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Kaupthing 6.5% with £100 (down from £1000)

anticlaus105
anticlaus105 Posts: 475 Forumite
Part of the Furniture 100 Posts Name Dropper
in Savings & investments
Martin says the Kaupthing account will be dropping it's credit limit for 6.5% from £1000 to £100.
Kaupthing Edge* which pays 6.5% AER as long as you have over £1,000 in the account. This is dropping to £100 from Wed 4 June, so if you don't quite have the £1,000 come back then


I just applied the other day for this account. Will this change be applied to all accounts or just to new applications from 4th June?

Comments

  • ~Chameleon~
    ~Chameleon~ Posts: 11,956 Forumite
    10,000 Posts Combo Breaker
    According to their website the initial deposit and minimum balance you need to keep in the account is still £1000 :confused:

    Will be keeping an eye on it to see if it changes today.
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Baldur
    Baldur Posts: 6,565 Forumite
    See https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=171631 for details
  • ~Chameleon~
    ~Chameleon~ Posts: 11,956 Forumite
    10,000 Posts Combo Breaker
    Baldur wrote: »
    See https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=171631 for details


    Well that says something completely different again!!!! :rolleyes:

    Also, for the 1yr fixed term 7.01% acc you'd be better off going to Icesave.

    Balance between £1 and £100 earns 0.00% interest and fixed accs only for exisiting customers only!!! :rolleyes:
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Baldur
    Baldur Posts: 6,565 Forumite
    ;)
    ~Chameleon~ wrote: »
    Well that says something completely different again!!!! :rolleyes:
    It does?

    "..minimum investment will be reduced to £1 from £1K paying 0.00%, £100 - 6.31%." Remember that's gross rate, not AER.
  • ~Chameleon~
    ~Chameleon~ Posts: 11,956 Forumite
    10,000 Posts Combo Breaker
    I was referring to minimum investment of £1 whereby it was stated as £100 elsewhere.

    Anyway, that's all besides the point as Kaupthing have yet to change their website to reflect this new info ;)
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • ~Chameleon~
    ~Chameleon~ Posts: 11,956 Forumite
    10,000 Posts Combo Breaker
    It has just updated! :D
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Baldur
    Baldur Posts: 6,565 Forumite
    ~Chameleon~ wrote: »
    I was referring to minimum investment of £1 whereby it was stated as £100 elsewhere.
    Martin's quote says "...which pays 6.5% AER as long as you have over £1,000 in the account. This is dropping to £100 from Wed 4 June" - no reference to minimum investment, merely that interest is earned from £100. ;)

    eMoneyfacts is aimed at Financial Advisers, so I would be extremely surprised if their information is incorrect.
  • trashcan_2
    trashcan_2 Posts: 309 Forumite
    http://www.kaupthingedge.co.uk/OurProducts/KaupthingEdgeSavingsAccount.aspx
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