Icesave-please help/advice!!!!

Scooby64

BiteOfTheApple wrote: »

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?

Yep - listen to the speach this afternoon for more details, but your money is safe.

I'd expect any bank relying on passport schemes to have to go "full license" now, but I think ICCI & KE already hhave full cover under the UK scheme

rabbitmoon

One things for sure - I wont be listening to Bjork or Sigur Ros again without a tinge of bitter frustration.

S3quence

BiteOfTheApple wrote: »

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?

Yep Mr Darling said everything 100%

The BBC reporter said is that just the £50k limit and he said no 100% of everything will be covered

Meadows

Icesave's parent bank, Landsbanki, was taken over by the Icelandic government on Tuesday and declared insolvent.
The internet bank has about 300,000 customers in the UK.

"We guarantee that no depositor will lose any money as a result of the closure of Icesave," said a Treasury spokesman.
As part of its plan the UK government has frozen all the British assets of Landsbanki until the position of savers in the UK becomes clear.

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

Scooby64

One other point - to BiteoftheApple (and anybody else!) - Learn the lesson and start moving your savings to less than £45K in any one institution (allowing some headroom for interest)

We live in dangerous times;)

S3quence

rabbitmoon wrote: »

One things for sure - I wont be listening to Bjork or Sigur Ros again without a tinge of bitter frustration.

Yea! and im never trusting Kerry Katona again!!!!:rotfl:

Meadows

S3quence wrote: »

Yea! and im never trusting Kerry Katona again!!!!:rotfl:

:mad: Ha Ha , not very funny :mad:

northern5

Yes there were a few people spouting doom and gloom... and a few months ago then I would have probably believed it! As Mr. Darling said, these are not normal times and luckily it looks like the government are going to take action.

As this is the first time a bank has (potentially) collapsed, I think I'm not going to be alone in sticking to the spreading rule. If and when I get my money back from icesave, I will not be putting all my eggs in one basket again, even if it is only £6.5k!!

Sadly, as I have lost confidence in non-uk based banks, I am just awaiting my funds from Kaupthing. I know it was safe there with the protection, but I am not prepared to be in a situation where I can't get to it until the bank collapses and then someone works out how long it'll take!

ginjo49

The passport system now needs to be srcapped as it has proven it is not worth the paper it is written on, and how did our financial governing department not work out that Ice save would never be able to afford to pay out in this eventuality. The pot was never full enough to compensate us all from the very start

edwinac_2

Scooby64 wrote: »

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

What are you feeling so pleased about?!

The Best Case Scenario is that people have lost access to their cash for many months, at least. Some people planned to use their money for immediate needs, one person was about to buy a house. Those plans are now in tatters.

And what of the lost interest? What about the lady who told this forum only this morning that she had £500,000+ "invested" in Icesave?

Optimistically, let's say it takes six months for her compensation cheque to arrive (but being a large sum, it could be one of the last to arrive..), that lady has essentially lost around £15,000 in gross interest.

A loss that is not to be sniffed at, is it?!