Icesave-please help/advice!!!!

blizeH

Yeah, guys I'd seriously recommend printing out statements if you can.

Okie

Paract, your posts are a combination of pathetic 'i told you so' bullying and incredibly flawed business logic. Please refrain from posting further unless you have something accurate and useful to contribute to the thousands of icesave customers, who through no fault of their own, find themselves in a situation that is unprecedented since the introduction of the current EEC regulatory regime.

northern5

Another thing, as this is a discussion forum ....

Lets assume that icesave doesn't recover, so we all apply to the FSA for our cash and they pay in full (including the first £16k from Iceland).... Will we be able to put into a new ISA account or will they say "Sorry, only £3600 this year" ?

edwinac_2

vishy01234 wrote: »

Well said. Those that are gloating right now and see fit to give an investment lesson at this tough and painful time are the lowest of the low.

I fancy you're either a shill, or a dupe, or a combination of both.

It is incredible that you are attacking the well-meaning posters on this forum - who repeatedly warned of impending disaster at the Icelandic banks.

Why are your sights not trained on the sophisticated confidence tricksters who lured us into posting our cash to a virtually unknown tin-pot bank on a sparsely-populated and remote island in the North Atlantic?.........

Just what is Vichy's game?! He's got to be a fraud!

Dont_Panic_4

FSCS just posted this on their site. Should clear up a few things...




FSCS gears up to assist Icesave's UK branch customers


In the light of the current uncertainties, the Financial Services Compensation Scheme (FSCS) is today gearing up in case it needs to assist approximately 300,000 savers at Icesave.
Icesave is the UK branch of Landsbanki Islands hf (trading here under the registered name Icesave). It is an EEA bank that is authorised by the Fjármálaeftirlitið (FME), the financial services regulator in Iceland. The Financial Services Authority in the UK has reported that Icesave is now expected to go into insolvency proceedings in Iceland and this would trigger an FSCS default.
Eligible savers with Icesave are protected by the Icelandic Depositors' and Investors' Guarantee Fund (IDIGF), up to a limit of the first 20,887 of their deposits. As an Icelandic bank Icesave is not automatically a member of the FSCS, but it opted to become a 'top-up' member. This means that eligible retail savers with Icesave's UK branch whose savings exceed the Icelandic limit would benefit from top-up compensation from the FSCS covering the amount over the Icelandic limit up to the new FSCS compensation limit for deposits of £50,000.
If the default is triggered as expected, FSCS will contact all UK savers directly with details of how to apply for compensation. Further announcements will follow and we will keep this page updated.
Please watch our website for more information.
EC6675F4-A75F-6BA0-4AF9-2E08C9BE0F80
1.02.05

cazzybabe

blizeH wrote: »

Yeah, guys I'd seriously recommend printing out statements if you can.

I can't log in to get a statement - can you?

I had no idea about this, i only went in to withdraw a few hundred pounds for a bill coming up and came accross all of this.

I only have a couple of thousand pounds in here, but it is all i do have and it is needed for forthcoming bills.....What happens now, do i have to beg borrow or steal because i cant get hold of MY SAVINGS !!!

pararct

Okie wrote: »

Paract, your posts are a combination of pathetic 'i told you so' bullying and incredibly flawed business logic. Please refrain from posting further unless you have something accurate and useful to contribute to the thousands of icesave customers, who through no fault of their own, find themselves in a situation that is unprecedented since the introduction of the current EEC regulatory regime.

I doff my hat to your clear opinion.However as you do not own the internet perhaps you can please explain as to why you find my post(s) pathetic, bullying and where they contain flawed business logic?

What has the current EEC regulatory regime to do with anything? Iceland are not a member (yet although this may change in the near future if the Country is declared bankrupt) and the EEC is now called the European Union.

Okie

the fscs does not have an 'off the shelf' answer to questions like the isa tax wrapper one. They will have to develop the solution as they go along, so it will probably be some time before questions like this have an official answer

swiss_saver

pararct wrote: »

You need to understand the term investing.. If you do then why did you invest in Icesave when there are perfectly acceptable UK banks where you could have lodged your funds.

No, you are wrong.

Placing deposits with prominent banks is not really "investing". Instead it is "saving".

When you invest in shares, for instance, there are continual warnings that the value of your investment may go down as well as up. Click though to anykind of Fidelity fund, and you will see that warning repeated time and time again. It is like the "you will die" warning you see on cigarette packets.

This prominence of warning is not given on deposit accounts. Go down to your local post office and open a savings account. See if the nice lady says to you "you do realise you might not get all your money back?" It doesn't happen.

A lot of people will be angry with this, saying they were never warned a bank could go bust and they could loose tens of thousands of pounds.

Okie

pararct wrote: »

I doff my hat to your clear opinion.However as you do not own the internet perhaps you can please explain as to why you find my post(s) pathetic, bullying and where they contain flawed business logic?

What has the current EEC regulatory regime to do with anything? Iceland are not a member (yet although this may change in the near future if the Country is declared bankrupt) and the EEC is now called the European Union.

lol
wrong again. Iceland are part of the European Economic Area (EEA) which means that they fall under a number of EU trade laws in the same way as EU member states. Most of the legislation that relates to the current banking crisis was introduced pre-1993 and is still correctly referred to as EEC legislation. Only legislation brought in after the name change in '93 is referred to as EU legislation.