Icesave: Can't get money out.

weaver33

So people.

As one of those people fortunate enough to possess a reasonable intellect (comma), let's set the record straight for everyone.

What is the most informed advice anyone can offer to help those people with:

A. Savings in ICESAVE under £35.

B. Savings in ICESAVE over £35.

Paul_Herring

A) Don't panic.

Don't panic.

Next?

chris1

shown73 wrote: »

It may sound odd, putting in a plug for ING, after all the rate cuts, but their websaver is paying 6.4% until March next year. ...Seems a pretty safe place to park it, for the meantime, although I suppose that there are some who would doubt the safety of almost anything at the moment. It's about the same rate as Icesave, anyway.

But isn't ING only covered under the passport scheme like IceSave, not directly under the UK FSCS scheme?

LucyTheDwarf

isofa wrote: »

People are so stupid, ill-eduated and poorly informed. They read an aritcle in a tabloid or on a forum, and think that must be right, anyone lost a penny in savings anywhere yet?

You really think UK banks are safer than others - gosh, really, NR, HBOS, B+B anyone...

I think I'd like to apply to be your personal cheerleader, isofa. It's refreshing to find a brain among all the scaremongering and ignorance, and one willing to speak their mind and tell it like it is. It's a shame more people do not listen to people like you. But I suppose "We're all doomed, keep your savings under your bed" is easier to understand for some than any intelligent discussion or debate about the safety of all of our hard earned savings.

LucyTheDwarf

chris1 wrote: »

But isn't ING only covered under the passport scheme like IceSave, not directly under the UK FSCS scheme?

Correct. €38,000 is covered, you'd have to claim from the government of the Netherlands, I believe.

EDIT: Might I add that I find the Netherlands to be one of the most well organised countries I've ever visited? My Dutch bf is constantly dismayed at "how difficult everything is" in Britain. I'm sure if the worst happened, it'd be an easy process to claim compensation, even if it took several months to get your money back.

isofa

LucyTheDwarf wrote: »

I think I'd like to apply to be your personal cheerleader, isofa. It's refreshing to find a brain among all the scaremongering and ignorance, and one willing to speak their mind and tell it like it is. It's a shame more people do not listen to people like you. But I suppose "We're all doomed, keep your savings under your bed" is easier to understand for some than any intelligent discussion or debate about the safety of all of our hard earned savings.

Thank-you, and likewise. :beer:

Limes

isofa wrote: »

People are so stupid, ill-eduated and poorly informed. They read an aritcle in a tabloid or on a forum, and think that must be right, anyone lost a penny in savings anywhere yet?

You really think UK banks are safer than others - gosh, really, NR, HBOS, B+B anyone...

Yes, they are aren't they?!:D

Whilst having read many of Isofa's posts I agree that there is a significant level of the well-informed and educated about the subjects discussed, but I can't help but feel a little let down by the sense of elitism that appears to be displaying itself in various threads.

One opinion is surely as valid as another in this "Chat Forum" isn't it? I'm sure I seem to remember one of the rules here being about respecting others - oh yes, just on the right hand side of this page in fact under forum etiquette:

Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

Surely there is a responsibility for contributors to calm the minds of those with enquiries so that any panic is removed as opposed to making them so wary of asking questions in case they're ridiculed because they are thought of as stupid, illiterate, ill-informed and poorly educated.

Now, let's all hug and be best friends!!!!

So, ICESAVE. . . any advance on A. Don't panic, B. Don't panic?

QTC

Uncle_Ben wrote: »

You can call it cowardice or paranoia or anything you like.

It's also greed and selfishness.

Whatever happened to the Dunkirk spirit and all that? Why are so many people in this country so spineless nowadays?

What money I've got will stay in Icesave..

isofa

Limes wrote: »

Yes, they are aren't they?!:D
Whilst having read many of Isofa's posts I agree that there is a significant level of the well-informed and educated about the subjects discussed, but I can't help but feel a little let down by the sense of elitism that appears to be displaying itself in various threads.
One opinion is surely as valid as another in this "Chat Forum" isn't it? I'm sure I seem to remember one of the rules here being about respecting others - oh yes, just on the right hand side of this page in fact under forum etiquette:
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.
Surely there is a responsibility for contributors to calm the minds of those with enquiries so that any panic is removed as opposed to making them so wary of asking questions in case they're ridiculed because they are thought of as stupid, illiterate, ill-informed and poorly educated.
Now, let's all hug and be best friends!!!!
So, ICESAVE. . . any advance on A. Don't panic, B. Don't panic?

Quite I made a couple of typos, don't we all from time to time?!

However, no-one is lambasting anyone for asking questions nor voicing concerns in a sensible and reasoned way, but one is doing that with those who post scaremongering - which surely falls fowl of the forum etiquette anyway. Many of these recent posts were removed by admin, or reported by other users.

However, those users who don't read the FAQ first, and then ask the same questions, repeatedly, can become annoying to say the least - this opinion certainly is not "elitism". But if encouraging people to read for themselves first, then ask informed questions after, is an elitist view, then I'm guilty as charged.

How many threads recently have asked, "I have 30K in xyz bank, are my savings safe?", a question answered by the FAQ and links on the Banking and Saving tab - which new users are supposed to review first.

Icesave: my personal opinion is definitely not panic, as per all the other threads discussing this subject

carbonmonoxide

Having got a few quid in Icesave (a LOT less than £35,000 I might add). I did have a minor panic reading this thread. But reading Martin's blog on the Icesave situation has put my mind at rest. As he says there's no point getting into a guessing game of who is going to go bust and if Icesave did go bust the thing that stood out most for me was:

If, in the unlikely event Icesave were to collapse, it would probably be bureaucratically more difficult to get your money back than if a fully-UK bank went bust; but again not substantively so, and may actually be faster.

so like people are saying DON'T PANIC!