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Icesave Compensation: Anyone still waiting for money?

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Hi folks,

We are trying to work out how the Icesave compensation payouts are going. We've heard a lot of good news from people who have gotten their money, but i want to find out how many people haven't.

If you are still waiting, it would be fantastic if you can reply to this thread letting me know what stage you are at (i.e. no email, 1st email, 2nd email).

Also, I have had a bit of a search but if anyone knows of any threads with people's stories about NOT receiving money in, it would be brill if you could post the links in here.

Cheers

Dan
Former MSE team member
«1345

Comments

  • Wife is waiting for postal application as her linked account is no longer in existence.
  • mjmal51
    mjmal51 Posts: 596 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    From BBC website 24,000 people have not yet bothered to initiate the claim even after receiving 2nd e mail. No MSErs I'm sure!
    "About 24,000 people are yet to reclaim their savings which were trapped in the collapsed Icesave internet bank.
    The Financial Services Compensation Scheme (FSCS) started the repayment process in November.
    This invited 198,000 savers to transfer their Icesave funds electronically to another bank account.
    So far 174,000 people have used the online system and the FSCS is urging the remaining savers to claim their money by 30 December this year.
    If they fail to do so, they will have to send in paper application forms to get their money, which could take a further six weeks to process.
    "The accelerated online process we have created has enabled the vast majority of Icesave customers to claim their compensation," said Jonathan Clark, the FSCS director of claims.
    "Those who have not yet claimed can do so by logging on to their Icesave accounts and following the instructions in the second email, which is posted on our website.
    "The process only takes a few minutes and will avoid any further waiting or paperwork," he added.
    Paper process
    The FSCS has now handed £3.2bn back to Icesave customers.
    Some of those who had fixed rate savings accounts have opted to leave £650m in their accounts.
    Instead of moving their money elsewhere, they are leaving their cash to accumulate more interest until their accounts mature.
    Some of the Icesave customers, about 17,000, could not access the Icesave online system and so were sent forms anyway.
    Most of these have been returned and are being processed, with about 1,000 people still to receive their paperwork.
    Eligible customers who have so far failed to activate the online system will have been sent a reminder letter by this weekend.
    The FSCS said there had been a glitch in printing ISA certificates for those who had ISA accounts.
    But most will receive the certificates in the post this week or next.
    They will then be able to reinvest their money in another ISA account, without the loss of its tax-free status, so long as it is done by 5 April 2009."
  • jr12_2
    jr12_2 Posts: 20 Forumite
    i am still waiting because i can not get second part of password .requested password 24/11/08 online and phone told to wait 24 hrs this went on for 5 days icesave said check with my server,they said no problems, eventually supervisor said there was an IT problem have been on phone every day i never get any information just told i can go paper route.i did recieve first email no problems.it must be a real big job to reset my password.now in limbo,do i go paper route or wait for password.
  • sloughflint
    sloughflint Posts: 2,345 Forumite
    Still waiting here.
    Power of attorney accounts not able to be processed electronically.
    No paper application sent out despite assurances that it would be received by 4/12.
    No answer to emails.
    No answer to web form.
    Phone queries useless. Merely given general quotes from the FSCS update.

    Very disappointed in FSCS for not troubleshooting effectively.
    At a complete loss as to what to do other than send a copy of someone else's application which I have done despite the unique bar code at top of page 1.

    Any suggestions on what else to try?
    mjmal51 wrote: »
    From BBC website 24,000 people have not yet bothered to initiate the claim even after receiving 2nd e mail. No MSErs I'm sure!
    And I bet I am classed as being in that category!
    Email 2 received but no option to initiate.:mad:
    Certainly not a case of not having bothered.
  • mjmal51
    mjmal51 Posts: 596 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    And I bet I am classed as being in that category!
    Email 2 received but no option to initiate.:mad:
    Certainly not a case of not having bothered.

    Thought there must be more to the story than people not wanting their money immediately.
  • mjmal51 wrote: »
    Paper process
    Eligible customers who have so far failed to activate the online system will have been sent a reminder letter by this weekend.

    Having not received either of the two emails the FSCS' letter arrived this weekend and I was able to log on and initiate the claim.
  • StuHolmes
    StuHolmes Posts: 142 Forumite
    Part of the Furniture Combo Breaker
    Not received mine. Both my wife and me had ISAs, my wife received her money about a week ago (no ISA cert tho'). I didn't receive the second email but about a week ago received the paper application, I beleive this is due to the fact we both had the same linked current a/c and FSCS will only pay electronically once to any single a/c. PITA, looks like I won't see my money this year.
  • Jillinoz
    Jillinoz Posts: 164 Forumite
    Mortgage-free Glee!
    I never received my second email (first email arrived but was marked 'spam' by my ISP, so I adjusted my security settings to ensure that the second mail would not disappear into the ether).

    I rang up the FSCS on December 4 (as per the official website instructions about making contact if no second email had been received by that date). I was told that an email had been sent to me previously, but I should go ahead and log in to my account to try to initiate my claim/s, using my usual log-in details. I apparently managed to do so, but subsquently received no confirmation mails.

    I contacted the FSCS again the following day and was given reassurance that my claims (for an ISA, a one-year fixed savings account, and an easy access savings account, totalling circa £30K) had been activated.

    For curiosity's sake, I asked the person on the FSCS helpline what date my second email had been sent out (I wanted to try to calculate just unlucky I actually am :D) and I was told 'December 4'! Hmmm, funny that...:rolleyes:

    I opted to keep my fixed rate savings account till maturity (it's only a month away) but I'm still awaiting the arrival of the deposits from my other accounts into my linked accounts.

    Oh, and incidentally, my broadband provider is Orange and I was told that the FSCS had been having problems trying to get the second emails out to its customers.
  • KingL
    KingL Posts: 1,713 Forumite
    I'm still awaiting the arrival of the deposits from my other accounts into my linked accounts.
    have you tried logging in to Icesave since you made the claim? If the claim was successful you will now be locked out of your account (it gives some kind of 'incorrect password' error if you try to log in).
  • jr12_2
    jr12_2 Posts: 20 Forumite
    just recievied letter 5/12/08 according to or records you have not loged in,called icesave still no password.can icesave not send password by post and how would i know if they are telling the truth reguarding IT problem
This discussion has been closed.
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