Kaupthing 35K Guarantee?

Joey122

Is kaupthing guaranteed for 35K?

Has anyone got a link to prove this once and for all?

I read recetly that Kaupthing is excluded from this guarantee !!!

Is this the case?

Aegis

Joey122 wrote: »

Is kaupthing guaranteed for 35K?

Has anyone got a link to prove this once and for all?

I read recetly that Kaupthing is excluded from this guarantee !!!

Is this the case?

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

Questions 10 and 11 should answer that one.

Joey122

You mean this?

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 https://www.fscs.org.uk.

Joey122

Has anyone confirmed that what they say on the tin is correct? ie - That they are registered with FSCS

Aegis

Joey122 wrote: »

Has anyone confirmed that what they say on the tin is correct? ie - That they are registered with FSCS

Yes

http://www.fsa.gov.uk/pubs/list_banks/2007/lob_jun07.pdf

martyn4764

http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=77209

Aegis

I think this clearly debunks that particular rumour

Joey122

I m not being funny but some companies use children companies, but in the event of a default their children do not have recourse to their parent.

Icesave is not on the list but Landsbanki is - Are you comfortable with that?

Same with Kaupthing - Its their parent on the list.

Do you see what I mean?

Meltdown_2

Joey122 wrote: »

I m not being funny but some companies use children companies, but in the event of a default their children do not have recourse to their parent.

Icesave is not on the list but Landsbanki is - Are you comfortable with that?

Same with Kaupthing - Its their parent on the list.

Do you see what I mean?

Actually, there does seem to be something slightly odd here ...
First - Icesave is on the list - as a trading name of Landsbanki Islands hf .
But Kaupthing Edge - which I thought was the trading name used by Kaupthing Singer & Friedlander - is not.
Can anyone throw some light on this?

getthemax

Meltdown wrote: »

Actually, there does seem to be something slightly odd here ...
First - Icesave is on the list - as a trading name of Landsbanki Islands hf .
But Kaupthing Edge - which I thought was the trading name used by Kaupthing Singer & Friedlander - is not.
Can anyone throw some light on this?

Have a look at the other two threads on this bank, and this article is quite informative.

http://www.fool.co.uk/news/your-money/2008/02/14/is-saving-with-icelandic-banks-safe.aspx

Meltdown_2

getthemax wrote: »

Have a look at the other two threads on this bank, and this article is quite informative.
http://www.fool.co.uk/news/your-money/2008/02/14/is-saving-with-icelandic-banks-safe.aspx

Thanks, but I have already done that, and had already read the article you link to.

The point I was making was not about the stability - or otherwise - of the Icelandic banks. It was about the information in the FSA register.

The "Motley Fool" article includes this :
"Kaupthing Edge, the UK arm of Kaupthing Bank"
but it goes on to group 'Icesave' and 'Kaupthing Edge' together in a similar fashion, which leads me to conclude that 'Kaupthing Edge' is a trading name (as I said earlier) rather than a separate company.

But either way, 'Kaupthing Edge' should be listed in the FSA register - and it doesn't appear to be ...