Kaupthing Edge Savings Rate Frozen For Now

macgyver

I am a bit confused!!
It says minimum deposit of £1000, so how is it possible to deposit £1 or in other words how are they acception £1 deposits???

masonic

macgyver wrote: »

I am a bit confused!!
It says minimum deposit of £1000, so how is it possible to deposit £1 or in other words how are they acception £1 deposits???

Probably because they mean minimum balance.

Stompa

macgyver wrote: »

I am a bit confused!!
It says minimum deposit of £1000, so how is it possible to deposit £1 or in other words how are they acception £1 deposits???

You don't earn any interest if you have less than £1000 deposited.

bdon

But it is still possible to conceive of a default (or a combination of defaults) so big as to be beyond FSCS's ability to pay compensation up to our limits. The FSA's proposals significantly reduce the probability of this happening, but they cannot completely eliminate it.

URL]http://www.fscs.org.uk/consumer/key_facts/limitations_of_the_scheme/[/URL

masonic

bdon wrote: »

But it is still possible to conceive of a default (or a combination of defaults) so big as to be beyond FSCS's ability to pay compensation up to our limits. The FSA's proposals significantly reduce the probability of this happening, but they cannot completely eliminate it.

URL]http://www.fscs.org.uk/consumer/key_facts/limitations_of_the_scheme/[/URL

A collapse on that scale would probably render UK currency pretty worthless anyway, wouldn't it?

benjdr

So how has everyone deposits gone? Smoothly?
I'm probably going to open one of these accounts later tonight, since I can't find anyone telling me not to.

Where does it state their rate is not going to drop in line with this months base rate drop?

oscarhugo

oscarhugo wrote: »

...see whether the £1 on-line transfer from the (non-linked) Halifax a/c will be credited or sent back with its tail between its legs...

Well, the £1 from the non-linked Halifax a/c HAS duly fetched up in the Kaupthing account this afternoon... Hopefully the more substantial transfer from the Coventry will appear on schedule tomorrow.

benjdr

There we go, I've applied. Now i'll presumably wait for the request for a bank statement. I'm slightly confused by the request to know how much the first deposit is going to be. Why would they want to know this?
Anyway, My first deposit is going to be £1 like the rest of you!

Stompa

benjdr wrote: »

I'm slightly confused by the request to know how much the first deposit is going to be.

A lot of banks seem to ask for that info, I've never stuck to the answer I've given.

oscarhugo

oscarhugo wrote: »

Well, the £1 from the non-linked Halifax a/c HAS duly fetched up in the Kaupthing account this afternoon... Hopefully the more substantial transfer from the Coventry will appear on schedule tomorrow.

....and this morning, of course, when I try to check, the Kaupthing Log-In part of the site is under "Routine Maintenance".