Icesave-please help/advice!!!!

deefadog

Hi all, so if it's 100% guaranteed, does that mean i can withdraw now? keep the money in there or what? Totally confused and flapping about it all???

ginjo49

Just a thought..... Mr Bjorgolfur Gudmundsson's who owns West Ham United FC also owned 40% of Landsbanki. He is the second ritchest person in Iceland his son is meant to be the first ritchest. I just wonder if it is of any use to us that he lives in the UK and may be willing to do something about this mess.

BBC:.....West Ham United statement </SPAN>

The CEO has clarified the situation regarding Bjorgolfur Gudmundsson's ownership of West Ham United
07.10.2008

West Ham United CEO Scott Duxbury has issued the following statement following the news that Iceland bank Landsbanki has been placed into receivership.
Scott Duxbury said: "The position of Landsbanki has absolutely no effect on West Ham United and Mr Gudmundsson's ownership of the club.
"Mr Gudmundsson is an investor with a large portfolio, of which Landsbanki was just part. He remains as committed as ever to West Ham United and is not looking to sell the club."
"As has previously been stated, Mr Gudmundsson has invested £40m net in the playing squad to create a squad capable of challenging in the top half of the Premier League.
"Since his appointment, Gianfranco Zola has made it quite clear that his first-team squad is too large and needs to be reduced so he can effectively coach the team. Once this has happened and if the manager requires further players, then the club will acquire them.
"Mr Gudmundsson remains fully committed to the success of this football club and building on the excellent start made by Gianfranco Zola."

PintoPotts

Details here: http://news.bbc.co.uk/1/hi/business/7658417.stm

It actually reads like they will only be helping people over the £50000 and anyone between £1-£16000 will lose their money!

Has he stated anywhere all deposits will be covered?

Meadows

deefadog wrote: »

Hi all, so if it's 100% guaranteed, does that mean i can withdraw now? keep the money in there or what? Totally confused and flapping about it all???

All the guaranree does is to cover savings up to £50,000.
No you can't withdraw it you will have to claim your money back when the bank totally folds, via the FSA. This could take about four months.

haziec

darude wrote: »

Disregarding all the arguments going on here, what do you do when you're blamed for recommending Icesave to close friends and family, stating the best rate for ISA and fixed rate accounts and then this happens?

I also recommended Icesave to our daughter and new SIL after reading about it in the Mail, but I don't feel that bad as they didnt have to take my advice, their decision, their money, but I will help all I can to get it back, don't beat yourself up darude, its not your fault!

Meadows

'Exceptional circumstances'
"The Icelandic government, believe it or not, have told me yesterday they have no intention of honouring their obligations here," said Mr Darling.
"Because this is a branch of a foreign bank the first call would be on the Icelandic compensation scheme which, as far as I can see, hasn't got any money in it.
"The British scheme would top that up to £50,000, but people over and above that would lose out," he added. "But I have decided in these exceptional circumstances that we will stand behind those depositors so they get their money back."
http://news.bbc.co.uk/1/hi/business/7658417.stm

[Deleted User]

what a relief this news is. Well ive certainly learnt from this and will putting my savings where my mortgage is, that way if the worst happens it will be offset with what l owe.

haziec

Richchad wrote: »

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.

shouldnt that be IF they default on their guarantee??? or have I missed something??

PintoPotts

Meadows wrote: »

'Exceptional circumstances'
"The Icelandic government, believe it or not, have told me yesterday they have no intention of honouring their obligations here," said Mr Darling.
"Because this is a branch of a foreign bank the first call would be on the Icelandic compensation scheme which, as far as I can see, hasn't got any money in it.
"The British scheme would top that up to £50,000, but people over and above that would lose out," he added. "But I have decided in these exceptional circumstances that we will stand behind those depositors so they get their money back."
http://news.bbc.co.uk/1/hi/business/7658417.stm

He refers to people over and above £50000 and that they would lose and says he will stand behind those depositors (i:e those with over £50000)....no mention of what is happening to the £1 to £16000 amount, the majority of account holders, I am still very worried!

Or am I reading too much into it?

csiman

PintoPotts wrote: »

He refers to people over and above £50000 and that they would lose and says he will stand behind those depositors (i:e those with over £50000)....no mention of what is happening to the £1 to £16000 amount, the majority of account holders, I am still very worried!

Or am I reading too much into it?

I read it that way too :mad: