Icesave HELP

spider31

Hello,

I have a few Q's about ICESAVE and the fact that they look like they are going under..

I have about 10K in the ICE and I cannot get it out, I understand that the government (ours and Iceland’s) will cover this amount of money, but.... I need some of that money NOW.

I do what most people do, use a credit card, buy stuff, pay it off.

I have about 1200 on my card, I need to pay it off, If I cannot get at my money I will get charged interested.

Will ICE cover this interest?

it gets more complex, the ICE is under my partners names and my credit card is under my name, this is for the usual tax reasons.

Thanks

Steve

vonlance

i also have an isa with icesave.

watching sky news right now they are stating 95% of uk savings are protected.

mine was transferred a week ago from alliance...regretting that now.

just sit and wait i guess

all the best spider31

freddysmith

Did Icesave force you to spend £1200 and put it on your credit card?

ebyard

Basically Steve, you, like the rest of us, are screwed until this sorts itself out.

There is no way you can get your money out until they either allow withdrawals again (and then watch the run on the bank) or the compensation scheme kicks in. There is some debate as to IF people with smaller value savings are covered and if so, by which scheme.

Keep watching the news but don't believe everything you hear. BBC & Sky are scaremongering like never before, News 24 etc should be shut down for a few weeks whilst this blows over.

[Deleted User]

spider you are going to have to bite the bullet.

I need our icesave savings to live on for the next 4 years but I feel calm now as I believe we will get the money back. In the meantime print your icesave statements so you can get on with filling the fscs form, when it is available

spider31

freddysmith wrote: »

Did Ice save force you to spend £1200 and put it on your credit card?

No, but as most people did, I got the best saving deal. And I get cash back on my credit card.

As for spending 1200, I am going through a divorce and that was last month’s legal fee. I have 10K in the bank as that’s my divorce fund, if I cannot get to my savings its going to get a little complicated for me.

I opened the ICE account under the impression that it was instant access; they have now removed the instant access part of the account.

Mmmm, maybe my solicitor will understand when I pay my next bill late

Steve

spider31

kittie wrote: »

spider you are going to have to bite the bullet.

I need our icesave savings to live on for the next 4 years but I feel calm now as I believe we will get the money back. In the meantime print your icesave statements so you can get on with filling the fscs form, when it is available

I have printed them out, I think that’s very good advice, I think that should be in the article "Are your savings safe".

Steve