Iceland nationalises Landsbanki

sadabbott

http://www.ft.com/cms/s/0/34681bc8-944d-11dd-953e-000077b07658.html

Landsbanki, Iceland’s second largest bank, was nationalised on Tuesday as the country used new powers that allow it to seize control of public companies in the financial services sector.
Does this mean Icesave is now government run like Northern Rock?

Are we safe?

sadabbott

The move, though, will alarm UK depositors with Icesave, Landsbanki’s UK-focused account, who were blocked from withdrawing their money on Tuesday but do have the backstop of a UK guarantee of up to £50,000, which came into force on Tuesday.

Patr100

sadabbott wrote: »

http://www.ft.com/cms/s/0/34681bc8-944d-11dd-953e-000077b07658.html

Landsbanki, Iceland’s second largest bank, was nationalised on Tuesday as the country used new powers that allow it to seize control of public companies in the financial services sector.
Does this mean Icesave is now government run like Northern Rock?

Are we safe?

Did you really need to start yet another thread on the subject.....?

LGG_2

ive took money out by chaps last night. this morningthe money has left my icesaveaccount but isnt in my current bank account. the bank say it should be in by 15.00. but as transactions etc ahve been stopped by icesave im really worried that my money is stuck somewhere in the middle

posh*spice

Patr100 wrote: »

Did you really need to start yet another thread on the subject.....?

Nobody makes you read threads, you can always move along.....:rolleyes:

Thanks op;)

cwcw

LGG wrote: »

ive took money out by chaps last night. this morningthe money has left my icesaveaccount but isnt in my current bank account. the bank say it should be in by 15.00. but as transactions etc ahve been stopped by icesave im really worried that my money is stuck somewhere in the middle

Me too. :eek: :eek:

isofa

You should be ok, it'll be in the system somewhere, it can take until 5pm to process a CHAPS request, if it left the account it's somewhere in the system.

robin_banks

That's often the way with CHAPS payments , I wouldn't be alarmed yet, only if it hasn't appeared by 5:00 pm.

ebyard

Ooh the Russians have lent the Iceland 4bn Euros.

Time for our money back!

cwcw

isofa wrote: »

You should be ok, it'll be in the system somewhere, it can take until 5pm to process a CHAPS request, if it left the account it's somewhere in the system.

Does the same apply to BACS? I transferred my main account by CHAPS but also a £4k account by BACS. It shows as being processed and has left the account but with it taking a few days maybe it is less in the middle than with CHAPS. Surely Icesave couldn't nick it back though?

Stompa

ebyard wrote: »

Ooh the Russians have lent the Iceland 4bn Euros.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4897712.ece