Icesave - will withdrawals still go through

scootermacc

Does anybody know if any withdrawals/transfers made before the 'temporary' stopping of them will still go through? I transferred money out yesterday which should clear in 4 days. I am assuming they will have to honour those withdrawal requests, but am obviously nervous.

galileo

I'm in exactly the same situation, I made a withdrawal request late last night to be processed this morning. Am not sure whether I've done it just in time!

luvpump

Nobody knows, You will just have to wait & see !!!

tom_foster_2

I came on here hoping to find the answer to this question too. I withdrew a fairly large sum yesterday lunchtime, and would like to know if this will be honoured?

PJD

I'm also in the same boat! ICESave phone number is constantly engaged suprisingly enough.

manhattan

I transfered on Sunday night. Will let you know either Wednesday or Thursday.

chaotic_j

I transferred last night via CHAPS and it hasn't shown up yet. Rang IceSave a few mins ago and got told they are waiting to hear back from Landsbanki so he couldn't tell me whether or not I'd get my life savings back. Great stuff.

romfordboy

I have spoken to an Icesave represenatative today who has advised that no BACS or CHAPS payments have been made since Sunday.

In response to my "what happens next?" question, I was advised that Icesave is waiting for direction from the Icelandic government to affective lift the 'no-access to account' status. Until such time us savers have to sit and wait.

[Deleted User]

I closed (Or at least I thought I had!) my ISA with icesave last night, and used CHAPS.

JUST a few mins ago I was on the phone to ICESAVE, and told that ALL CHAPS withdrawals due to happen today, will NOT go through, and they will "bounce back" (Their words) soon....

My ISA a/c appears to have vanished when I log in, and obviously the balance is not showing on the screen either. However, I was told that the ISA A/C and balance WILL reappear soon, as though I never closed the account. It will be as though it never happened.

I was also told that INTEREST will still be applied until further notice.

I had NO plans whatsoever to close my a/c, UNTIL I read the icelandic PM's address to the nation last night.

I have calmed down since, and in a way, I'm pleased that I do at least still have an ISA! Let's just hope that somehow, that icesave can stay operational.

What a day...

DuckMatt

galileo wrote: »

I'm in exactly the same situation, I made a withdrawal request late last night to be processed this morning. Am not sure whether I've done it just in time!

Same boat here - Luckily for me I didn't invest a hugely substantial amount of money in this bank.

I feel extremely sorry for those who did if the rumour mill is true.

scootermacc

To put this in context, I have £7000 in Icesave, and feel comfortable that compensation will cover me for this (i feel sorry for your guys with the big amounts in, I hope your savings are safe...).

In my case, I need the money to pay off a 0% interest credit card 'stooze' - waiting 3 months for compensation will not only be a hassle, but could now cost me interest on the credit card.

You could take the opinion that is serves me right for playing the system, however I have broken no laws here, just become a victim.

I can understand Icesave putting a temporary stop on withdrawals given the current climate, but question the legality of refusing to honour legitimate withdrawal requests prior to this. Maybe someone with a legal qualification can help?