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Ladies and gents - please calm down and stop adding to the hysteria
blizeH
Posts: 1,401 Forumite
First of all, please take a look at Reaper's great Credit Crunch FAQ.
Most importantly:
For those of you sticking with Icesave/Kaupthing Edge, good on you. :beer:
Most importantly:
Now, if you were one of the many people that decided to withdraw your money, good for you, but posting on here is not helping anyone. The media are quick to hype this out of proportion, but it doesn't help when every other thread is full of people proudly claiming that they've just withdrawn their £300 life savings via CHAPS, it just generates more anxiety "Oh god, everyone's withdrawing their cash - I better do it too!", no good can come from these comments.Q10: My savings are with the Icelandic bank Kaupthing. Are they covered?
A: They are covered by the UK FSCS scheme as if they were a British bank. The UK is responsible for making sure you get your money back.
Q11: My savings are with the Icelandic bank Icesave. Are they covered?
A: Yes, but under a "Passport Exemption". That means the first €20,887 (approx £16,000) is covered by a similar Icelandic scheme, and the rest is topped up by the UK scheme.
For those of you sticking with Icesave/Kaupthing Edge, good on you. :beer:
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Comments
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Absolutely agree.
If you're going to be selfish, at least be selfish in silence.0 -
I think that the BBC are doing more than enough to cause panic. On the financial news this morning they spent several minutes stirring up panic before ending with the phrase "I should point out that landisbank has not gone down... YET".
YET???? Oh well done internationally acclaimed news service. How much of a run did that word cause?0 -
You will not get a reply on either phone numbers available - the bank has ceased trading at the moment - it will be interesting to see if they will allow you to move funds out of your account. Anyone putting money in at the moment must be a fool.0
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But wasn't it the prime minister of Iceland himself who said last night that overseas investors would no longer be covered under the passport scheme. Apparently the passport scheme has £88M in the scheme with £15BN of potential liabilitiesFirst of all, please take a look at Reaper's great Credit Crunch FAQ.
Most importantly:
Now, if you were one of the many people that decided to withdraw your money, good for you, but posting on here is not helping anyone. The media are quick to hype this out of proportion, but it doesn't help when every other thread is full of people proudly claiming that they've just withdrawn their £300 life savings via CHAPS, it just generates more anxiety "Oh god, everyone's withdrawing their cash - I better do it too!", no good can come from these comments.
For those of you sticking with Icesave/Kaupthing Edge, good on you. :beer:
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Nope! No change for UK investors.
That means if you have less than £50k you're fine, any more than £50k and yes, you have perfectly good reason to be worried.
The PM of Iceland was just referring to their 100% guarantee - that only applies to Iceland residents, seems fair enough to me.0 -
Nope! No change for UK investors.
That means if you have less than £50k you're fine, any more than £50k and yes, you have perfectly good reason to be worried.
Why do you keep repeating that. Someone with £50K at Icesave is ANYTHING but fine. They may well lose the first £16k of their savings.
You can repeat the "everything is fine" mantra as much as you want, it won't make it true.
(unfortunately).0 -
WILH: Kaupthing Edge is still, until further notice, covered by the FSCS. Stop scaremongering. I just put it some more money into my KE savings fund yesterday. Am I a fool? They are obliged to tell you if the FSCS situation changes regarding foreign banks, therefore UNLESS you have more than £50000 in your account it is safeguarded by the FSCS.
I for one am sick of people panic mongering on this branch when they clearly haven't read the FAQ post and don't therefore know the facts.:([SIZE=-4]MF date: Dec [STRIKE]2028[/STRIKE] 2019. Overpayments in 2007=£900, 2008=£1200 2009=23400[/SIZE]0 -
Fella - why do you keep going from thread to thread spreading doom and gloom? For ****s sake man give us a break.0
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I think that the BBC are doing more than enough to cause panic. On the financial news this morning they spent several minutes stirring up panic before ending with the phrase "I should point out that landisbank has not gone down... YET".
YET???? Oh well done internationally acclaimed news service. How much of a run did that word cause?
I have to agree, the BBC have started scare mongering a lot more in the last few months. I thought they were meant to be impartial and provide facts, not just create a mass panic.
I think a few of the directors need firing to bring the BBC back in to line about what it's purpose is.0 -
Fella - why do you keep going from thread to thread spreading doom and gloom? For ****s sake man give us a break.
No - what I'm objecting to is the ridiculous posters who insist that anyone with concerns is either scaremongering or pannicking.
Why don't YOU acknowledge the fact that there are genuine things to be concerned about right now & people blindly saying "don't panic everything will be fine" serves no useful purpose whatsoever.0
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