Kaupthing Edge Savings Rate Frozen For Now

bristolleedsfan

Fella wrote: »

Their Interest Rates page doesn't make any sense to me?

http://www.kaupthingedge.co.uk/OurProducts/InterestRates.aspx

Specifically, I'm not sure why the 36-month bond has a gross of 7.16%? Also, I think their definition of Gross:
Gross is the annualised rate before deduction of tax at basic rate (currently 20%)
...doesn't add up if you compare it to the AER? Unless I'm being dumb?

From what ive looked at, the product guide is not very clear, ive not read all the terms and conditions.

In order for 6.31 Gross to = 6.50 A.E.R then the interest would have to be paid monthly and added to the account where it will itself earn interest. ( similar to Barclays Tax Beater ISA.)

Whether the interest is actually paid monthly is not clear at first glance.

http://www.kaupthingedge.co.uk/Includes/PDF/tandcs.pdf

( see A ( q)

Steve_xx

ManAtHome wrote: »

Interesting/scary article here - Kaupthing get a mention near the bottom (as does Landsbanki) http://www.moneyweek.com/file/41437/credit-default-swaps-how-to-spot-the-riskiest-banks.html

I know IceSave are in the (UK) deposit protection scheme - are Kaupthing?

Yes they are authorised to operate in the UK and ar part of the FSCS. They started out as Singer & Friedlander Limited, an old UK merchant bank founded in London in 1907.

bristolleedsfan

ManAtHome wrote: »

Interesting/scary article here - Kaupthing get a mention near the bottom (as does Landsbanki) http://www.moneyweek.com/file/41437/credit-default-swaps-how-to-spot-the-riskiest-banks.html

I know IceSave are in the (UK) deposit protection scheme - are Kaupthing?

http://www.kaupthingedge.co.uk/Help/Faqs.aspx?id=03


10. Is my money safe?

Yes. Your money will be held by Kaupthing Singer & Friedlander Ltd. Furthermore, your deposit will be protected under the UK Financial Services Compensation Scheme, which can pay compensation (currently up to £35,000) where a firm is unable to pay claims against it. For further details refer to www.fscs.org.uk.

Mikeyorks

ManAtHome wrote: »

Interesting/scary article here - Kaupthing get a mention near the bottom (as does Landsbanki)

Definitely more scary than interesting! I was only musing last night why the top of the leader board for one year fixes were virtually all the 'foreign shores' outfits.
A profound read for anyone considering more than £35k aggregate .. in those mentioned?

noh

bristolleedsfan wrote: »

From what ive looked at, the product guide is not very clear, ive not read all the terms and conditions.

In order for 6.31 Gross to = 6.50 A.E.R then the interest would have to be paid monthly and added to the account where it will itself earn interest. ( similar to Barclays Tax Beater ISA.)

Whether the interest is actually paid monthly is not clear at first glance.

http://www.kaupthingedge.co.uk/Includes/PDF/tandcs.pdf

( see A ( q)

Interest is paid monthly see paragraph 16.1.1 and 16.1.2

Nigel

bristolleedsfan

noh wrote: »

Interest is paid monthly see paragraph 16.1.1 and 16.1.2

Nigel

That answers post no 9 as a matter of fact. :j

oldfella

Interesting/scary article here - Kaupthing get a mention near the bottom (as does Landsbanki) http://www.moneyweek.com/file/41437/...est-banks.html

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having just read this I reckon I will forget the application to Kaupthing

sho_me_da_money

If i was to take out an ISA with a company - a mini cash ISA - could i also take out a second min CASH ISA with another provider? or does the second one HAVE to be shares?

KTF

You can only put money into 1 mini cash ISA per tax year. You can open a second one and transfer in the contents of the first one but you cant open 2 and put 3k in each.

Fella

oldfella wrote: »

Interesting/scary article here - Kaupthing get a mention near the bottom (as does Landsbanki) http://www.moneyweek.com/file/41437/...est-banks.html

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having just read this I reckon I will forget the application to Kaupthing

I wouldn't necessarily rely on that article. For a start it says "I haven’t mentioned the ex-building societies yes just because they are in a group of their own. Northern Rock doesn’t have CDS prices and new savers aren’t protected beyond the legal norms, so obviously I wouldn’t recommend putting your savings there."

If the author can't get even simple facts right it doesn't do much for my faith in him.