Icesave - please think before you apply

Leanne200

Dziekanowski wrote:

Putting aside the ethical issues and the rights or wrongs of using the whaling issue as a factor to determine where to save your money, does anyone here know the next best 'clean payer' on the market after the Icesave account?

This is a very good question, does anybody know? I have tried looking but I haven't had much luck!

I know it might sound a bit stupid but I am a bit dubious about putting my money into Icesave, as I cant understand how/where they profit from paying out this kind of interest into a savings account!

someone

Leanne200 wrote:

I know it might sound a bit stupid but I am a bit dubious about putting my money into Icesave, as I cant understand how/where they profit from paying out this kind of interest into a savings account!

They are just making less of a profit than other banks. Less well know banks tend to have to use higher rates to attract customers. They probably will still make money with the BACS clearing cycle and other trick all banks use to make more money.

Also, i don't want to sound like I'm telling you what to do, but your signature says you still owe £1549.36 to virgin Credit Card. Really you should pay that off first before saving.

Leanne200

FYI I have a savings account opened by my parents, and funded by my parents/grandparents since I was born, so I am looking to put it into something more worthwhile than a Halifax Liquid Gold account, which it currently is (used to be the little Xtra club).

As I have access but am trusted not to touch it I dont think they would be best pleased if I paid my debts with it!

But thanks for the other info anyhow :beer:

gt94sss2

Dziekanowski wrote:

Putting aside the ethical issues and the rights or wrongs of using the whaling issue as a factor to determine where to save your money, does anyone here know the next best 'clean payer' on the market after the Icesave account?

ICICI who pay 5.15% AER

Regards
Sunil

molly_mandy_2

I imagine there is a Director high up in the penthouse suite of Icesave scratching his head wondering if, with their connections to Iceland, maybe they have chosen the wrong month to launch this new account!

If you read the news reports from yesterday (google - news- whaling in Iceland - by date) there is widespread concern and protests worldwide, including the EU, on Iceland's decision to return to whalehunting. The newspapers in Australia make particularly interesting reading.

So, thankyou Markw5. You have opened my eyes wider (and who knows, maybe the eyes of other posters too).

Paul_Herring

gt94sss2 wrote:

Dziekanowski wrote:

Putting aside the ethical issues and the rights or wrongs of using the whaling issue as a factor to determine where to save your money, does anyone here know the next best 'clean payer' on the market after the Icesave account?

ICICI who pay 5.15% AER

I was torn between 1) pointing out others' experiences with ICICI or 2) parodying this thread. I settled for both:

1) http://forums.moneysavingexpert.com/showthread.html?t=279094

2) But India supports Capital Punishment - how can you use a bank from a country that supports legally mandated murder?!!?!?!

lisyloo

I have had no problems at all with ICICI bank.

I think that legal murder of people who have committed terrible crimes is a lot more justified than killing whales.

I think it's up to everyone to make their own decisions but it's good to bring these things to peoples attention.
I don't think that Icici bank are responsible for capital punishment and Icesave are not responsible for whaling in the same way that you and I are not responsible for bad things that the UK government does.
How would you feel if you lost your job in something completely irrelevant because your customers did not agree with the UK invading Iraq in a illegal war.

People who live in glass houses shouldn't throw stones and in the UK our government is currently responsible an illegal war and acquiesence in human rights abuses at Guantanemo bay.

Dziekanowski

Paul_Herring wrote:

I was torn between 1) pointing out others' experiences with ICICI or 2) parodying this thread. I settled for both:

1) http://forums.moneysavingexpert.com/showthread.html?t=279094

2) But India supports Capital Punishment - how can you use a bank from a country that supports legally mandated murder?!!?!?!

As far as I can make out, humans aren't an endangered species. Capital punishment isn't going to wipe out an entire species.

Dziekanowski

lisyloo wrote:

you and I are not responsible for bad things that the UK government does.

You and I absolutely are responsible for the bad things that the UK Government does. You and I put them there. You and I have the power to influence them. You have your vote to exercise. You can lobby politicians. You can protest. You can campaign. You can boycott. The list goes on.

Landsbanki have the power to influence the government in Iceland and I have the power to influence mine.

climbgirl

sham63 wrote:

So you're “dead against the resumption of whaling in Iceland” and say that "there are far more effect and direct ways of raising your voice and protesting about this".

So, what are you doing?

Gave some money to these guys for a start.... http://weblog.greenpeace.org/iceland/

Also worked on a committee that tried to put a lot of pressure on the International Whaling Commission when they voted this year to reverse the anti-whaling decision. It's not a UK organisation though.