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Anyone with Kaupthing or Icesave?

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Old 18 October 2008, 11:38 AM
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Petem95
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Question Anyone with Kaupthing or Icesave?

Anyone got an account with either of these?

Annoyingly I had money with both, but I'm a bit in the dark with whats going on!

With Icesave it seems we're waiting for the compensation scheme to kick in, but I've not had anything in the post letting me know whats going on?

With Kaupthing savings are being moved to ING, but have they been already, or does this mean they will be? I can get to a login screen but can't remember my login details

Anyone shed any light on either of these?
Old 18 October 2008, 11:55 AM
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coolangatta
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Originally Posted by Petem95
Anyone got an account with either of these?

Annoyingly I had money with both, but I'm a bit in the dark with whats going on!

With Icesave it seems we're waiting for the compensation scheme to kick in, but I've not had anything in the post letting me know whats going on?

With Kaupthing savings are being moved to ING, but have they been already, or does this mean they will be? I can get to a login screen but can't remember my login details

Anyone shed any light on either of these?
Kaupthing Edge savings have been moved to ING, so no problems

Click below

High Interest Savings Accounts - Kaupthing Edge Saving and Online Banking

Last edited by coolangatta; 18 October 2008 at 12:00 PM.
Old 18 October 2008, 12:04 PM
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Petem95
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Originally Posted by coolangatta
Kaupthing Edge savings have been moved to ING, so no problems

Click below

High Interest Savings Accounts - Kaupthing Edge Saving and Online Banking
Will have to try and find that password then! Thanks!
Old 18 October 2008, 12:12 PM
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Petem95
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Result! Logged in and they're still paying 6.55% AER on the account as well!

Thought that would have been cut to about 4% with ING taking over the deposits!
Old 18 October 2008, 12:58 PM
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Suresh
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Originally Posted by coolangatta
Kaupthing Edge savings have been moved to ING, so no problems
Maybe, maybe not.

ING's shares fell by 30% on Friday as shareholders got out fearing that ING may get bailed out by the Dutch Government this weekend ..... Fundamentally ING is a reasonably sound company, however their potential impairments on bond positions should be of concern to their investors.

HTH.
Old 18 October 2008, 01:02 PM
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GlesgaKiss
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You should recieve a letter over the next month regarding icesave. I wouldn't expect it straight away.
Old 18 October 2008, 01:06 PM
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john banks
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They said on Moneybox (R4) that Icesave fixed term bonds would also attract an interest payment when due (but no further interest payments will be made for regular accounts). I'm expecting to receive my money half way through the 1 year term, presumably it will be pro-rata.
Old 18 October 2008, 01:09 PM
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boxst
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I have my savings with Kaupthing and can log in and add/remove funds.

I have my mortgage and now savings with ING and they seem to be okay. I hope that the alledged bailout from the Dutch government isn't required.

Steve
Old 18 October 2008, 01:10 PM
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coolangatta
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Originally Posted by Suresh
Maybe, maybe not.

ING's shares fell by 30% on Friday as shareholders got out fearing that ING may get bailed out by the Dutch Government this weekend ..... Fundamentally ING is a reasonably sound company, however their potential impairments on bond positions should be of concern to their investors.

HTH.
I would say 'getting out' while being bailed out by 'Dutch Government' is an ill educated move by anyones standards!! So many headless chickens
However; no problem, as previously stated, for savers.

Last edited by coolangatta; 18 October 2008 at 01:13 PM.
Old 18 October 2008, 03:07 PM
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Suresh
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Originally Posted by coolangatta
I would say 'getting out' while being bailed out by 'Dutch Government' is an ill educated move by anyones standards!! So many headless chickens
However; no problem, as previously stated, for savers.
Er no. shareholders are right to get out before a company gets nationalised. Their ownership will get diluted at best or completely wiped out at worst. Examples include Northern Rock and Fortwas.

Savers are sitting pretty as it stands (I have a large cash pile, so I'm not complaining). The message is though don't buy or hold shares in financial institutions, as the Government may rob you. Not really a model for a healthy financial system is it?
Old 18 October 2008, 03:32 PM
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coolangatta
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Originally Posted by Suresh
Er no. shareholders are right to get out before a company gets nationalised. Their ownership will get diluted at best or completely wiped out at worst. Examples include Northern Rock and Fortwas.

Savers are sitting pretty as it stands (I have a large cash pile, so I'm not complaining). The message is though don't buy or hold shares in financial institutions, as the Government may rob you. Not really a model for a healthy financial system is it?
Er Yes! 'Nationalised' shareholders are doing no worse than most in banking circles!
Old 18 October 2008, 09:42 PM
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Suresh
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Originally Posted by coolangatta
Er Yes! 'Nationalised' shareholders are doing no worse than most in banking circles!
Er No!

Shareholders' action groups (just a bit angry that Shares were confiscated by Governments)
BR Northern Rock
B&B Bradford & Bingley
Fortis (Fortwas) AD.nl - Economie - Duizenden Fortis-aandeelhouders achter claim
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