ICESAVE - What is covered?

Fella

CompletelyLost wrote: »

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...

When did you initiate withdrawal?

CompletelyLost

Withdrew last night at about 2am.

Richard_Cocks

Did they wait until Tuesday because of the fact it was today that it went from 35 to 50k for UK depositors?

$nake_eye$

So what happens now? Do we just sit tight and ride it out? Guess theres not much else possible. Is it still worth taking the ISA transfer form down to Natwest..?

KingL

Richard_Cocks wrote: »

Did they wait until Tuesday because of the fact it was today that it went from 35 to 50k for UK depositors?

The icelendic govt had emergency talks over the weekend, and passed the necessary legislation yesterday. More likely to do with that. But a happy coincidence, eh?

outof

$nake_eye$ wrote: »

So what happens now? Do we just sit tight and ride it out? Guess theres not much else possible. Is it still worth taking the ISA transfer form down to Natwest..?

Hehe. I was wondering that, after a rueful hopeful fashion. A torturous ISA transfer process would be far more preferable than the state we're now in. Or how about this hopeful question. What interest will I get on money accrued to date? Will I be able to keep the money in an ISA or will it come as a cheque.

No stuff all that. Will I get any of my money at all? I hope so. I hope everyone else realises that the loss of confidence that will come from depositors being wiped out en masse will far, far eclipse the loss of equity in Lehmans. Choose to wipeout savers and you'll be choosing to trigger hoarding, panic and the greater depression.

Fella

CompletelyLost wrote: »

Withdrew last night at about 2am.

My bro did CHAPS withdrawal sometime before midnight yesterday. Nothing received yet, I'll post here if it does turn up.

saveallmymoney

http://www.reuters.com/article/businessNews/idUSTRE4962ER20081007

Richard_Cocks

Which is why I still believe depositors won't lose out, guarantee or no guarentee, and which is why I still have my current year's ISA in Icesave. (I have my previous years' subscriptions elsewhere, mostly due to laziness, I had filled out a transfer form but never got around to sending it).

csiman

Richard_Cocks wrote: »

Which is why I still believe depositors won't lose out, guarantee or no guarentee, and which is why I still have my current year's ISA in Icesave. (I have my previous years' subscriptions elsewhere, mostly due to laziness, I had filled out a transfer form but never got around to sending it).

Note the bold type:-

"Domestic deposits are fully guaranteed, as declared by the government. Landsbankis domestic branches, call centers, cash machines and internet operations will be open for business as usual. The objective of the IFSAs action is to guarantee a functioning domestic banking system."