Is this institution safe?

Cheekykid · 9 Aug 2008 at 17:08

http://www.kaupthingedge.co.uk

I want so save 300k and they caught my attention. How can I tell that they are legit and safe?

Duke · 9 Aug 2008 at 17:09

Speak to an expert/advisor.

Blu-ray · 9 Aug 2008 at 17:10

http://www.housepricecrash.co.uk/forum/index.php?showtopic=67502&pid=955829&st=0&#entry955829

http://forums.moneysavingexpert.com/showthread.html?t=906193

Lots on moneysavingexpert about them

Cheekykid · 9 Aug 2008 at 17:31

Duke said:
Speak to an expert/advisor.

where do I find him?

neocon · 9 Aug 2008 at 18:34

youve got 300k cash????

Cheekykid · 9 Aug 2008 at 18:38

neocon said:
youve got 300k cash????

Indeed from a house sale. Am looking for a bank to save it but i get mixed signals from people. Some suggest i should spread the amount to severals banks so that i can be covered as 35k is the guaranteed amount per institution.

kkbigal · 9 Aug 2008 at 18:38

I just recently opened a savings account with them - they're fully protected by the FSA

Burnsy2023 · 9 Aug 2008 at 18:38

Check they're authorised by the FSA.

Burnsy

neocon · 9 Aug 2008 at 18:40

Cheekykid said:
Indeed from a house sale. Am looking for a bank to save it but i get mixed signals from people. Some suggest i should spread the amount to severals banks so that i can be covered as 35k is the guaranteed amount per institution.

put it all in post office a/c as they are 100% guaranteed

Dunks · 9 Aug 2008 at 18:41

Stick it under the bed.

Cheekykid · 9 Aug 2008 at 18:47

I read some posts on moneysavingexpert forums advising against depositing money with them due to fears of a financial meltdown in iceland etc. I really don't know what to do

neocon · 9 Aug 2008 at 18:47

DunK1 said:
Stick it under the bed.

better still send to that nigerian chap, he'll double it for you

neocon · 9 Aug 2008 at 18:48

Cheekykid said:
I read some posts on moneysavingexpert forums advising against depositing money with them due to fears of a financial meltdown in iceland etc. I really don't know what to do

buy a property in london, still increasing in price i think

A[L]C · 9 Aug 2008 at 18:48

I'll look after it for you

Duke · 9 Aug 2008 at 19:03

Cheekykid said:
where do I find him?

www.unbiased.co.uk

I wouldn't risk that amount without advice.

Cheekykid · 9 Aug 2008 at 19:13

Duke said:
www.unbiased.co.uk

I wouldn't risk that amount without advice.

dont really wanna pay for an advice

Deiwos · 9 Aug 2008 at 19:19

Cheekykid said:
dont really wanna pay for an advice

And so you came to OcUK General Discussion forum seeking accurate/sensible/reliable advice?

TO THE INTERNETZ!

Vanilla · 9 Aug 2008 at 19:22

They are FSA covered but only up to £35k.

Spread the cash around with different banks. If you can't be bothered doing this then NS&I are 100% protected.

http://www.nsandi.com/

kitfit1 · 9 Aug 2008 at 19:25

Cheekykid said:
dont really wanna pay for an advice

If you have £300,000 to invest, frankly you would be mad not to pay for advice. Two well used phrases spring to mind, "If you pay with peanuts, expect to get a monkey" and "You get as much as you pay for".

[TR]SweetSpotOz · 9 Aug 2008 at 19:33