Icesave-please help/advice!!!!

RossDargan

in_limbo_jimbo wrote: »

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?

I am! My money transferred from my isa yesterday morning:mad: !! gutted.

It still has not appeared in Icesave (and there is no way for me to recall it!). I called Icesave and they said it can take a little while to come through, but it will apparently.

Ross

Meadows

northern5 wrote: »

As a saver with £6.5k in the pot
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!!!

:mad:


So as it stands as far as Iceland is concerned you will not get any of your £6.5k back, you are going to have to rely on tax payers money to get it back. Yes people should have not put over £35, 000 (last week) £50,000 now, but they did, so why is it fair to get your money back and they not get theirs.

I & my husband stand to loose all our Icesave savings, (within the savings limit, but both our monies come within the Iceland scheme) so if my country backs my savings I am grateful, why shouldn't we then help others, maybe they wouldn't get it all covered, but where is your compassion at a time like this, we are talking about peoples future here!

rabbitmoon

Well thats that - after Darlings comments, I'm confident now we'll get our money back.

Browsing back through the board at last nights comments, there was a lot of people enjoying being on this thread who clearly didnt have Icesave accounts, but were out to say "you wont see a penny of it" and "serves you right" and "why should the tax payer bail you out" and "thats what you get for being greedy".

Panic and hype really brings out the worst in people.

cs15

we await the announcement...
it good for us savers the govt will cover it but they should get this money back off the Icelandics and if not the Nordic countries who according the Icelandic statements on MSE promised to cover this, UK should not have to pay.

northern5

Meadows wrote: »

:mad:


So as it stands as far as Iceland is concerned you will not get any of your £6.5k back, you are going to have to rely on tax payers money to get it back. Yes people should have not put over £35, 000 (last week) £50,000 now, but they did, so why is it fair to get your money back and they not get theirs.

I & my husband stand to loose all our Icesave savings, (within the savings limit, but both our monies come within the Iceland scheme) so if my country backs my savings I am grateful, why shouldn't we then help others, maybe they wouldn't get it all covered, but where is your compassion at a time like this, we are talking about peoples future here!

You're misunderstanding me ... I am glad that everyone in your situation is going to be helped by the government. What I am saying is that I don't think its fair that the govenment/us tax payers should just sit there and dole the cash out... I think they should go after Iceland and all their investments around the world and go and get them!

I hope this lunchtime announcement puts all our minds at rest AND details exactly what is going to be done about it.

BiteOfTheApple

Thanks to everyone on this thread, for their advice, it's been a real blessing to me and my wife over the past 2 days.

So just to clarify (sorry!), if this announcement today confirms the UK will stand for all the Icesave money, everyone will be saved, including us poor souls with more than 50K?

Scooby64

OK where's all the idiots who were scare mongering yesterday.

Why don't one of you grow a pair and come back and apologise?

You caused much fear and distress to some readers here - I said all along that the UK/EU would step in to pay claims. In some ways that vindicates the people who invested in Icesave. If the FSA had clean hands they'd have done nothing, but they took assurances from Iceland which were worthless.

That said, I'd be surprised if Iceland don't honour the scheme in some way (even if UK pay it and it gets refunded over several years). Without that they'll be ostracized from EU

Scooby64

from the BBC

Primer Minister Gordon Brown said the UK would take legal action against Iceland over its failure to guarantee compensationvPrimer Minister Gordon Brown said the UK would take legal action against Iceland over its failure to guarantee compensation

They'll pay......one way or another, they'll pay!

S3quence

cs15 wrote: »

we await the announcement...
it good for us savers the govt will cover it but they should get this money back off the Icelandics and if not the Nordic countries who according the Icelandic statements on MSE promised to cover this, UK should not have to pay.

The UK government will pay the compensation and then go after the icelandic authorities for it!! This is obviously a better option for everyone involved.

Unless you fancy your chances trying to get ur money back form iceland?

As for the people who seem happy to gloat in the faces of people like myself who have money in icesave i hope u live really happy lives and that you never have the misfortune of facing the possiblilty that you lose all the savings you have for your families support. Im sure you would be different if it was your bank thathas gone under

in_limbo_jimbo

RossDargan wrote: »

I am! My money transferred from my isa yesterday morning:mad: !! gutted.

It still has not appeared in Icesave (and there is no way for me to recall it!). I called Icesave and they said it can take a little while to come through, but it will apparently.

Ross

Just spoke to Natwest and have got my closing balance and apparently they sent off a cheque on the 23rd of September to Iceland. Presumably the wonderful UK post will have let that cheque float around for about a week or so before Icesave/Landsbanki receive it out in Iceland. Then I reckon Icesave would have taken atleast a week to process it before... we get interrupted by the current situation we're in.
I'm just praying the numbers crop up into the Icesave account so then at least getting compensation is one step easier. As it stands, it looks like a few grand have just disappeared into thin air.