How much can you save?

paulboy83

Dear oh dear, I go away for a few days and all hell breaks loose. It looks like I'm not earning any interest on my isa at the moment, which is the thing that hurts the most. I'm in lucky to be in the position where I do not need access to my money in Icesave for a while so am able to sit tight and await a lovely big repatriaton style cheque I'm one of the luckier ones I guess, and I hope those of you who had money in icesave you were going to use manage to get by in the short term until the money arrives.

My only problem now is where do I put my ISA when I do get the cheque... Decisions, decisions!

purplevamp

EagerLearner - I remember reading on this post a while back that you were thinking of moving your ISA to Icesave (like me) did you do this, and if you did, is it showing in your account? I did mine on 14 Sept, it was closed in my old account on 30 Sept but isn't showing. :eek: Lloyds can't reverse it or stop the cheque so I'm stuck until it's all sorted.

Masomnia

Got myself in the !!!! again...

I have some money in transit from KE to my current account Which I desperately need this week! Grrrrrr. I'm so silly.

moneysavingwannabe

Hi,

I've just got an email from them.

Have you?
If not I can copy some of it on for you.

moneysavingwannabe

Here is some of the email


What has happened?
Following recent announcements by the Icelandic Government, the UK authorities have taken action to protect savers funds. ING Direct has taken over the retail savings balances and customers from Kaupthing Edge and Heritable Bank in the UK.

What about my money?
All your savings are safe and are now with ING Direct in the UK and your accounts will continue to operate in the same way as before.

Is my money safe?
Yes. Your savings are with ING Direct which is the world’s leading direct savings bank and part of the Dutch based ING Group which is one of the world’s largest banks with assets in excess of £1 trillion and 85m customers.
In addition ING Direct is a member of the Dutch Deposit Guarantee Scheme which covers deposits of up to €100,000 per customer (approximately £77,700).

Why was I not able to access my account?
Following UK Treasury action there was disruption to your normal service.
We are sorry for any inconvenience, and we are committed to ensure you have full access to your savings at all times.



So I need to use this money to pay off 0% cc next month do you reckon I should try and transfer it now.....or leave a few days??

Seems it will be ok but not sure if everything is now transferring as it should be?? Anyone else moved money and it has actually gone where it should do??

Masomnia

Thanks for the info on the email. I believe there have been delays in money being transferred, quite unsurprisingly, but that it is now beginning to trickle through. I have a thousand on the way to my current account, transferred on the 9th, so in theory it should arrive tomorrow. Fingers crossed!

I think I shall leave the rest in for the time being, the amount I don't desperately need, and wait for things to calm down before trying to transfer that.

moneysavingwannabe

Hi,

I only have 3,000 or so in there but will need it v soon.
I'm thinking i might try transferring £10 to see if it gets to me!!
Before sending the rest??

LucyTheDwarf

I hope you receive your money alright, Masomnia. I set up two payments to test the system. One to my KE account, and one back to my current account (just a quid each). I use the KE money to fund my Halifax Regular Saver, so I'll need it the beginning of next month. If the pound works, I'll transfer enough for the reg saver I think...

I've been looking around for an account to replace Kaupthing. All the best buys have something I don't like about them. I can't remember what was wrong with Intelligent Finance, but there was something I didn't like. The AA Internet Saver, I don't like the fact that the interest can't be paid into the same account, and that there will be 3 working days until my interest gets to my linked account. So, by the time it's got to my current account, and I've sent it back to the AA account, I've lost over a week's interest. ING Direct, I don't like the fact that it's funded by direct debit, and initial funding is by cheque. ICICI also requires a cheque to fund it - I went green on my current account, so no chequebook. Bradford & Bingley Internet Saver Issue 3 looks fine at first glance, but looking through their "products no longer available" list of rates, it appears that all e-savers / internet savers revert to 5.3%. Although I'm happy to monitor the rate, and switch if it drops below an acceptable level, I am not happy that this seems to be the norm with B&B.

Anyone got any recommendations for me? As you might have guessed, I'm very fussy!

Masomnia

I had exactly the same problem when I was trying to find a new account last week. I snapped up Egg's 6.3% fixed for a year account a few days ago, which they've now withdrawn, but replaced with a variable 6.55%, so it's worth a look. I'm pretty certain that you won't like that it's annual interest though.

Other than that I'm not sure! I really liked the B & B account, though it did take time to transfer out by BACS, and you do have to keep an eye on the rate. I only closed it because I thought the rate would fall much quicker than it actually did when they were taken over by Santander. So maybe that's the way forward for you?

LucyTheDwarf

Masomnia wrote: »

I had exactly the same problem when I was trying to find a new account last week. I snapped up Egg's 6.3% fixed for a year account a few days ago, which they've now withdrawn, but replaced with a variable 6.55%, so it's worth a look. I'm pretty certain that you won't like that it's annual interest though.

Yup, annual interest is a huge no no for me! I might go for it anyway, though. I'm not desperate yet, while KE is still operational.

Masomnia wrote: »

Other than that I'm not sure! I really liked the B & B account, though it did take time to transfer out by BACS, and you do have to keep an eye on the rate. I only closed it because I thought the rate would fall much quicker than it actually did when they were taken over by Santander. So maybe that's the way forward for you?

Perhaps. In theory, I'm happy to tart... I just don't like the way they do it. I mean, I'm obsessive to the point of paranoia, I would log onto the website daily to check everything.

It seems there is a real gap in the market for an account that meets my approval!!! There should be more Lucy-ish accounts around.

I'm sure I'll end up with the Egg account, in the end... but I shouldn't have to! :rotfl: