Icesave-please help/advice!!!!

tim30577

cs15 wrote: »

Its not just a country, Scandinavia is supposed to honour this in the event of Iceland being unable to meet its commitments.

Denmark, Norway and Sweeden should also step in. The Guarantee fund is authorised to borrow money in the event Iceland cannot pay it back.

Although it seems some peaple on this forum know better and will argue this may not happen.

At this stage, we simply do not know if the firts portion (£16,300) is guaranteed. I have been told from the FSA that is will be and to avoid reading the press if possbile.

Keep on checking the below website and icesave.co.uk, AVOID ALL OTHER SITES if you can, though it's very difficult not to (hence why I am here).

http://www.moneymadeclear.fsa.gov.uk/news/firm/firm_news.html

JUST THE ABOVE SITE anything else is speculation

daveple

I have been diligently depositing my maximum ISA allowance for the past 5 years and the thought of starting again is not a nice one. Hopefully HMRC will treat the funds recovered as a transfer to a new provider and not make us start from 0 again...

Also I foolishly opted for annual interest on my ISA, so I bet when / if I finally get my ISA paid out it will be less interest I have earned this year

I am learning SO many lessons out of this....

frugalfreda

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. quote]


Silverchair, try this link: http://www.icesave.co.uk/login.html. I got in via this and was able to print out a statement.

I couldn't get in either via the main site (icesave.co.uk) so googled for their login.

barberboy

pessimist wrote: »

My understanding is that the FSA compensation is only paid in certain specific circumstances. IF the Icelandic government puts in a solution that does not meet those requirement you may get nothing.

Do you have something wrong with you? Are you some sort of simpleton?

If the icelandic government puts in a solution that is anything less than all of us getting our money back then we claim them. Specific circumstances - Bank goes into recievership temporarily then ultimately liquidation, Another specific circumstance - Bank decides to stay afloat, we all take our money out anyway. Quite simple really, dont need you being stupid about this. I am trying to get serious answers here so stop wasting my time pessimist.

magicdogsbrain

I can’t help thinking there is something morally wrong with bank recapitalisation on the one hand and the freezing of deposits in Icesave.

Isnt is nice that those folks earning millions are getting some money from us – at the same time we cant get our own money!

I say let the banks go belly up. We are going to give billions of pounds to the people that fxcked it up.

I doesnt make sense to me at all.

Streetperson

Hi Newbie here
I have used MSE for years and got some good deals so thank you. Am caught up in the Icesave fiasco - did a BACS t/f Sunday - where that is who knows but a couple of thoughts
1. If there is any talk of 300K people losing up to £50K or even £16K because the FCS doesn't pay up assuming it all goes belly up -the potential run on questionable banks could be huge - and make Northern Rock look like a walk in the park.

2. It is essential that we keep this whole thing high up on the POLITICAL AND MEDIA agenda - but make sure the FACTS ARE RIGHT - and not some of the misleading and inaccurate rubbish we have seen today from some areas.

Any thoughts - do any of the journalists who lurked here earlier today want to take up the cause

Do any of you have any views

cs15

""Denmark, Norway and Sweeden should also step in. The Guarantee fund is authorised to borrow money in the event Iceland cannot pay it back.

Although it seems some peaple on this forum know better and will argue this may not happen. ""


http://blog.moneysavingexpert.com/2008/04/01/icesave-how-safe-are-your-savings-facts-and-myths/

that quote i put about the nordics came from the above and the icelandic fsa said the Nordics would guarantee this. This is why many us thought this was pretty much covered. Surely if they do not honour this the EU can step in as legally binding commitment especially as Sweden and Denmark are part of it.

goingforbroke_2

I'm not sure if this is the right place to post this message - I've not actually done this before, but I do need some advice.

My brother and his wife have (despite the publicity over the last few days) misguidedly deposited £70k in ICESAVE which is obviously now in serious danger of being lost. My question is this, the money has left Barclays and is apparently in the ICESAVE system somewhere but hasn't as yet reached their new account. Does anyone know if there's a way of reversing the process or is this impossible?

If there is a chance - what do they have to do?

pessimist_3

tim30577 wrote: »

http://www.moneymadeclear.fsa.gov.uk/news/firm/firm_news.html

JUST THE ABOVE SITE anything else is speculation

From that site one can only hope that the Icelandic authorities does the below
as this is most likely to have a positive out come for UK depositors.

"If, as expected, the Icelandic authorities put the firm into insolvency proceedings, this is likely to trigger a default under the Financial Services Compensation Scheme (FSCS)."

If they Icelandic authorities do some thing else as they could do all bets are off.

I think it very unwise to second guess what authorities will do. even if you are the FSA.

Richard_Cocks

I guess the moral is that if you're going to panic, panic EARLY!

Those that did so in time to transfer their ISA allowance from Icesave obviously have come out the best.

Those that in a panic CHAPS transferred their ISA into a current account lost their tax-free shielding which could potentially be worse than simply waiting for compensation.

And those that waited until Friday to panic and have their funds not showing in any account are probably the most worried of anyone!

The moral is, either panic early or stick it out! Just work out your attitude to risk and pick one.