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Icesave ISA transfer - unpaid cheque
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mrkbrrws
Posts: 337 Forumite
Has anyone else got an unpaid cheque back after requesting an ISA transfer out of Icesave?
Icesave closed my ISA and sent a cheque to Alliance & Leicester on 2 October which was credited to my new ISA on 9 October (although A&L showed it as 3 October).
On 15 October, Alliance & Leicester returned the cheque to me, stamped "Payment Prohibited by Legal Order".
I have just sent a blank e-mail to FSCS to get the "First" Icesave e-mail from them and sent a blank reply to confirm. I had also sent an e-mail to FSCS on Thursday explaining my situation but have had no reply yet.
I'm assuming that I will be stuck with a manual compensation claim that might take 6 weeks or so, anyone else caught in the same position?
Icesave closed my ISA and sent a cheque to Alliance & Leicester on 2 October which was credited to my new ISA on 9 October (although A&L showed it as 3 October).
On 15 October, Alliance & Leicester returned the cheque to me, stamped "Payment Prohibited by Legal Order".
I have just sent a blank e-mail to FSCS to get the "First" Icesave e-mail from them and sent a blank reply to confirm. I had also sent an e-mail to FSCS on Thursday explaining my situation but have had no reply yet.
I'm assuming that I will be stuck with a manual compensation claim that might take 6 weeks or so, anyone else caught in the same position?
I am an Accountant. You should note that this site doesn't check my status as an Accountant.
All posts on here are for information and discussion purposes only and should not be seen as professional advice.
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Have you tried logging into the Icesave website? It sounds like the funds never left the Icesave account if the cheque wasn't paid. Probably worth printing out a statement while you are there. If the money is still there I would have thought you would be compensated just like everyone else will be."Every Pounds A Prisoner "
"Loyalty to the Best Interest Rate"
:beer:0 -
My Icesave login details haven't worked since the ISA was closed.
I guess they didn't have a procedure for reinstating logins after stopping letting us get our money out!
FSCS had just sent me a standard e-mail response saying they are too busy to actually answer my question. I'll try ringing Icesave or whoever answers their phones next.I am an Accountant. You should note that this site doesn't check my status as an Accountant.All posts on here are for information and discussion purposes only and should not be seen as professional advice.0 -
Ah, sounds like the ISA was closed. Yes it sounds like you'll have to go through the manual process when that kicks off."Every Pounds A Prisoner "
"Loyalty to the Best Interest Rate"
:beer:0 -
Try ringing Icesave, and ask them to re-instate your login. The money has got to be accounted for somewhere, and if it's not with A&L, then it must still be with Icesave.
You can try ringing the FSCS, though from previous experience, they don't always know what they're talking about, if you have a specific query that doesn't have a pre-prepared script answer waiting...0 -
Has anyone else got an unpaid cheque back after requesting an ISA transfer out of Icesave?
Icesave closed my ISA and sent a cheque to Alliance & Leicester on 2 October which was credited to my new ISA on 9 October (although A&L showed it as 3 October).
On 15 October, Alliance & Leicester returned the cheque to me, stamped "Payment Prohibited by Legal Order".
I have just sent a blank e-mail to FSCS to get the "First" Icesave e-mail from them and sent a blank reply to confirm. I had also sent an e-mail to FSCS on Thursday explaining my situation but have had no reply yet.
I'm assuming that I will be stuck with a manual compensation claim that might take 6 weeks or so, anyone else caught in the same position?
Me too! Tried to transfer ISA from Icesave to bradford bingley mid september - bb sat on the cheque for weeks before presenting it and it was returned with legal order written across it in red. If they had cashed it when they received it all would be well. So I will also be claiming compensation for lost interest from them.
The FSCS simply say wait for the 2nd email before they can start a paper compensation process. Knowing that it will probably have to be that way, I tried to get the ball rolling by asking them for the forms a week ago.
Can't see the ISA funds reappearing on my account as the account was closed when they sent the transfer cheque to BB.0 -
Try ringing Icesave, and ask them to re-instate your login. The money has got to be accounted for somewhere, and if it's not with A&L, then it must still be with Icesave.
You can try ringing the FSCS, though from previous experience, they don't always know what they're talking about, if you have a specific query that doesn't have a pre-prepared script answer waiting...
Your money can be nowhere. A number of us have money in the ether neither with Icesave or the sending bank. I am currently trying, with no luck, to find out where my money was sent to. It was an ISA transfer. Apparrently Icesave only accept cheques but Lloyds TSb are adamant they made a BACS transfer.0 -
Your money can be nowhere. A number of us have money in the ether neither with Icesave or the sending bank. I am currently trying, with no luck, to find out where my money was sent to. It was an ISA transfer. Apparrently Icesave only accept cheques but Lloyds TSb are adamant they made a BACS transfer.
CarolAnn, this is rubbish.... when I transfered into Icesave, I did it via BACS from Barclays. There's no way it was a cheque, it went through too quickly... hope it gets sorted!'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0 -
She is talking about an ISA transfer. You personally cannot initiate a transfer - your request would have to have gone via Icesave to Barclays to have an ISA account transferred. Presumably you are referring to transferring into an easy saver account.Ethical moneysaver0
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I know she is, sorry, I should have put *they* did it via BACS'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0
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Icesave have told me to send the cheque back to them and it will be credited back to my account.
They expect that I will have to put in a manual claim so I have also written to FSCS requesting the necessary claim form.I am an Accountant. You should note that this site doesn't check my status as an Accountant.All posts on here are for information and discussion purposes only and should not be seen as professional advice.0
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