Icesave - next move?

Satscene

btw i have £10k in ISA`s with Icesave, is it included in the £35k or regarded as seperate?and No i won`t be withdrawing, in fact when the limit is raised above 35 i`ll be putting more in

KingL

it's included

Wolf_Man

Stay put is my advice, thats what I am doing anyway.

bigwedgie

I'm with both ice and KE and am staying put ... no worries

jack111

I too have large amounts of money in both KE and icesave and am not moving them.

I would consider the below
Say any western european government lets one of its banks go bust and savers ended up losing their money . Within hours of such news almost all savers will be withdrawing their money from that particular countries banks. The implications to their economy would be castastrophic.
The irish government intervened when depositors started withdrawing money.
So I am sure many more banks are going to run into problems but the governments are going to intervene and rescue them in such a way depositors donot lose money.
example - Northern rock, B&B, HBOS, Glitnir, Dexia, Fortis etc

Griffboy

jack111 wrote: »

I too have large amounts of money in both KE and icesave and am not moving them.

I would consider the below
Say any western european government lets one of its banks go bust and savers ended up losing their money . Within hours of such news almost all savers will be withdrawing their money from that particular countries banks. The implications to their economy would be castastrophic.
The irish government intervened when depositors started withdrawing money.
So I am sure many more banks are going to run into problems but the governments are going to intervene and rescue them in such a way depositors donot lose money.
example - Northern rock, B&B, HBOS, Glitnir, Dexia, Fortis etc

Yes, you certainly have a point.

Nobles

jack111 wrote: »

I too have large amounts of money in both KE and icesave and am not moving them.

I would consider the below
Say any western european government lets one of its banks go bust and savers ended up losing their money . Within hours of such news almost all savers will be withdrawing their money from that particular countries banks. The implications to their economy would be castastrophic.
The irish government intervened when depositors started withdrawing money.
So I am sure many more banks are going to run into problems but the governments are going to intervene and rescue them in such a way depositors donot lose money.
example - Northern rock, B&B, HBOS, Glitnir, Dexia, Fortis etc

Thanks Jack.
I also have a very substantial balance in IceSave (well above 50K)
I spoke to them today and they said their compensation will be rising to 50K shortly.
Got through very quickly on the phone and my call was handled well, so good marks for customer service. May be an idea to move some funds out but where do I put them?
Northern Rock or an Irish bank would seem to be the best candidates.

bamcra

Nobles wrote: »

Thanks Jack.
I also have a very substantial balance in IceSave (well above 50K)
I spoke to them today and they said their compensation will be rising to 50K shortly.
Got through very quickly on the phone and my call was handled well, so good marks for customer service. May be an idea to move some funds out but where do I put them?
Northern Rock or an Irish bank would seem to be the best candidates.

I would be very interested, to say the least, to know the details of this promise. As an Icelander who follows Icelandic news every day, I presume the 50k is not coming from Iceland.
As far as I know, Iceland will pay £15.840 (20.000 euros), the rest will have to come from Britain (in the case of IceSave). There has been no mention of £50k in the Icelandic news as far as I know.

Please tell us more of this promise.

Satscene

was wondering the same myself, maybe the Icesave rep was referring to the governments `promise` that the £35k would now be extended to £50k, which leads on to another question - will this proposed increase apply to british citizens with savings accounts in foreign banks??

IT_nerd

I have money in icesave accounts. It's only just got there, and it's staying put.