Kaupthing Edge - is it really so good? Worries about transfer process.

Baldur

SusyRahman wrote: »

I've heard of banks (HSBC) who penalise you by not paying interest for the month in which you make any size of withdrawal.

Does this happen at Kaupthing Edge?

No - you just need to maintain a balance of £1,000 to continue to receive interest at the highest rate see HERE.

I'm thinking of saving £35k but would need to withdraw some of this every quarter. Is this the best savings account for me?

That's for you to decide.

Neonoptic

Sorry for bumping up this topic.

I'm just looking into opening an account and have read in the terms and conditions that they charge £20 for a 'CHAPS' withdrawal from the Savings Account to the Linked
Account.

Does this mean if I want to withdraw money from the account I have to pay £20 each time? I'm not sure what CHAPS means :embarasse

marshall2k

CHAPS is a fast transfer that is completed the same day and so you pay for the privilege. BACS is the free withdrawal method and money hits the account on the third day.

AddictedMoneysaver

I'm trying to set up an account with these guys and want to follow the £1 in-out method detailed here before sinking in all my dosh, but on the set-up screens it's only giving me the option to add £1,000-£9,999 and above. How do I only add a quid??? Bit worried to carry on incase I get tied into setting it up with £1,000

sloughflint

You send from your external account.

The_Fiddler_2

AddictedMoneysaver wrote: »

I'm trying to set up an account with these guys and want to follow the £1 in-out method detailed here before sinking in all my dosh, but on the set-up screens it's only giving me the option to add £1,000-£9,999 and above. How do I only add a quid??? Bit worried to carry on incase I get tied into setting it up with £1,000

I have set an account up and noticed that too, but on closer inspection it states how much APPROXIMATELY are you going to add. I too am going to start off with £1, so the first option is the nearest approximation to that