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

samizdat

samizdat wrote: »

I applied to transfer my ISA from Icesave a couple of weeks ago and received a letter from Icesave on Saturday latest to say that they had sent a cheque to my new provider. However, this cheque would not appear to have arrived and, even if it does arrive, I am unclear whether the cheque will be paid.

My account with Icesave seems to have been closed for a few days now.

An update in case there are others in my position: my new provider has told me that they applied a cheque from Icesave to their ISA suspense account yesterday, 7 October. They have said they will let me know if the cheque is returned unpaid, as I assume it will be. I am a bit concerned that, since my account with Icesave has been closed, I may now be regarded as just an ordinary creditor of Icesave and may therefore fall outside the scope of the protection being offered by the UK government. I suppose I will probably get my money back in the end but I hate to be an unusual case at times like these.

marigold18

We transferred our savings out of Icesave on Sat 4th morning (a good few days before they stopped transactions), but no funds have materialised in our bank account, although the Icesave account said zero and 'closed', so where is our money? It's almost more worrying than it being still in Icesave, at least we would know where it is. Is there anything we can do to find out? Have tried emailing but to no avail.

Katie-Kat-Kins

Martins_A_Fraud wrote: »

Agreed!Martin Lewis is a fraud! He tells people to apply for credit and move their debt around and not actually tackle their debt problems.Martin Lewis was caught out on LK today this morning with his Finacial advice, I laughted my head off, His advice is so questionable it is almost unbelievable.Some of his advice breaks by-laws (look on the railways advice page he did) Martin got the most revenue from recommending ICESAVE, It might not have been the most secure bank but Martin recommended it because it come with the biggest kickback. The MSE'rs who fell for his poor advice are the ones loosing out, It is entirely Martins fault, He says this site is not for profit but he makes his cash from this site, he makes a living from this site and this is ment to be not for profit? hmm....

And that is defamation!

You clearly do not read the site properly if this is what you think! To be honest I am shocked that people have reacted like this.

The advice clearly states that recommendations are on the basis of rates alone - other issues such as security are mentioned though and it is up to the individual whether to take the advice or not. Martin hasn't held a gun to anyone's head. You invested your money where you thought was best, you only have yourself to blame!

The site's advice first and foremost is to reduce your debts, the advice about moving money around is to assist people in reducing their debts in the most efficient way possible. If some people use the advice to avoid the issues of their debt that is their look out!

Get a grip people! You are all adults!!!

And check your facts unless you have the spare cash to defend a claim for defamation.

lewisdog

Many posts regarding transactions that have not completed yet - in my case I instigated a CHAPS transfer on Monday night which was processed 7/10/08 (and £30 deducted). This never arrived and I have spent the last 24 hours fretting about it. However I have just logged onto Icesave and it is now back in my Icesave account, which while obviously not the best result at least it is visible somewhere.

You may want to check your account again if your are in a similar position.

Who says politicians can't buy votes. Alistair has bought mine.

maiddaisy_2

I was reading this blog last night, worrying about my £32K, as you do, but too tired to comment. Much happier now, having seen and heard Darling promise to recompense all Icesave customers.

More importantly though, Martin, I read your site, with all the warnings and I made the decision to invest with Icesave, but to keep my investments below the £35K limit. It was my decision and, if I lose out, I will not be laying the blame at your door. Thank you for your good advice and for providing a website where others can discuss moneysaving ideas and other ways to get a bargain.

Paula1

Is any one having difficulty logging on to Icesave? On Martin's recommendation in his email I've just tried to access my account to print off a copy of my statement. Tried twice but unsucessful.

Edinburghlass_2

Keep an eye on Martin's article here, its being updated with any/all new news as it comes in....

http://www.moneysavingexpert.com/savings/safe-savings#iceland

roxalana

Paula - keep trying - it took me a lot of goes too.

mpw1974

lewisdog wrote: »

Many posts regarding transactions that have not completed yet - in my case I instigated a CHAPS transfer on Monday night which was processed 7/10/08 (and £30 deducted). This never arrived and I have spent the last 24 hours fretting about it. However I have just logged onto Icesave and it is now back in my Icesave account, which while obviously not the best result at least it is visible somewhere.

You may want to check your account again if your are in a similar position.

Who says politicians can't buy votes. Alistair has bought mine.

Thanks - I am in exactly the same situation... paid the £30 for CHAPS transfer on Monday evening and have been wondering where the funds had disappeared to as they had not appeared in my linked account. All funds (including the CHAPS) fee now returned to my Icesave account.

On the BBC site : http://news.bbc.co.uk/1/hi/business/7658417.stm -

As part of its plan the UK government has frozen all the British assets of Landsbanki until the position of savers in the UK becomes clear.
...
"The Icelandic government, believe it or not, have told me yesterday they have no intention of honouring their obligations here," said Mr Darling.

Suppose we just have to wait and see how long it takes to get the cash out of the FSCS.

M

stantic58

Fair play to the Chancellor for guaranteeing our deposits but I guess it is now in his own interests. When we all eventually get our money back, as mentioned in a few posts, no one is going to risk putting it into an overseas bank now so I guess we will go for a UK Bank...and who now has shares in all of those?? Unless I don't understand the Financial markets fully, wouldn't the injection of cash from the Icesavers be good for the banks and hence the governments investment?? Please correct me if I'm wrong!