Icesave-please help/advice!!!!

trickys77

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?

He said the icelandic scheme has no money to pay their share i.e. the first £16000 so he said they will cover this, plus all everything else not just £50,000. Everybody is safe, but you might have to wait up to 3 month (eu rules set this maximum)m to get the money back. More details at 9.15 which might give information on what will happen with ISA allowances and interest.

Meadows

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?

Who knows how to read it, we see different comments and some times it is down to interpretation, what we need is someone to stand up and say exactly what is covered.
All I can say is that according to Martin Lewis on GM TV this morning after talking to all & the government, all savings up to £50,000 should be covered!

mr_jetlag

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?

Yes you are. He makes mention of people who would normally have to apply to Iceland for the money, and guarantees them too. So that's the first 16k.

tom_foster_2

csiman wrote: »

How did you manage to withdraw yesterday? The accounts were locked.

Sorry, I meant Monday (confused as I've been on nights!)

It certainly sounds like good news, and I've learnt my lesson; no more foreign banks for me!

I'm genuinely amazed that Iceland (and the other countried involved) can just turn round and say they have no intention of honouring the agreement - in other words, it wasn't worth the paper it was written on. It seems strange that, as with most of these problems in the banking sector, any attempt at regulation or auditing seems to have gone by the wayside.

john5001

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?

No It means that " Icesave will not honor what they should have" but the UK will make good and pursue for recompense later"

northern5

morning all,

Just read through the comments this morning and personally I think that the news seems to be good.

As a saver with £6.5k in the pot, I hope that those who stuck to the FSCS limits get priority... Last year I had 5 savings accounts across the different institutions (as per Martins advice) just to avoid the limits.

Whilst I am glad that it would seem that everyone should get their money back (including the £50k+), I don't see why my UK taxes should pay for it! A bank can't just disappear, there must be something left!! The news keeps saying that Iceland has invested in our high street shops..... great, find a buyer and then use that money.

I think our government should FREEZE all Icelandic assets in the UK now. What an insult to say that they aren't going to honour their compensation scheme. Give them a kick up the !!!! until they do. We must not allow a country to take our money and then not give it back.

Rant over!!!

S3quence

I have watched and re-watched the Alistar Darling interview on BBC several times this morning (Sky+...rewind...watch...rewind) and he assures that the full 100% of everyones money will be covered!

As far as im concerned this includes the £1-16k

in_limbo_jimbo

I'm writing here as I can't find an appropriate Icesave thread.
I wrote to Icesave back in early september to get them to transfer an existing ISA I had with Natwest into my newly opened ISA account at Icesave. They said they received the paperwork when i phoned up a week later but they were still processing it.
Anyhow, I just logged onto Natwest and sometime between mid-september and now, Icesave have managed to get my ISA out of Natwest. Sounds all fine and dandy... but it's not showing up on my online Icesave account yet.
I've thus got a few grand sort of 'disappeared'.
Do you think that if Landsbanki declare themselves fully insolvent, this money will appear in the Icesave bank account and i'll be able to claim it through the FSCS/the Icelandic FSA? I'm under the 20k-euro limit anyway.

I've just gone on holiday to the far east and won't be back until mid-october so you can understand that sitting on the phone trying to get through to customer services wasn't exactly top of my agenda. Nor checking my online Natwest bank account everyday to see the precise moment/day it would get cleared out and moved to Icesave. etc.

Don't know if anyone else is in the same boat & knows what's going on?

PintoPotts

S3quence wrote: »

I have watched and re-watched the Alistar Darling interview on BBC several times this morning (Sky+...rewind...watch...rewind) and he assures that the full 100% of everyones money will be covered!

As far as im concerned this includes the £1-16k

The more I think about it the more I am convinced the £1-£16000 will be covered, this represents 95% of the people caught in the mess.

I hope and pray the Government in the UK will simply pay everyone out and pursue Iceland for the money.

Anyone know when the announcement will be made?

S3quence

PintoPotts wrote: »

Anyone know when the announcement will be made?

Alisatar said (on the news obv. he didnt call me!) he will make the announcement around lunch time today