Kaupthing Edge T&C Question

char1iecha1k

Hi,

I am looking to move my savings to Kaupthing Edge however I read the quote below in their FAQ on their website. What does this actually mean if they were to change? To me it means that your savings will be protected to the same amount but under a different scheme i.e. the European passport rather than the UK FSCS scheme (discussed here http://www.moneysavingexpert.com/savings/safe-savings#foreign )

Any help / advise /suggestions / comments would be appreciated

12. I see in the terms and conditions that my deposit might, in the future, be with Kaupthing Bank, and not Kaupthing Singer & Friedlander Ltd. What would this mean for me?

It would have no real effect. You would remain a Kaupthing Edge customer and your account number, details and the call centre contacts would not change. Your money would remain safe; and remain protected up to exactly the same amount, by the Financial Services Compensation Scheme (or its EEA equivalent). We will also notify you when or if this happens and you become a Kaupthing Bank customer.

LardyCake

Try using the search facility (top right of page - enter search text in box where it says, click the "Forums" radio button, click the "Search" box) - this has been discussed to death already

char1iecha1k

LardyCake,

Thank you for taking the time to reply, I have done as you suggested and looked through the forums but have not found any info relating to this particular condition. Perhaps its my poor search technique, do you have any direct links or can you suggest some search terms.

Thanks

Meltdown_2

See :
http://forums.moneysavingexpert.com/showthread.html?t=834605
from post 20 onwards.

char1iecha1k

Thanks meltdown, I read it but I am unsure whether this is the same thing? Apart from bickering about trolls they mention the account being "novated" is this the same thing to what I am referring to?