Icesave-please help/advice!!!!

PM07

I have £100K in Ice Save account and its in for another 5 months before i can touch it - am i screwed?!?!?!?!?

~Chameleon~

campins wrote: »

...Which way to Natwest mate???....:shocked:

And you think Natwest would be a safer option right now? :rotfl:

edwinac_2

wmonkey wrote: »

And to be quite frank, if your money is not secure in a savings account, then where is it secure?

There are savings accounts and then there are savings accounts. Some are secure and some are not.

Depositing one's life savings in a tin-pot bank located on a tiny, far-away island, was tempting fate.

The Icelandic banking disaster was depressingly predictable. There were a host of indicators - particularly the collapsing krona - that the shrewd investor should have recognised as posing a serious threat to his savings.

If full compensation is not forthcoming, this will be an expensive lesson for many.

The Great British Building Society is where my money stays, as we descend into the worst financial crisis since the 14th Century collapse of the Lombardic banking system.

jd84

http://news.sky.com/skynews/Home/Business/Online-Bank-Icesave-Suspends-Withdrawals-And-Deposits-For-UK-Customers/Article/200810115114867?lpos=Business_First_Home_Article_Teaser_Region_0&lid=ARTICLE_15114867_Online_Bank_Icesave_Suspends_Withdrawals_And_Deposits_For_UK_Customers

Icelandic Banks: Deposit Insurance

• • If an Icelandic bank failed UK customers are protected up to £50,000
  • 95% of Icesave's UK customers have less than £50,000 saved
  • UK savers have the first £16,170 of their money protected by Iceland
  • The remaining £33,830 or double for joint accounts is protected by the Financial Services Compensation Scheme (FSCS)
  • If Iceland goes bankrupt, the FSCS would cover the entire £50,000

indiechickuk

If I have to claim compensation for the £20k I currently have in an icesave ISA, will I then be able to put it into an ISA elsewhere as a 'transfer', or am I stuck with having to put it into a regular savings account?

thanks
S

vishy01234

edwinac wrote: »

There are savings accounts and then there are savings accounts. Some are secure and some are not.

Depositing one's life savings in a tin-pot bank located on a tiny, far-away island, was tempting fate.

The Icelandic banking disaster was depressingly predictable. There were a host of indicators - particularly the collapsing krona - that the shrewd investor should have recognised as posing a serious threat to his savings.

If full compensation is not forthcoming, this will be an expensive lesson for many.

The Great British Building Society is where my money stays, as we descend into the worst financial crisis since the 14th Century collapse of the Lombardic banking system.

You know what - is there any need for you to act like an arrse and start gloating. There are some very scared pople on this forum right now with a lot of money tied up in Icesave - the last thing they need is gloating. Act like a grown up please.

ds1980

http://www.fscs.org.uk/consumer/How_to_Claim/

good luck people feel very very sorry for you.

LGG_2

pl arent having to claim yet are they? theres been no announcement?

simplykdc

Has anyone else seen this news report (posted witin the last hour I think):

http://business.timesonline.co.uk/tol/business/economics/article4898553.ece

Looks like Icesave have 'collapsed' - so that's why their website is frozen.

I just hope that the transfer I made last night (by BACS) goes through.

Good luck to all!!

ds1980

LGG wrote: »

pl arent having to claim yet are they? theres been no announcement?

there has watch this space!