Icesave - will withdrawals still go through

Hillfly

I too am waiting after CHAPS it out yeserday afternoon........only time will tell but I am a bit scared as it's neither here nor there.

I think not knowing where it is is worse than knowing!

Interesting we have conflicting info here from ICESAVE on what's happening to these payments. Perhaps someone at MSE HQ could find out for us?

hari2000

thanks st. I wish I had done CHAPS instead of BACS as will mean a few days of worry till Friday now. I really didnt think it would come to this. I hope that what that nice icesave woman said is true and that they wont just suck my money into taking care of Icelandic savers and deposit holders...

Plasticman

MIKELSOK wrote: »

I don't relish the thougt of having to learn Icelandic in order to complete their compensation claim forms.:eek:

LOL :rotfl:


The good news is that the FSCS have indicated that they will process claims, so no need to learn Icelandic

The two worrying questions are whether the Icelandic government can afford it, and what happens to those (including me!) who have money 'in transit' via BACS!

david78

I have a little under £6000 with icesave, mostly spread over 1-year and 2-year fixed rate accounts and £850 in the Easy Access account. No ISA with them, fortunately.

This morning I managed to withdraw £800 from my Easy Access account before I went to work. (I just did a BACs transfer out.) This is showing as processed on the account, but it could be reversed tomorrow I suppose.

The other thing is that I was credited with interest for the first anniversary of one of my 2-year fixed rate accounts (anniversary of opening was today: 7/10/08).

madeupname

150k in Icesave. Transferred £100K by CHAPS 7pm last night. Nothing in bank yet - I don't hold out much hope of either seeing this, or the first £16K of compensation.

I'd be delighted to be proved wrong, but suspect the "Nice girls" at Icesave will probable have said anything to get through the mountain of anxious callers this morning!

Life savings to pays for kids' education, disabled kid's care and decent home - shame. Should have borrowed and spent! Or has capitalism lost their way?

br1anstorm

This thread covers very much the same subject as another one at
http://forums.moneysavingexpert.com/showthread.html?t=1205477.

Could the moderators link, or merge them? This would help us all find our way through the massive collection of threads and posts on the current Icesave crisis.

And indeed why not shift all the Icesave threads into a separate subforum, since the problem is generating such a large number of comments?

br1anstorm

manhattan

Just checked my online bank account for any sign of my icesave money.

Nothing there!

I withdrew from icesave on sunday night but it stated that the payment would be processed on monday at opening.

So it is now wednesday and no sign of the money. I will have to check again on thursday. :eek:

Toastie

Unfortunately my money (only £1225) is in there still. I found out about Icesave having problems after college, i'm not overly fussed. What's done is done.

I did on monday night log in to withdraw my account savings and close the account so i can access my money. However i have 'rejected' in the trasnfer box. I don't know if this is much help but as long as you have under 35K *i know it was bumped up to 50k but the timing of higher safety and the problems with icesave seem a little coincidence*

I hope those who have withdrawn there money get it, i see no problem leaving the money with them but i'm guessing landbanki will be sold off due to scare mongering and pathetic posts and journalists causing millions to be withdrawn.

Any way good luck to those with BACS

Simon_Robson

I just signed up to this site to let those concerned know what i just found out at 10.30am on Wednesday 8th October:

Like the rest of you I had money (£34k) in transit from Icesave to my UK current account. I initiated a chaps payment on Monday 6th at around mid-day. My Icesave account showed the money having left on Tuesday and the status as processed. This morning i had still received no payment to my current account.

I managed to speak to someone at Icesave who said the following; No money has left any depositors accounts since around mid-day on Monday. Although my account shows the money has gone and the transaction as processed, this is not the case. I have been informed that the money will be transfered back into my Icesave account via BACS and will show up there in the next few days.
I guess I'd feel better about at least having this money show up in my Icesave account, no matter what state they're in, rather than have it lost in the ether...

I then spoke to a representative at the FSCS who didn't have much to add to this information, but tried to re-assure me that my money wouldnt be lost and would turn up somewhere.

So that's it as far as I know. If your money doesnt show up in the destination account, then it should re-appear in your icesave account in a few days. I guees we have to wait and see.

Good luck to you all,

Simon

Simon_Robson

Just to add to the above; I recently spoke to a friend who went through a very similar debacle with Northern Rock a year or so ago. He mentioned that through a similar website to this one, he and quite a few other savers got in contact and were able to swap stories and information that helped. So in the spirit of collaboration, my mobile number is: 07947 429929 if anyone wants to talk about the current Icesave situation. Thanks, Simon