Icesave - 5.2%

Oct 10, 2006 11 Replies

Landsbanki, Iceland's oldest full-service commercial bank, is to attempt to emulate the success of ING Direct by launching an online savings account designed to grab a slice of Britain's nest-egg cash.



The account, to be announced on Wednesday, is the first of a planned range of financial services products. Landsbanki has been building up its operations in Britain: it owns Heritable Bank and the City stockbroker Teather & Greenwood, and a few weeks ago it bought a Guernsey banking business.



The website is up and running now however -

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and is offering 5.2% AER on deposits (minimum opening deposit: 250) Regards Sunil


Sunil Sood wrote: ...

Hey, they even say they support firefox :-)

But will they follow ING in dropping rates once they're established?

Don't they all? But not a while at least...

From

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"Our guarantee

The gross Annual Equivalent Rate of Interest (AER) paid on all amounts is guaranteed to exceed the Bank of England Base Rate by at least 0.25% until

1 October 2009 and thereafter not to be lower than the Bank of England Base Rate until 1 October 2011."

Regards Sunil

Hmm - cant find them on the list of FSA authorised banks

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Or the list of unauthorised.

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Sorry I was using the wrong number:

207250 - Landsbanki Islands hf

Current status: EEA Authorised

so for each 10k in ING at 4.75 vs here at 5.2 is 45GBP per year extra.

Until the next BofE rate rise when ING go up and these guys dont :-)

They are guaranteeing to keep their rates at least 0.25% above the BoE rate until 1st Octotber 2009 and then from then until October 2011 to not go below BoE rate. Can't say fairer than that:

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In message , Gus Ulton writes

Which means they could drop to 5% right away then.

Yes, but still considerably more than you get with any of the Big 4 and ING, which are now somewhat mediocre, despite all their fanfare when they entered the UK market.

Bitstring , from the wonderful person Gus Ulton said

You can currently get 5.3% iirc from Nottingham BS (Postal tracker) .. although it's 30 day notice, and 'by post only'.

Hello, I've specifically joined your forum today (Oct 31st) to comment upo Icesave. Approx. 10 days ago I accessed icesave.co.uk via the web completed the account application details and deposited the require

250. A couple of days ago I received the login codes and today, for th first time, attempted to connect and login and then access my account.

Disaster.

I've been with ING for a couple of years and with First Direct interne banking for many more. I have no problems with either but canno progress with the Icesave login beyond entering the user id an password. The site is sluggish and unhelpful.

I spoke with customer services who, to be fair, returned my call an suggested I clear out all my internet temporary files and cookies an then restore the defaults. WHY ?

I've been writing software for 30 years and whilst I detest Window with a vengeance I am actually running Explorer version 6 which i deemed to be one of the acceptable browsers in the Icesave list.

I tried to access my account several times - sometimes getting furthe than other times - this implies to me that there's problems with thei site rather with my browser/settings.

I'm closing the account - I cannot risk placing the 30k with them I' earmarked if I cannot access it easily.

Beware if you are intent upon opening an Icesave account - chec accessibility first.

R

In message of Tue, 31 Oct 2006, RupertRabbit writes

I've had no problems whatsoever (using Firefox of course)

DF

I've had no problems whatsoever (using IE)

Jim A

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