Icesave (and others) - what happens to unclaimed interest?

[Deleted User]

Hello,

My girlfriend has £19k in an Icesave ISA. The interest for the previous year hasn't been added to her account, but she'd like to know whether she now has to write this off or not?

The MSE guide was ambigious. It says that interest counts towards the £50k protected, but not whether unpaid interest would be part of any compensation package?

Any ideas?

p.s. she would post this herself, but is in a conference all day and so has asked me to investigate for her...

blizeH

If the bank does go completely under, along with deposits (please tell me this hasn't happened, I've been away for a few hours!) then if I'm honest, I'd just be happy to get the £19k back personally.

But it is an interesting question, would be nice to have the interest too.

[Deleted User]

Who knows what is happening these days? It changes every hour!

What does annoy me (I have £1k in Icesave) is that last week their site homepage said how strong their were and how they weren't exposed to Lehman etc - and how they were actually a very safe place to invest. Of course, you can't expect them to say otherwise, but now I know it was a complete lie - it makes you wonder what other lies are being spread out there.

LGG_2

id like to know as well i have intrest due at the end of this week plus an isa due in january

chaotic_j

I'm due interest next week I think, had it set to pay annually, just transferred out last night, if the money I transferred out appears in my account today will the interest I'm owed be with it too?

Just read story on BBC news where someone says they transferred out but left some money in so that they didn't lose interest???

chaotic_j

I just rang IceSave and they said that since I transferred last night they can't say whether or not the transfer will be succesful, apparently they are waiting to hear back from Landsbanki.

If it is successful I should get the interest though..