your accounts via our award winning website and UK call centres. [/FONT]
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]About your ING Direct account(s)[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]As part of the transfer process we’ll be giving you a new ING Direct Savings Account number so that you can access your savings at your own convenience. We’ll send you your new account number(s) and sort code shortly before the date of the transfer.[/FONT]

• [FONT=Verdana, Arial, Helvetica, sans-serif]Any balance in your Kaupthing Edge Easy Access account – and any interest [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]accrued up to the date of the transfer – will be transferred to ING Direct’s[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]systems and will become an ING Direct Savings Account. [/FONT]

• [FONT=Verdana, Arial, Helvetica, sans-serif]If you hold a Kaupthing Edge Fixed Term Deposit Account(s), this will become [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]an ING Direct Fixed Rate Savings Account. We will honour your existing rate of[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]interest for the full term of the Fixed Term Deposit account(s) until maturity.[/FONT]

canaria_2

Yes but what's the exclusive bonus rate of interest going to be??

atypical

I think it will be the the 2% fixed rate bonus for one year that they are currently offering anyway.

Though that doesn't seem very 'exclusive' so perhaps it'll be more!

adaadat

Although I haven't yet received the same e-mail from ING, I had thought my Kaupthing Edge Savings acc. had been, already, officially trasferred to ING, alongside ING's overseeing of Kaupthing's online service. Even though I still log in to Kaupthing, to view my savings account, I've been greeted, for a while, with an ING 'welcome' message and presumed, apart from eventually being moved over to an ING log-in procedure, that I was now an ING customer.

If I haven't yet become an official ING customer, have I continued to receive the 6.50% interest rate I signed up with?

I don't fancy ING's measly 4% (inc. 2% 1-year bonus), for new ING customers.

Is there anywhere that lists the current interest rates of U.K. bank/building society accounts?

canaria_2

Check your e mails, the rate has already dropped twice, in November and December.

withnell

But so has every other instant access savings account!

adaadat

Now that I've poured through my e-mails, I have, indeed, found one indicating a reduction in the interest rate, but that was back in mid-November with nothing, since.

Is there a site which shows how rates have changed over time, for most U.K. accounts? It would help with determining bank reliability: which haven't offered the best rates because they haven't taken undue risks.

erikcash

I received the same email today. So time to log back into my K&E account where I just realised no interest has been paid since 30/11/08 on my savings account. Anyone else having the same problem?
What happened to the interest payment on the 31/12/08?

sufisu

I've just checked my Kaupthing account and interest has been added to my account....0.97% net

LesU

adaadat wrote: »

I don't fancy ING's measly 4% (inc. 2% 1-year bonus), for new ING customers.

Is there anywhere that lists the current interest rates of U.K. bank/building society accounts?

Well, one place you could view your KE interest rate is on your KE account's web page. Just above the credit/debit entries. Mine is saying 3.55% AER at the moment.
I've got a non-fixed rate savings account with them, and I was paid my interest on Dec 31st, and it came out approx. 3.2% net. They haven't put the interest on a new page by any chance?

bjorn_again

Just had a letter from Scottish Widows - Previous Rate 3.1%, New Rate 2.1% - nobody but nobody is offering anything remotely like last years rates. We all have to live with it. It will turn around, but not any time soon.