Icesave-please help/advice!!!!

trixie68

Please anyone out there who may know!!!
I've just watched the news and (not quite sure if I got this right) but are Icesave gping bust??? I advised my parents to put there very hard earned endownment earnings (!) into and ISA. This money is to go towards their pension. What happens if they do go bust? WIll they lose their money??? And all on MY advice!!!

fatpig_2

I have it on good authority that the Martians (the big Green Men) are invading the Earth next week so it's probably best to worry about that instead

KingL

Have a read of this to start ....

http://www.moneysavingexpert.com/savings/safe-savings

penguine

No, the news stated that the Icelandic economy is in trouble but not that Icesave is going bust.

Please read this page on the Icesave website about protection for savers:

www.icesave.co.uk/important-information.html

trixie68

Thanks fatpig for your reply. Unfortunately, after watching the news which i am sure my parents were watching too I am worried sick. Your unhelpful comment is much appreciated. This is really is my parents life savings/pension/etc wrapped up all into one. They think it is a fortune and followed my advice which I might add I found on this site! Are you one of the little green men or just someone sitting on this site waiting for someone like me so you can make a smart !!!! comment like you did. Gee thanks........

Hungerdunger

First of all, you really need to calm down. Now, have your parents got more than £100,000 tied up in IceSave? If not, you will know, having read the info referred to by penguine that there is absolutely nothing to worry about.

Even if they do have more than £100k in there, where have you got the information that Icesave is in trouble? I'm not saying you're wrong, but I've just watched the news on BBC and Sky, and I didn't hear this.

tawse57

A friend of mine moved 30K out of Icesave this week to her Lloyds' current account. She did this via CHAPS and paid £25 to do so but it meant an instant transfer to her account and within an hour or so Lloyds were ringing up just to clarify the large sum that had arrived in her account.

Hungerdunger

tawse57 wrote: »

A friend of mine moved 30K out of Icesave this week to her Lloyds' current account. She did this via CHAPS and paid £25 to do so but it meant an instant transfer to her account and within an hour or so Lloyds were ringing up just to clarify the large sum that had arrived in her account.

Did she have more than £35k (soon to be £50k) in Icesave to start with? If she didn't then I'm curious to know why she transferred the money out, especially as she had to pay £25 for thr privilege, and I suspect will now be earning less interest..

trixie68

I really wish I had not posted now.
I'm not stupid although you may all think I am.
Just worried when I hear stuff on the news (after a very, very long day of twins birthday pary with 30 kids) I misheard!!! My Goodness shoot me down! And somehow, by asking an honest, innocent question I have opended up others to take the mickey (not just on this thread). Excuse me for being such a dimwit and asking for help. Time for me to go me thinks... Obviously not clever enought to be on here.

trixie68

Excuse the spelling in last thread!!
Bye!!!!!!

Wolf_Man

Don't worry Trixie.

The BBC reported it with its now normal view towards sensationalism.

It went something like ' there is talk that the whole of the Icelandic banking system could be liable to crash...' no facts or figures or any other information, just that.

My other half also thought that she heard that the Icelandic banking system had collapsed!

I don't trust anything that the BBC report after their handling of the Northern Rock, which in my opinion caused the run in the first place.

All we need now is for the BBC to start a run on the Icelandic banks which might then cause some propblems..