Icesave-please help/advice!!!!

cs15

silverchair wrote: »

I cant log into my ICESAVE ISA. I tried on Sunday & had the same problem.
Is anyone else having difficulty? I want to print out my statement for my file.
I wish our government would say whether they are going to help us or not. Its rubbish not knowing the facts.
Like is it up to 16000 pounds which is covered or is it under that amount & then its not covered.
Im really annoyed, both my OH & myself have worked hard for our savings. We've not eaten out, gone to the theatre, gone to the pub on a friday night so that we could save for a deposit for a house & afford to have kids one day.
AND no we didnt have time to research the bank properly as I am not in that part of the industry. Most of the ICESAVE customers put their money in there with a bit of faith thinking that people would do their job properly. Just as I wouldnt expect you to know as much as your doctor when you go to see him for advice, or know as much to run a school. It is unreasonable to expect everyone to know the ins & outs of every trade & business especially if they have their own jobs to do.

I agree with you completely.
Although I would far prefer the British taxpayer doesnt have to payand we get the money off those that guarenteed the funds originally (the Scandinavians)). So I dont think the govt will offer to pay until they know the Scandanivians wont, which is painful but I do agree with a bit.

It really is annoying that people come on here and point the finger at us concerned IceSavers.

Its almost like we deserve it.
We are greedy too apparently.
We are materialistic nouveau rich.
We were naive to follow standard media advice.
The British taxpayer wont bail us out for going abroad with a few k (yet superstars do this ALL the time and alot more).

I agree with you above as I suspect a lot of us are reasonable working people, trying their best, usually offering something, rather than sitting at home !!!!ed, on something and taking benefits.
We took a best buy where to put our money, maybe yes in retrospect a bit naive, but this dancing on our problems
really doesnt help. We are not swindlers, we were just doing our and making an effort in life and the people rubbing this in really
need to give us a break. I am not going to pleased when I see their efforts down the pan.

Cretin Dappodan says "Whats the point of cherry picking individuals out to guarantee their personal wealth."

well if my savings cant be safeguarded, why work, why bother?
why not just sit at home and get !!!!ed? spend it on booze , yeah.
And why should I repay my mortgage if they cannot honour their commitments to me. I for one dont want to see decent hard working people abandoned in this way at this stage.

For all these reasons Dappodan is a moron.

Meadows

silverchair wrote: »

I cant log into my ICESAVE ISA. I tried on Sunday & had the same problem.
Is anyone else having difficulty? I want to print out my statement for my file.
I wish our government would say whether they are going to help us or not. Its rubbish not knowing the facts.
Like is it up to 16000 pounds which is covered or is it under that amount & then its not covered.
Im really annoyed, both my OH & myself have worked hard for our savings. We've not eaten out, gone to the theatre, gone to the pub on a friday night so that we could save for a deposit for a house & afford to have kids one day.
AND no we didnt have time to research the bank properly as I am not in that part of the industry. Most of the ICESAVE customers put their money in there with a bit of faith thinking that people would do their job properly. Just as I wouldnt expect you to know as much as your doctor when you go to see him for advice, or know as much to run a school. It is unreasonable to expect everyone to know the ins & outs of every trade & business especially if they have their own jobs to do.

I have been able to acess my account all day witout a problem.

4listair

http://forums.moneysavingexpert.com/showpost.html?p=14779733&postcount=147 Last edited by Dan_66 : Today at 5:16 PM.

As a follow-up to my post last night and in response to the post quoted above; I processed a withdrawal transaction last night and called ICESAVE today to ask whether this would still be going through. The gent I spoke to informed me that ALL WITHDRAWAL TRANSACTION REQUESTS WHETHER MADE ONLINE OR BY PHONE HAVE NOT BEEN PROCESSED SINCE (and including) FRIDAY 3rd OCTOBER!!!!!! Staff at the ICESAVE call-centre had only just been informed of this fact-and seemed shocked as the computer showed them as being processed and call-centre staff believed transactions were being carried out over the weekend when taking calls from customers! I will never believe any SHI*E posted by ICESAVE on their Website again. Our money is frozen and who knows who long it will take to get any back.

pararct

One good thing to come out of today disaster is the urgency the Government is now giving to propping up the UK banks.

Whilst it is of no comfort to the Icesave savers it will help safeguard lot more peoples savings.

