Close to Safety Net

planemad

A family member is close to the 35k FSCS limit on an ICESAVE account.
From next month he needs to find another product to keep the risk lower.

Currently Kaupthing is top of the charts as well as A+L e-saver.

Would you in his position go to Kaupthing and keep all the money Icelandic or would you go to another countries banking institution to even further reduce the risk.

PS I know that Kauphing and ICESAVE are not linked and the chances of default are nearly nil but from a risk diversity point of view what would you suggest.

Many Thanks

cundall

i had 35k in Icesave now i have locked away 30k with icesave on a fixed term and just transfered in £1k in Kaupthing and will transfer more soon - no worries... (i hope )

something_girl

I have £30k in Icesave so decided not to got for KaupthingEdge, purely for the reasons you stated, probably with no grounding whatsoever, but hey ho. So I went for Birmingham Midshires instead, I opened a 1 year bond paying 6.88% and an esaver account.