Icesave-please help/advice!!!!

TuftyMatt

I have £25k in an Icesave ISA and at this stage am concerned like everyone but not as much as yesterday morning.

The guy from the FSCS who was on the news yesterday sounded like they were gearing up for the worst (sending out forms etc) and based on what is being said on the news at the moment I am sure we will all be fine if under £50k

From what he said we are still earning interest as Icesave has not defaulted and will continue to do so until it happens. I expect to be without my funds until the year end though but then feel it will be in a new home under the ISA wrapper.

Meadows

tom_foster wrote: »

I have £37k with Icesave, which I tried to withdraw at lunchtime on Monday. I didn't feel too worried about the whole thing until this morning, just assuming that it would all be OK in time. However, the lack of communication is starting to make me feel rather concerned. I'm also surprised that a bank is able to stop an electronic transaction a day or so after it has been initiated - I assumed that once this process was initiated, the money would be 'between banks'.

I hope today brings some more helpful information from Iceland...

I like you am very surprised that they have stopped an electronic transfer especially Chaps, which are meant to be non reversible.

I spoke to my main bank yesterday for some info and they said that although the payments look as though they have gone from our account, Icesave may not actually do the transactions until the end of the day, so therefore the money is still within their system, having never left as admin was halted, but they have not bothered to reinstate our accounts.
I can only assume that even days ago the same thing was happening as it has been for the rest of the week.

denisiw

I have been listening to an interview with Alistair Darling on Radio5 Live and he said that the government will stand behind the UK Iceland investors.

Denis

Stavros_3

denisiw wrote: »

I have been listening to an interview with Alistair Darling on Radio5 Live and he said that the government will stand behind the UK Iceland investors.

Denis

Like all poor Generals, he'll probably be 100 miles behind

HOD_3

Have 'some money' in ICesave ISA just transfered from ING (I know) now given the current predicament can I set up a new one and transfer the funds (eventually) or do I just set one up and transfer money from somewhere else as I just put my yearly allowance in last week !

PintoPotts

HOD, I am surprised you are concerned about whether you can transfer the funds you have into another ISA, surely your real worry is whether you will ever see any of your money again!

I have read similar posts from people worrying about losing the interest, who cares, right now I would be happy just to have my money back.

Bearing in mind there are 300,000 of us UK people with Icesave accounts and the population of Iceland is around 300,000 - maybe we should simply invade the place and take back what's ours!

Richchad

Alistair Darling has just said on BBC Breakfast that they will ensure 100% all Icesave deposits will be safe, not just £50,000 but the total, and they will pursue Iceland for defaulting on their guarantee.

Meadows

HOD wrote: »

Have 'some money' in ICesave ISA just transfered from ING (I know) now given the current predicament can I set up a new one and transfer the funds (eventually) or do I just set one up and transfer money from somewhere else as I just put my yearly allowance in last week !

If you have put all your allowance in for this year, you can not re-invest until next year.

davide691

Darling's given 100% guarantee. Full stop. Thank God!

backfoot

What a wonderful development for Edwina C , Father Ted and the like. As taxpayers they will now be bailing out the Icesavers with compensation. :beer:
How poetically sweet that their vitriol and bile was not in the slightest effective in the eyes of justice and fairness.:j