Kaupthing - initial deposit/minimum balance?

gelato_cat

Hi all

Can anyone who's opened a Kaupthing variable rate account tell me when I need to make my initial deposit please (I spose what I'm asking is, what is the minimum balance? I can't find this anywhere on their website/T&Cs)?

I know I don't get any interest until I have £1000 in there and don't have enough at the moment, but would like to open the account asap so I can move the funds in when I have them in a week or so.

ISTR that when I opened my Icesave account I had to transfer £250 in straightaway - was just wondering if this was the case with Kaupthing or if I can leave it with a zero balance for a little while.

TIA

Suze

1echidna

I left mine for a little while before transferring money in. I made sure password, etc was working and that I had Internet access to the account before depositing first £1,000. I hope that helps.

spalding

I was told when asking the same question yesterday £1, but you won't earn interest until £1000 is in there

whu

I did the same as 1echidna but it might be an idea to transfer £1 just to make sure the account is working

mjmal51

whu wrote: »

I did the same as 1echidna but it might be an idea to transfer £1 just to make sure the account is working

I transferred £10 in first just to make sure and check the number of working days the transfer took, which was 3, transfer on Mon, in account by Weds.