'Icesave... angry, frustrated and upset...' blog discussion

ctoneman

I withdrew my savings from Icesave on Sunday and just left a few quid in to keep the account open in case they actually pay any interest.
I can see that the money has left the Icesave account online but as of yet hasn't popped into my UK account so a bit worrying for another day or two in case the moneyy is trapped in the ether somewhere ! :eek:

Blame Martin ?...I think not, he is one of the few that always gives warnings about responsible decision making

20thcenturycat

Just read Martin's blog. As far as I can see he has nothing to have regrets about. His advice has always been clear. A couple of times I considered Icesave but changed my minds simply because of Martin's information about safety. He always seems to be impartiality and transparency itself and it's interesting how a lot of the negative comments seem to come from people who have joined in the last day just to rant about this issue.

jamtart6

I don't see anyone moaning about Martin when they got top rate interest on their savings, so why moan about it now?

I considered Icesave and Kaupthing for their interest as pointed out by Martin but ultimately he hasn't forced anyones hand and therefore I made the DECISION to not go with Kaupthing/Icesave (because I hadn't heard of them) thus losing out on several percentage of interest. It was my fault that I lost the interest by not putting money in there, so it would have been a risk I had taken if I had put it in there - no one elses fault!

For those who have lost money, it obviously isn't your fault for the way that the banks in Iceland have gone and I thoroughly sympathise with you, and fingers crossed you get the money back, but someone pointing out a top deal isn't to blame for the problem!!

IcesaveSteven

Can we please stop going on about Martin and concentrate on the issues? of course it's not his fault! great guy does a great job - not can we move on? let's make sure we get our money back... thanks

codger

A quick plea:

can the mods PLEASE do something about embittered and irrational posts from people who though victims of the Iceave mess are most certainly not victims of Marrtin Lewis or this website? I'm getting sick and tired of reading their rants.

As we would do best to look forwards rather than backwards, has anyone on here yet registered just exactly what the Chancellor was on about this morning?

Darling's revelation that the Icelandic Govt is now to renege on its promises is -- if true -- one of the most astonishing I've ever come across in contemporary political life.

And if -- IF -- Darling is now saying the UK will now stump up every penny "lost" to IceSave, then what's the quid quo pro? A first charge on the Icelandic fishing fleet?

Every day I think "you couldn't make it up". And every day, yet more fact outstrips any fiction. . .

Chilly20

Hello

I am an Island citizen living in the UK and have my life savings with Landsbanki. I do not know what will happen to my savings although the government has said deposits are guaranteed but I am not exactly certain how things will play out. The company has been restructured and even fund managers have no clue what will happen next; Directors were send home the other day and we cannot withdraw more than 20,000 Kr (about 2,000 GBP). It is very worrying.

I fear that UK investors in Icebank etc will lose their savings and that only the compensation scheme is open to them. This may happen in other countries and many more banks could be nationalised to some degree. It is sad that people could lose everything over 50,000 GBP! The system was falling apart and the government had to save the financial structure of the entire country!

Even the Island people do not know what is happening to their savings, investments and pensions at present. I hope that this situation does not happen in the UK as the government will not even safe savings of UK citizens above 50,000 GBP. It is all a very worrying situation but probably has not come as a very bit shock to the ones in the financial institutes.

I wish the best and that people at least recover most of their savings.

lilmismayhem

Absolutely agree with 20thcenturycat here. This is not Martin's fault, he, unlike most others, clearly explains the pros and cons. We make our own decisions. I used to be an IFA and still work in financial services so more than most I should understand the T&Cs and how these things work. There were two guarantees in place which totally covered the money both myself and my husband placed in Icesave. Without Martin's warnings even I wouldn't have been aware that the compensation was split across two schemes or what the limits were. We cannot blame Martin for Iceland's decisions as a country. Everyone who uses this site has saved money because of Martin and he will stand by us and keep us informed of what we need to do to get our money back. With his clout I am sure he will be the first to know the process and will argue our case to have it done as speedily as possible. We should thank our lucky stars we have someone like Martin on our side. Those blaming him should be ashamed of yourselves.

TypeR

I had £33,000 in Icesave and I'm delighted that we're essentially getting bailed out - the one thing in 11 years of Labour Government I'm truely truely thankful for.

Slightly off topic though, to me the Passport compensation scheme looks to me like a serious serious risk. I'm not going through this again, anyone that's not got FULL UK Compensation via FSCS can whistle for my money.

The precident has been set here, the country offering the initial guarantee of 20,887 euros has stuck two fingers up to it.

I'll never ever trust it again.

As far as Martin goes, I back him - we all had a choice, we were all wrong to chose Icesave.

membargo

Did I not hear the Chancellor say to the Today programme that he had been in touch with premier Iceland who said Icesave was unlikely to have the money for their share and I understood the Chancellor to say that the UK Govt. was going to cover it all in that case.

IcesaveSteven

Daily Telegraph - Darling to secure ALL savings including above £50,000

Gordon Brown confirmed that the Government was taking legal action against the Icelandic authorities to get back the deposits of British savers in Icelandic banks. He said he would "stand by these investors".
Speaking on BBC Radio earlier, Alistair Darling, the Chancellor, said he was making a commitment that about 300,000 Britons would be given special protection following the nationalisation yesterday of Landsbanki, the parent company of Icesave.
The Chancellor’s guarantee means that savers will not lose out even if they have more than £50,000 in an Icesave account. Last week, the Government increased its guarantee to savers from £35,000 to £50,000.
Icesave is understood to have about £4bn in deposits, with many customers speaking of their anxiety over the safety of their cash. Yesterday, British customers were unable to access their online accounts with the bank.
ore than £50,000 in an Icesave account. Last week, the Government increased its guarantee to savers from £35,000 to £50,000.
Icesave is understood to have about £4bn in deposits, with many customers speaking of their anxiety over the safety of their cash. Yesterday, British customers were unable to access their online accounts with the bank.