Kaupthing Account Opened... now what?

fablad75

My online Kaupthing account is up and running too. I deposited £1 and it's there - I'm now withdrawing it and will be checking that it arrives safely in my Nationwide account before I move my savings from ICICI.

So far, so painless.

Organic12

Would the money in my ICICI account have to pass back to my nominated account before I can send it over to Kaupthing?

I reckon that's around 8 working in days in all? We're talking my next house deposit so I'd loose a fair bit of interest over that time. Haven't worked out if it's worth it.

neilp

Yes it would - ICICI only allow withdrawals to the nominated account. Because of the potential loss of interest in the transfer, I have not moved what is in my ICICI account, but started putting all savings into my Kaupthing account from now on. I am not sure whether that is the best thing to do - it probably makes little difference.

Wsb5tails

I've just registered to open an account but was surprised there is no mention of Money Laundering I.D checks, it that just a UK thing?

neilp

I am sure they have to do those checks. Initially they required those opening accounts to send them a bank statement. The alternative was subsequently offered of sending a cancelled blank cheque. More recently they seem to have scrapped this requirement altogether, so I assume they do identity checks electronically.

fablad75

Maybe they don't need it because you're required to link it to a 'proper' bank account, and they're assuming that all the proper checks have already been done?

Wsb5tails

Has anyone else had problems with the first time they sign in to Kaupthing. I've followed the instructions in the letter but I keep getting the message " an error has ocurred"

10_66

Nope. Just entered details that were requested when setting up account, and all went fine. You need your email address, the memorable word and your password. The initial password was sent by post, and then I changed it after logging on for the first time. It may be that the memorable word is case sensitive (I don't know for sure), so make sure you enter details exactly as you set them up.

marshall2k

I'm having the same problem this morning but on telephoning the customer service line they told me that there is a problem with the system the moment.

Wsb5tails

marshall2k wrote: »

I'm having the same problem this morning but on telephoning the customer service line they told me that there is a problem with the system the moment.

thanks for that cuz I know I was putting the right info in