Icesave-please help/advice!!!!

isofa

molar wrote: »

Just read that shares in all Icelandic banks have been suspended this morning pending an announcment so I'm transferring out now. It's just easier to transfer out now to save potentially a lot of hassle in the future.

Covered on various threads if you do a search...

jp01_2

trixie68 wrote: »

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!!!

You are basically asking if an investment carries a RISK.
There is no way of knowing what the future holds.
Have banks gone bust in the past? YES 16,000 in usa in 1920s
Did some folks loose all their money? YES of course

I suggest you read several various sources. There are far better sources for your information than asking on here.
Google Iceland news


The Icelandic banks are the unstable in the western world.

At the moment it is a very fast moving situation.
The Iceland economy is plunging head long over the cliff, with worries that the currency is going the same way as Zimbabwe.
Even as I type the share in Iceland banks have been suspended!

isofa

jp01 wrote: »

The Iceland economy is plunging head long over the cliff, with worries that the currency is going the same way as Zimbabwe.
Even as I type the share in Iceland banks have been suspended!

Here we go again...

The shares were suspended hours ago, covered many times previously on threads.

Comparing the currency of Zimbabwe with Iceland, is probably one of the most stupid things I've ever read on this forum.

Paul_Herring

Where is Mr Peston when you need him...

jp01_2

isofa wrote: »

Here we go again...

The shares were suspended hours ago, covered many times previously on threads.

Comparing the currency of Zimbabwe with Iceland, is probably one of the most stupid things I've ever read on this forum.

Unfortunately you may not like the message, it is natural reaction for the ill-informed to want shot the messenger. The phrase I used was ''with worries that the currency is going the same way as Zimbabwe''
The FACTS are The krona, Iceland's currency, is in freefall and IS rated just above those of Zimbabwe and Turkmenistan.

The ``currency has collapsed,'' Beat Siegenthaler, a senior strategist at TD Securities, said in a phone interview before the announcement. ``Many of our traders are saying they've never seen a currency lose as much in such a short time.''

The Icelandic govt have today asked their banks to have a firesale of foreign investments, in a desperate attempt to get in some foreign currency in a desperate attmept to keep going. Also considered for sale are Icelands pensions funds, again in a desperate attempt to prop up the nearly empty foreign reserves.

The Icelandic economy is nosediving into massively deep stagflation , under which the economy contracts while prices spiral higher.

Have a good day.

Paul_Herring

Unfortunately you may not like the message, it is natural reaction for the ill-informed to want shot the messenger.

Well that does tend to happen when the messenger is wrong.

tomsgranny

I have been trying all day to access my 'Easy Access account' with ICESAVE. I am unable to do so, their computer seems to be blocking all passwords. I have spoken to 3 people at ICESAVE all say that they can reset my password, it then seems to be taking 90 minutes for the second half of the new password to reach my BT account. The computer then refuses to accept it. I am now waiting to hear from a supervisor. Is it not strange that this happens on the day that Iceland goes bust??
ICESAVE do have a sign on their webpage saying that they had a problem this morning but that it has been solved, this in my case is obviously not true. This does not help with keeping their customers calm. I would love to know if anyone else is experiencing the same problems.:mad:

Baldur

Just logged straight into my Icesave A/C with no problem.

stevedb11

" Is it not strange that this happens on the day that Iceland goes bust??"
Don't you think thats a bit alarmist?
sorry but have I missed something?

Primrose

fatpig - what an insensitive individual you are! People come onto this forum for help and advice, and the person who was posting the question was obviously extremely worried. If you can't contribute helpfully then it might be better if you stayed silent. I can only say that we have a fair chunk of our savings in Icesave and intend to leave the money there.