Icesave-please help/advice!!!!

fitnessqueen_2

casper_uk wrote: »

You said it yourself and i agree vultures (not fair on vultures btw), as bad as the people that called people names instead of discussing points raised in a polite manner imo. There is absolutely no need bad mouth people just because they have money at risk and have been misled. My heart really does go out to people with money at risk, i only hope that the scheme works. It's just some of the posters on here that acted like children make me so angry because it's not even there money!

Thanks for that post-I am normally very cautious as a single mum with two boys to support. I needed somewhere to put money away for their university fees and I thought I had weighed up the pros and the cons. I was comforted by the statements that the Icelandic scheme would cover the first £16,000 and I needed a good rate. Maybe I was stupid but I never saw a situation where Iceland itself was at risk of bankruptcy.

terricfan

Scooby64 wrote: »

Hi Rozzie - somewhere (I think on this forum) someone said that Icesave customer services had told them that no transfers had happened since Sunday Night and that balances would be restored (I realise its a double panic when it looks like your money has gone but not turned up at the destination)

Not true; I requested a CHAPs Monday morning at 10:30 and had the £200k in my First Direct account at 5pm last night. Shame I left £30k in there..........

Meadows

My husband and I started a transfer of three accounts last night 6th October, one Joint savings account & two Isa Accounts, we were given the option to transfer the joint account by Chaps £30 and the other two we had to do by Bacs.
The earliest day we could select way today 7th Oct, looking at our accounts online today all the transaction have been processed, but I have not received the Chaps payment! All the accounts no longer have the funds in the balance.

I contacted Icesave this morning and was basically fobbed off; being told the transactions would be honoured. By lunch time I telephoned them again to say I had not received the Chaps payment, and I was told that it was more than likely that these payments would not go through since the recent news, therefore the money (which better be returned back to the account), is locked.

We UK savers are not included in the promise of secure funds like the Iceland savers, but this bank were quick enough to take our savings.

There is no guarantee that the monies transferred will get to our accounts, I have just been on to my bank to ask how transfers (Bacs) work and was told that it basically leaves Ice save and sits in a holding account for a few days before arriving in the transfer account.
And also it depends on how Icesave do their transfers, basically it could be showings as left our accounts, but they may only do the transfers once a day, at the end of the day!
So although we are showing as funds actioned they may not have even left Icesave.

Okie

my understanding of the credit clearing system is that once a transaction is initiated on the system, it has to complete. The money is no longer the possession of icesave so cannot be 'recalled'. Anyone who has an icesave account showing that money has left, should expect to receive it in 2-3 days (BACS) or imminently (CHAPS). However, if your account still shows your money being with icesave, don't hold your breath

Scooby64

Rozzie

Just hung up the phone with Icesave. This was my 3rd call of the day with them. Despite earlier confirmation that my CHAPS was going through with no issue, the lady confirmed that no processing has been done since Sunday.

see a few posts back

jrs101

The website has been down all day. Its an absolute f****** disgrace keeping us UK people here in the dark ! Some kind of update or whatever on their website is the least they could do....

PintoPotts

TO CLARIFY RE: The first £16000

I have phoned and spoken to the FSCS the made it VERY clear in no uncertain terms that they will only be able to help with the amounts between £16000 to £50000, the amounts £1 to £16000 is the responsibility of Iceland.

They made it 110% clear that if Iceland fails, they will not step in and cover the first £16000.

So the first £16000 is in the hands of Iceland and there is NO safety net offered by the UK.

I have £10000 in Icesave cash ISA's and I am worried!

bazster

Scooby64 wrote: »

CHAPS is much quicker than BACS - I hope I'm wrong and that Tomorrow morning all the transferrs arrive OK, but my gut feeling is that if they can be pulled back, they will be

Yes it is (and a lot more expensive!) but the point I was making was that they did process at least one transfer after Sunday evening!

homer_J123

jrs101 wrote: »

The website has been down all day. Its an absolute f****** disgrace keeping us UK people here in the dark ! Some kind of update or whatever on their website is the least they could do....

...logged in numerous times today, downloaded and printed statements etc.

Getting money out however...

...still, as I have said below, nothing you can but wait.

I think it's beer o'clock time.

EagerLearner

PintoPotts wrote: »

TO CLARIFY RE: The first £16000

I have phoned and spoken to the FSCS the made it VERY clear in no uncertain terms that they will only be able to help with the amounts between £16000 to £50000, the amounts £1 to £16000 is the responsibility of Iceland.

They made it 110% clear that if Iceland fails, they will not step in and cover the first £16000.

So the first £16000 is in the hands of Iceland and there is NO safety net offered by the UK.

I have £10000 in Icesave cash ISA's and I am worried!

We have £16700 in an ISA with them and £6,000 fixed term account = £22,700. So that seems to be within the £16 - £50,000 remit. BUT what happens with interest? Obviously my ISA has interest within that £16,700 and I worry whether I will get that back The fixed interest account matures next month...