I fear the 300,000 will have to learn a harsh lesson to teach us all to be more frugal in the future.

lizg_2

Meadows wrote: »

Hi, I set three transfer of funds going yesterday, to be actioned today (earliest movement), one by chaps & two by bacs. Early this morning the funds had left the account, but the Chaps has not arrived at its destination.
After I contacted Icesave today for a second time (after being lies to the first time), I was told the transfers would not happen and would bounce back into my accounts. So at present all my money is in limbo, along with a lot of savers on this forum!

Just wondering how funds can bounce back to accounts that are officially closed??

Lakeuk

I'm surprisingly relaxed through today's Icesave shenanigans (not much I can do), if it goes as far as the compensation route then I'll end up out of pocket which will be a frustration and will put my plans back abit (if only those around me not affect felt the same, they're worrying for me). At the moment everything is speculation as to what is going to happen but it doesn't help that the media is generating the Chinese whisper affect.
From what I've heard today I'm happy in the knowledge that if it does go belly up then the UK compensation scheme have said they'd expect to contact savers with details of the claim process and forms (hopefully one) and will manage the compensation claim between the two schemes.
Feel sorry for of those examples from those with alot more cash in icesave, for example the couple who sold their home and temporary placed the cash in Icesave ready for purchasing their next house - not a nice thought of being homeless.

homer_J123

pararct wrote: »

One good thing to come out of today disaster is the urgency the Government is now giving to propping up the UK banks.

Whilst it is of no comfort to the Icesave savers it will help safeguard lot more peoples savings.

I fear the 300,000 will have to learn a harsh lesson to teach us all to be more frugal in the future.

stashed then?

Would you care to share some advice on here and what you've been doing to mitigate your risks in terms of savings and investments?

herbie72

Super_Ted wrote: »

I appreciate where you are coming from but as I and other people have pointed out there are two types of risk to consider when you pass your money to someone else.
.
Firstly is what they are doing with it going to go up or down in value? I.e is it going into shares, are shares rising falling, does the person know what they are talking about re. share values?
.
Secondly are they themselves trustworthy, how many other peoples cash are they looking after? Can they handle such large ammounts, will they skip the country with your cash.
.
Historicaly speaking banks do quite regularly go bust. They are just another type of company.
.
Not everything can come with every warning, the coffee in your coffee cup is hot, the floor is wet etc....
.
ST

That final comment is, again, typical of your patronising tone, Ted. Come on man! How can you draw that analogy?!

People, like me, who are not financially-minded, but are looking to stick a small sum of money into a cash ISA for safe-keeping, will turn to 'reputable' sites like MSE for advice. I came on here, back in early January 2008, and read the glowing reports from Martin Lewis about Icesave. I then compared his views with those on other sites such as Motley Fool and other financial advice sites.

Not one of them (that I can remember, admittedly) advised people to be careful because a high rate of interest automatically indicated a bigger risk. How's the average lay-person supposed to know this stuff? I avoided the stock market because I didn't want the risk. Financial stuff scares the life out of me, but I felt buoyed that so many 'experts' were giving Icesave and Kaup the thumbs up.

Most normal people don't have the time to work out Iceland's population divided by its GDP, or whatever it is we're now being berated for not checking. We simply wanted somewhere safe to stick our hard-earned cash (in my case, to help pay for my house sale.)

Scooby64

cs15 wrote: »

ICretin Dappodan says "Whats the point of cherry picking individuals out to guarantee their personal wealth."

I think what he means (but expressed badly) is that other groups lose money without a "bail out". I lost money when the government stole Railtrack (OK they were shares so I suppose that's a risk you take)

I also had a pension with Equitable (the world's oldest pension provider looking after pensions for NHS, BBC etc) - pension holders lost money because of idiot managemnt, so why should savers be "protected"

The answer is because the FSCS was in place, and without it we'd all have avoided Icesave. That makes the FSA & the UK/Icelandic government accountable

cs15

pararct wrote: »

One good thing to come out of today disaster is the urgency the Government is now giving to propping up the UK banks.

Whilst it is of no comfort to the Icesave savers it will help safeguard lot more peoples savings.

I fear the 300,000 will have to learn a harsh lesson to teach us all to be more frugal in the future.

yeah but that it why should we take the lesson? when people have put in all the hard work to save this money it feels like being cheated big time - and we were being frugal we dont need to be more frugal, we were being frugal! Saving our money. We followed fairly standard advice. If we were naive it wasnt really deserved for the hard work we put in, and as someone said above we followed media advice and the fact the scandinavians would back this (this should still happened) in the event of problems..... so why should we lose thousands of pounds any more than anyone else, so I dont accept at all we should lose this. Most of us are normal working people.