Icesave-please help/advice!!!!

LucyTheDwarf

tradetime wrote: »

The German "guarantee" was a political statement, not a legislative statement like the Irish one. Brown or Darling could quite easily, and possibly have already, state that they will ensure that no saver loses a penny in any UK banking issue, without passing any laws, and it would put them in the same position as the German Chancellor says she has taken. We of course would be no better off. The government is waiting for an official response from Germany on this, which is a bit daft as it will undo any feel good effect they may have achieved from this, by effectively saying "we don't really mean it, just tell 'em what they want to hear"
http://www.bloomberg.com/apps/news?pid=20601100&sid=ayQUgBTLYJEc&refer=germany

I didn't say they had to mean it :P

Just saying it would make people feel happier.

tradetime

LucyTheDwarf wrote: »

I didn't say they had to mean it :P

Just saying it would make people feel happier.

LOL LTD. Lot's of people have been calling for a 100% guarantee on all deposits like the Irish have done, though it may be worth reading the implications of such a decision.
100% Guarantees

cwcw

I have just requested a CHAPS transfer from my Icesave ISA. Unfortunately I will lose out on nearly 8 years of tax free savings interested and have to put it into a normal savings account instead, but for me I don't think I could sleep tonight without knowing it's on its way to my current account. However I'm not going to rest until it's safely cleared. I do feel I have panicked, but I have worked hard for my money and it's too much to risk for the sake of about £30 a month extra interest.

LGG_2

i transfered my instant access ice save over by chaps tonight. I also have an ISA with them but ive transfered it the standard way over to abbey.

LucyTheDwarf

I think losing the tax free status is pretty drastic... I'm sure had you transferred it the normal way (to Natwest's great deal perhaps?) your money would have been safe, even when in transit, but now you'll lose out on all that tax, and the cost of a CHAPS.

You may not trust the government, but at the end of the day they are answerable to us. We lose money, they lose power.

cwcw

LucyTheDwarf wrote: »

I think losing the tax free status is pretty drastic... I'm sure had you transferred it the normal way (to Natwest's great deal perhaps?) your money would have been safe, even when in transit, but now you'll lose out on all that tax, and the cost of a CHAPS.

You may not trust the government, but at the end of the day they are answerable to us. We lose money, they lose power.

I trust our government. I don't trust the Icelandic government. They don't have to answer to us. When it comes to protecting savings in Icesave, UK savers will be near the bottom of the queue. I want my money back and I am prepared to pay the £30 a month in interest I will now lose out on from moving it out of an ISA, especially since I will be needing it to move house in a couple of years time (hopefully..).

Vectra

Don't panic Mr Mannering

Sordice

Just my opinion but I really think that if you wanted your ISA out of Icesave then you should have transferred, as suggested by others above...

But its your choice, you've got to do what feels right for you

chaotic_j

These posts are worrying me.. not sure whether I should take my money out or not.. can't really afford to lose £15,500 or thereabouts..

LGG_2

better to be safe than sorry imo. ive not closed my account just emptied it of everything bar a few hundred £ to keep the intrest rate up. if/when anything calms down i can just transfer it back again without having to open a new account.