Icesave

Mr_Cynical

I opened an account having read on here it was safe. What a fool I and anyone else is to believe this Martin Lewis, he doesn't know what he is talking about.

IT_nerd

Technically it is safe. You'll still get your money back. It will just be a hassle..
As long as iceland doesn't go bankrupt, and with Kerry Katona as their spokeswoman that isn't going to happen

Stavros_3

Incoming !!!!

Mr_Cynical

Yes as you a say a hassle which I shouldn't have to go through if so called experts like Lewis kept their ill researched opinions and advice to themselves. No doubt I will lose any interest I might have received until this gets sorted meanwhile those socalled regulators and the directors at Landisbank will still be getting paid a massive bones etc etc

merseyscouse

mr cynical.... all the info was there regarding risks and safeguards...i have all my savings in this bank £30k...i read the risks and will have to take it on the chin in the very unlikely event of me losing out.....no use blaming anyone but yourself!!!

mgical

This website has helped many off us save money and get the most out of things. The advice is clear, and if followed your money is safe.

Lets not insult people, take a breath and wait to see what will happen. Either the accounts will reamin open, or the savings (up to the limits) will be covered by the schemes in place.

Matt

mobfant

Mr_Cynical wrote: »

What a fool I [am]

Can't argue with that. The risks were pointed out to you (and me, and everyone else) and we decided to open an account. You had the choice, you could have withdrawn yesterday, there were options open to you and you chose not to. Plus, you don't even know if you've lost any money yet.

Broadwood

Sorry Mr Cynical - It's wrong and very unfair of you to blame Martin Lewis for your decision to open an Icesave account. Only death and taxes are certain in this life. You went for Icesave because you wanted the highest possible interest rate. Your money is guaranteed up to £50000 but it may take a while to get it back via the FSCS. If you wanted peace of mind then you should have gone for less interest in 100% safe places like National Savings or Northern Rock both owned by HM Government (incidently, as advised repeatedly by Martin Lewis). Ultimately we as individuals are responsible for decisions which we take.

Nomad25

Falling into the usual trap.................when things don't go to plan, start whining and blame someone, anyone, but never take responsibility for your own actions.

You're looking for a scapegoat and I don't any justification in directing your anger at Martin.

Don't be such a plonker.

Sam37

I actually pulled out -within the 14 days- of my Icesave ISA, after reading the info on MSE months ago... It certainly didn't say it was absolutely totally safe without any qualification.

I'm now very grateful for the info provided. So Thanks MSE.

juliusceasor

Mr cynical, perhaps it should be a change of name to mr 'blame'?

As far as I am concerned anyone that saves is prudent, if your money is placed in a regulated bank, if that bank has authority to operate an isa or an account in the uk, if the bank is profitable and its ratio of deposits to loans were as good if not better than many in the UK then your/ our money should be safe and protected. Pointing fingers and blaming names is not the answer, we're all adults responsible for the decisions we make, There was a risk but the risk looked less problematic with the last lansbanki quarterly figures, the problem seems to be the market as a whole, if it keeps on no bank is safe.

Patience, and less panic would help, difficult I know, i'm in the same boat, I don't think my ISA transfer will have gone through in time either. I do not think the UK government will let savers lose money, but they haven't compensated the equitable members so I do hope it isn't a forlorn hope.

I think with the number of high street shops linked to the bank I think it will have to be properly rescued or the effect on the whole economy will be devastating.

Regarding the £88m protection, there is no money in the uk compensation system as far as I am aware only the governments promise. Iceland is supported by its government (sigh) but also the scandinavian banking system.
If things are so bad that they can't rescue it, then I think no money will be safe, anywhere and any money there is will have little value because the banking system will have gone.

Time will tell.