GOOD NEWS INTEREST WILL BE PAID - if you're unhappy about this- GET OVER IT!

drsue wrote: »

A member of another forum has spoken to the FCSC and they have said interest will be paid until Icesave folded at the Icesave rates and thereafter until money is refunded at the FCSC rate which is quoted as something between 3.5 and 4%.

The reality is that interest is to be paid up until last Thursday, or sometime around then. Either way, the interest will probably be paid. I dont think the original deposits should be paid by the UK Taxpayer, though. I mean, if somebody takes the risk of investing in a bank outside the EU, then that is entirely their choice. The reward for that risk is higher interest, but on this occassion it has turned bad. I think somebody prepared to deposit money into a bank that isnt controlled by the UK Government (by controlled, I mean that the Government has the ability to take the bank over, and generally help out in this kind of crisis) is not that wise. A tiny bit more interest for all this hassle? I dont think its worth it, it clearly isnt worth it! I think customers should stop moaning and also not expect taxes to remain the same. Taxes will rise after this, the money is been BORROWED on the never never by the Government to pay the stupid customers for depositing money in a foreign country!

Chrismaths wrote: »

Does that mean that interest accrued on interest paid is money earned on money earned on our hard earned money?

I had money in Icesave. For that, I'm a f***ing idiot. Luckily this bullet came at a time that the government is in such deep doo doo that they guaranteed the entire amount in there to buy votes. And on a personal level, WOOHOO!! On a way-to-run-a-country level, not so much.

Ultimately everyone who got caught up in this should be thankful that their own bad decisions didn't hurt them and they will get their money back, with interest. I know I am.

yes, the majority have to suffer because of the stupidity of the minority. If it wasnt bad enough, they go and deposit their money in a foreign bank, then expect everything to be ok. You couldnt expect Iceland to look after anyone but their own people, could you? I hope people learn from this and dont go doing it again.

danny69 wrote: »

yes, the majority have to suffer because of the stupidity of the minority. If it wasnt bad enough, they go and deposit their money in a foreign bank, then expect everything to be ok. You couldnt expect Iceland to look after anyone but their own people, could you? I hope people learn from this and dont go doing it again.

Of course I expected it to be OK -- I deposited less than 35k in a bank which was guaranteed (for that amount) by the Icelandic and UK goverments.

The majority are indeed suffering due to the stupid actions of the minority. However, that minority is not those who were unlucky enough to deposit money in any of the numerous banks around the world which are currently being bailed out of the very deep holes they have dug themselves.

The problem is not the fault of depositors, it is the fault of those who have shaped this economic disaster, by turning unsustainably growing debt into a necessity of the global banking system.

drsue wrote: »

A member of another forum has spoken to the FCSC and they have said interest will be paid until Icesave folded at the Icesave rates and thereafter until money is refunded at the FCSC rate which is quoted as something between 3.5 and 4%.

Link please?

I can confirm that an FSCS spokesperson has said, to us, that all interest accrued up to the day of default will be included as part of the compensation.