ICESAVE - What is covered?

ahll

Yeah just spoken to them on the phone she confirm not money can be put in or taken out by phone or on net...says they are waiting for an announcement as to what is going to happen.

But don't to be concerned because everyone is covered up to £50,000

So it seem there is nothing we can do

csiman

Birdie100 wrote: »

No, the codes you will need are the correct ones for the account number. It's pretty clear something serious is afoot - since the front page has been altered to say all withdrawals etc are on hold. We shall wait to see today exactly what will happen next...

So the account number I have on my Icesave ISA is what I need to put on an ISA transfer form?

Anyone know what the sortcode is for Icesave?

thanks

steadysaver

The dutch Icesave website is still up and running, no run going on their, all seems fine and dandy... maybe the dutch are less concerned then us english. Either that or they are chilling in thier cafes :cool:

bonsoirbonsoir

ebyard wrote: »

Nope, no luck on the phone.

I can log-in to the website though. I can see my money, I just can't get it!

I'm glad you wrote that! I wanted to print my details off and thought I couldn't access my account.

csiman

steadysaver wrote: »

The dutch Icesave website is still up and running, no run going on their, all seems fine and dandy... maybe the dutch are less concerned then us english. Either that or they are chilling in thier cafes :cool:

the UK site is 'up & running' but not allowing any transactions!

ebyard

This is from the Icesave website:

If we cannot pay any amount we owe you on your savings accounts, you will be able to claim compensation. The maximum compensation is limited to 100% of the first £35,000 (rising to £50,000 with effect from 7 October 2008) of your total deposits held with us (the same as every FSA regulated bank and building society in the UK). In the unlikely event of a claim.

The compensation itself is provided by two schemes (sometimes referred to as a passport scheme) – the end result being that the total amount protected is the same as if your savings were only protected by the UK Financial Services Compensation Scheme. The protection works as follows:

• The first level of protection is provided under the Icelandic Depositors’ and Investors’ Guarantee Fund (www.tryggingarsjodur.is). The maximum protection under this scheme is 100% of the first €20,887 (or the sterling equivalent) of your total deposits held with us.
• The second level of protection is provided by the UK Financial Services Compensation Scheme (www.fscs.org.uk). This scheme tops-up your protection so that the protection under both schemes, is equal to 100% of the first £35,000 (rising to £50,000 with effect from 7 October 2008) of your total deposits held with us.
• Under EU law compensation for any losses incurred due to the failure of a bank should generally be paid within three months - regardless of whether it is through a passport scheme or the UK Financial Services Compensation Scheme.

sadabbott

Landsbanski Guernsey has gone into administration. Are we about to hear the same of Landsbanki Iceland?

They are an hour behind - what time would they make such an announcement?

sadabbott

Landsbanki website is now down. I fear the worst.

robp

I've stayed away from these discussions until now. Last night I noticed that my Icesave savings were slightly over the £35k limit (may be £50k now), so set up a transfer of £10k. Didn't use CHAPS, but am now wishing I had!

Ah well, I hope they sort this out quickly. I never intended to take my ISA and all savings out, but it makes you question trusting any savings institution if they can keep your money like this.

CompletelyLost

Website won't let me log in. I sent all my money by CHAPs so I hope it arrives today or else I will be panicking.