Icesave and the BACS system......question

isofa

Equally I have a question about CHAPS if anyone knows, say you initiate a transfer in the afternoon of a day, will the money be expected to arrive late that same day, or within 24 hours?

Patr100

Let hope we get confirmation soon and use this thread to report if it happens for us. Good luck everyone.

Realy

Same here transfered last night. It as left my account and the account is now closed. (can't access it and I dont have a print out:o)
But they have asured me it as left them and if it does not go through the account will be re-opened.
Have to wait and see I suppose.

As for blaiming depositers for a run on the bank!:rolleyes:
I dont think anyone in the UK wanted to find out if they will get their moneyback or not!
I think their PM yesterday made it pretty clear what you should do!

hra_2

I did a CHAPS transfer of most of my account balance just before 8 this morning to Nationwide but left my account open. Logging in just now, the transferred amount has gone from Icesave. Nationwide has not (yet) received it but will keep checking.

Griffboy

valiant wrote: »

That would be less than three full working days. Seems unusual. Which bank did you receive the money into?

Abbey National.

valiant

bradshaw_chris wrote: »

I just got through to Icesave on the phone. She said (and I quote word for word):

"All transactions made before 9am today I]Tuesday 7th[/I are being processed as normal"

Good news, but it contradicts what another Icesave spokesperson said, which was reported further up this thread:

Q: I managed to withdraw my money from Icesave yesterday, but they say it takes four days to transfer. Will my money come through or will Icesave retain that cash because of today’s freeze on accounts?

A: An Icesave spokeswoman said she did not know for certain, but as the transfer process takes several days and things came to a halt today, there is a sizeable chance that the money will be stuck in the system.

It looks like a case of the old 'headless chickens' syndrome is gripping Icesave. It seems inadvisable to trust anything Icesave say from now on.

Griffboy

Tom_Jones wrote: »

Yeah but it's idiots like you and the others in this thread that have caused Icesave to go tits up.

Have a bit more abuse :mad:

So if I didn't they wouldn't be in trouble? Don't be an idiot. You can call me what you want, I didn't listen to you than and I'm not now. I made a decision and drew it out, and that seems to have been the right decision.

Realy

Oh poo.

http://money.uk.msn.com/investing/articles/morecommentary/article.aspx?cp-documentid=9980760
Does not look good I hope somone gets their chaps today as that would mean they were automated. If they only went on at 9AM this morning I am not holding much confidence.

Also perhaps the most important.
http://www.fscs.org.uk/consumer/

Seamus17

Withdrew most of our money from my Ice a/c & wife's at 9pm Monday 6th, Used Bacs for two and Chaps for two. Ice save accounts show the money taken out but no sign of any thing in Barclays yet

Meadows

There is no guarantee that the monies transferred will get to our accounts, I have just been on to my bank to ask how transfers (Bacs) work and was told that it basically leaves Ice save and sits in a holding account for a few days before arriving in the transfer account.
And also it depends on how Icesave do their transfers, basically it could be showings as left our accounts, but they may only do the transfers once a day, at the end of the day!
So although we are showing as funds actioned they may not have even left Icesave.