Iceland nationalises Landsbanki

Fella

I think the devil is in the detail here.

If the Iceland Govt simply nationalises Icesave & carries on business as usual then CHAPs withdrawals should be fine.

On the other hand, if the Iceland Government tries to say that it has in some way invoked it's equivalent of the FSCS here, then presumably they may suspend all withdrawals indefinitely?

I don't know what's correct.

blizeH

TDS wrote: »

Oh Jeez...

There goes my ISA savings. Sweet.

Why do you say that? Am I being incredibly thick/ignorant in assuming that this is actually a good thing?

Hillwalker

Reuters says that the bank has been placed in the hands of "Recievers" which I understand means it's gone bust and is up for sale/desposal.

The FT says it has been "Nationalised" which I understand means that it has been taken over, and will be run by the government.

Does either way make any difference ?
Does anyone have a different view/interpretation of the situation ?

very worried
Andy

ps
I was hoping one of the moderators would have consolidated all the various threads on this topic !!

Also, that we would hear some words from our Guru (Martin)

grumpyoldman_3

Trying to get thru to KE to withdraw from a Term deposit account.You've guessed it.Not a hope of getting thru on phone.I guess its a matter of hoping things turn out OK

Stompa

isofa wrote: »

I imagine there is a massive backlog, with so many people withdrawing, if you initiate CHAPS before midday, it should arrive in the nominated account on the same day.

Yes, I put it down to the system being under severe stress. I actually set it up on the Sunday, so would have hoped it would have been initiated first thing on Monday - but in the present circumstances who knows.

LGG_2

Reuters says that the bank has been placed in the hands of "Recievers" which I understand means it's gone bust and is up for sale/desposal.

The FT says it has been "Nationalised" which I understand means that it has been taken over, and will be run by the government.

all major aritcles say it been nationalised.frankly from previous experience i wouldnt trust what reuters say.their reporting of the facts and details of issues is rubbish

Dealmad

grumpyoldman wrote: »

Trying to get thru to KE to withdraw from a Term deposit account.You've guessed it.Not a hope of getting thru on phone.I guess its a matter of hoping things turn out OK

I got through in the end , just kept redialing , bloke gave me an attitude and said my money is safe , i said im not intrested i just want to withdraw like ive requested.



He said then he will do BACS today , annoyed at myself as this is slower aint it?

Logged on to my account again and i can still see no action been taken yet.


I dont care what others say , its my money and upto me if i wish to withdraw

angelus

Patr100 wrote: »

Unnecessary threads ie repeated "news" or comments which could have gone on existing threads still clog the forum without having to open and "read" them.

-

Many of us here are in danger of losing our LIFE SAVINGS! and you are whining about extra threads??? :mad: Extra threads can be deleted/chopped once the crisis is over but at the moment i have bigger worries!

IT_nerd

Icesaves' phones are busy...

occamsrazor

angelus wrote: »

Many of us here are in danger of losing our LIFE SAVINGS! and you are whining about extra threads???

Errr.... which is precisely why you don't want to have to be monitoring dozens of separate threads for the information you need and maybe miss something relevant to you.....