ICESAVE - What is covered?

ebyard

$nake_eye$ 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..?

Took mine to NW on Friday - doubt anything has been done with it, though I wish it had. My Icesave account still shows my balance...but I can't get at the money!

Nala

I've had transfer forms printed off for a couple of weeks. I'm such a numpty for not filling them in and getting it sorted ***hysterical laugh*** My OH is going to be so pleased that I deal with all the money stuff. Only a few years' ISA allowances for us both sitting with ICESAVE.....

Ok calm down now. I have managed to log in to our accounts and printed our statements. It's very easy to say 'don't panic' but it's a horrible feeling, justified or not, to think that your savings could be disappearing into a black hole.

OK, ok, I'm sure we'll all get our hands on our savings eventually it's just the not knowing how long the whole process will take that worries me.

Richard_Cocks

csiman wrote: »

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."

Note that this year's ISA allowance is a lot less than the 50,000 covered by passport scheme and FSCS, why would I need a guarantee of more than that much with less than that much in there?

CompletelyLost

Well my Icesave balances say zero... CHAPs fee has been taken... so it should appear in my account today, right? As the cut off is 11am for same day transfers, and I did the transfer at 2am.

I still have this sickly feeling that it won't arrive.

csiman

Richard_Cocks wrote: »

Note that this year's ISA allowance is a lot less than the 50,000 covered by passport scheme and FSCS, why would I need a guarantee of more than that much with less than that much in there?

the passport shceme will ONLY cover domestic deposits

outof

Russia just bailed out Iceland. $4billion emergency loan. At times like these you know who your friends are....... (or at least where the missiles will be rebasing)

Megalomaniac

http://news.bbc.co.uk/1/hi/business/7656387.stm

Government has taken them over.

babylonfree

csiman wrote: »

the passport shceme will ONLY cover domestic deposits

Well the last time I checked the passport scheme still covers everyone... the only thing that has changed is domestic bank accounts (ie those of people in iceland) are now 100% guaranteed.

jp01_2

Griffboy wrote: »

Crikey, :eek: my money arrived in my linked account this morning. I can tell you I feel a little easier. Lemming? I'm not so sure. The mythical action of the Lemming jumps to it's death from a cliff. I have jumped to my survival, so the metaphor doesn't stand.

Great news well done

Think of it more like the Titanic, which struck Ice.
You got in the lifeboat.
The others are still on deck.
Whether they go down remains to be seen.

Megalomaniac

http://www.icesave.co.uk/financial-protection.html - why worry. If you have an isa, you are covered. Quit panicking, its only going to get worse if you do.