Welcome Landsbanki!

si1503

ReportInvestor wrote:

Midshires' rate includes a 12 month bonus & has no guarantee.

So IceSave is doubly attractive by comparison for those looking for a medium term account to autumn 2009.

So? After 12 months you'd just switch your savings to the current front runner. In the short-run I see no advantage of this over the BM I-net savings account, and with the BM there is no min bal to start reciveing the 5.2% RoI.

ReportInvestor

That's a perfectly good approach for a pure tart such as yourself. But I'd expect you to need to take action inside the 12 months you mention. Why would you expect BM to keep their teaser rate going for so long?

Many people, e.g. those who hung onto ING because they liked the way it operated, might welcome the chance to try out another account that they know won't cost them an arm and a leg if they don't get round to switching on the dot.

I did, after all, specifically say - in the piece you quoted - that IceSave would be attractive for those with an eye on the medium term beyond a year.

The boards are visited and used by both tarts & savers ( as well as others ) and we make use of the threads in different ways.

The £250 minimum balance could be an issue.

Bisoy

I received my welcome pack today and the account number last saturday. So just waiting for my log in details. All letters has been personally signed.

TypeR

Question for you guys, have you put in MORE then £35k in to your ICESAVE accounts?

I'm concerned about the whole collapse thing, this is pretty much every penny I have in the world, and I'll need it to buy a house one day.

ashcarrot

I've got 45k in one of my banks so far (BTW you need to wait 8 days before you can fund future deposits on ICESAVE AFAIK) but i'm not going to go above £50k in any one account. Although this is not going to collapse (has any banks collapsed in the last 30 years?) its obviously a major concern to you so open this account with 35k and another leading account for the rest. This way your more secure about other bnaking problems (Identity Fraud, Customer Service Issues etc.) too.

Bisoy

I'm sure nobody has done that yet. We need to test the waters first. But I am pretty confident that they won't just collapsed like that.

lisyloo

has any banks collapsed in the last 30 years?

Yes it was called BCCI and was caused by a rogue trader called Nick Leeson.
I think it was 1991 but I'm not certain.
I think the risk is negligeable but it's still there.

TypeR

lisyloo wrote:

Yes it was called BCCI and was caused by a rogue trader called Nick Leeson.
I think it was 1991 but I'm not certain.
I think the risk is negligeable but it's still there.

mmmm, Mr Leeson, lives about (well parents live) 10 mins from my house.

Optimist

lisyloo wrote:

Yes it was called BCCI and was caused by a rogue trader called Nick Leeson.
I think it was 1991 but I'm not certain.
I think the risk is negligeable but it's still there.

Methinks your mixing BCCI with Barings. Nick Leeson had nothing to do with the BCCI collapse

si1503

ReportInvestor wrote:

That's a perfectly good approach for a pure tart such as yourself. But I'd expect you to need to take action inside the 12 months you mention. Why would you expect BM to keep their teaser rate going for so long?

Many people, e.g. those who hung onto ING because they liked the way it operated, might welcome the chance to try out another account that they know won't cost them an arm and a leg if they don't get round to switching on the dot.

I did, after all, specifically say - in the piece you quoted - that IceSave would be attractive for those with an eye on the medium term beyond a year.

The boards are visited and used by both tarts & savers ( as well as others ) and we make use of the threads in different ways.

The £250 minimum balance could be an issue.

I'm not 100% clued up on that terminology.

FYI anything over 1k that I can afford to put aside is going into stocks and shares, so I probably will want to hold under £250 for a fair bit of the time throughout the year. Give me a £1> 5.2% RoI and I might show a bit more enthusiasm.

Its also important I feel to learn from the teething problems associated with other international banks entering the UK market, hence showing some caution in the early stages of their operation. Certainly I feel safer putting my money into savings with a very well established and reptuable UK Bank/BS, than an relative 'unknown' situated offshore.