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

CodeNumpty

I can't log onto either of our Icesave accounts. When I ask for a new password I get a message saying the account has been suspended and gives me an 0845 number to call.

I'm not going to bother. These are our cash ISAs and I will not panic. I will wait to see if I can transfer any compensated sums into another ISA to keep the tax free status. What else can I do?

Also, I took Martin's comments at face value and made a decision to invest in IceSave because I wanted more interest. I am a grown up and thank Martin for ALL his most valuable advise over the years.

jaceytee

Having been unable to access the Icesave site over the weekend, I did manage to transfer some money out of Icesave first thing on 6th and this is shown as a processed transaction in their records. However, on 8th, without my authority, they recalled this transfer. Surely this is fraud?

ThrobsBlackHat

codger wrote: »

Jon Snow has been, and remains, one of the best journalists on TV. Bar none. And Channel 4 News, still arguably the best news media on TV.

The issue for Jon Snow is that he evidently did not know who Martin was, or what he did.

He went after Martin - but on a foundation made of jelly.

Best buy tables quote rates - all of them. A best buy table that did not quote rates would not be a best buy table.

Just like flightchecker included xl.com before it went bust, if their flights were cheaper at the time the request was made.

All Martin's emails say "Disclaimer: This e-mail is based on journalistic research. It does not constitute financial advice. Any information should be considered in regard to your own specific circumstances. All tips are followed at your own risk and should be followed up with your own research"

The fact is Martin has saved consumers millions on endowment mis-selling, on bank charges rebates, on reducing the costs of utlities or insurances.

Jon Snow picked a fight with the wrong guy IMO. The only people who have lost other people money are the people who ran the banks. MSE remians the first place hundreds of thousands of people will check to find out what to do next and where they stand.

They won't find it on the news and they won't find it from the politicians, they find it from Martin and his team.

Roger_T

As an investor with both icesave and kaupthing edge I am obviously relieved to a great extent by todays events, however in common with many I withdrew the balance of my Kaupthing Edge money yesterday lunchtime by chaps and it has not materialised in my current account so it appears to be lost in no mans land. Previous messages indicate that those in the same position with icesave are getting their money back in the original accounts. Does anyone know what the situation will be when either ing or the fscs take over. At present £34 k nearly all of my savings to all intents and purposes does not exist !!

rosetree

I watched "Working Lunch" on BBC 2 at lunch time ..... Rachel Horne said that Icesave "would not be meeting their compensation obligations". Alistair Darling has said that in these "exceptional circumstances he was making a comittment to UK Icesave customers that they would get back 100% of their savings". That seems to imply that any amount will be paid back. No mention was made about interest on these accounts. Rachel Horne also said that she had spoken to the Financial Services compensation scheme and "you don't need to do anything; they will get your details and the FSCS will get in touch with you".
I certainly do not blaim Martin for anything; I am just so grateful for all the fantastic advice he has given over soooo many things. Please keep it up Martin but I hope you're not too exhausted through all this work!:A

tomterm8

Roger_T wrote: »

As an investor with both icesave and kaupthing edge I am obviously relieved to a great extent by todays events, however in common with many I withdrew the balance of my Kaupthing Edge money yesterday lunchtime by chaps and it has not materialised in my current account so it appears to be lost in no mans land. Previous messages indicate that those in the same position with icesave are getting their money back in the original accounts. Does anyone know what the situation will be when either ing or the fscs take over. At present £34 k nearly all of my savings to all intents and purposes does not exist !!

Don't worry. You will get all your money, the Fscs will write to you but Kaupthing is being handled like Bradford & Bingly - ING Direct will open a new account for you, and send you details of how to access your money.

yinhong

Martin's GMTV LK Today appearance, today (8/10/08), I assume it was after Darling's statement i.e after 8am:

http://www.gm.tv/index.cfm?articleid=31059


Martin's appear on CH4 News, interviewed by Jon Snow, yesterday (7/10/08) at around 7pm:

http://www.channel4.com/news/articles/business_money/martin+lewis+interview/2491662


These feature nothing that Martin hasn't said already, but it's just on tv, and you can judge for yourself how he seems to be feeling about the situation.

giada

My husband and I are hoping to complete the purchase of a freehold small retail business by the end of this month. Not sure who is more insane - us for borrowing all this money when we are in our mid-fifties in the current climate or the high street bank who is lending it to us.
My personal feeling is to agree with Peter Jones on Breakfast yesterday when he said that we are allowing the media to talk us into a recession

PaulS43

rosetree wrote: »

I watched "Working Lunch" on BBC 2 at lunch time ..... Rachel Horne said that Icesave "would not be meeting their compensation obligations". Alistair Darling has said that in these "exceptional circumstances he was making a comittment to UK Icesave customers that they would get back 100% of their savings". That seems to imply that any amount will be paid back. No mention was made about interest on these accounts. Rachel Horne also said that she had spoken to the Financial Services compensation scheme and "you don't need to do anything; they will get your details and the FSCS will get in touch with you".
I certainly do not blaim Martin for anything; I am just so grateful for all the fantastic advice he has given over soooo many things. Please keep it up Martin but I hope you're not too exhausted through all this work!:A

Can I just say that if and when you get your capital back underwritten by me as a taxpayer, please be grateful that the Govt will have done this for you. Demanding lost interest removes you from my "sympathy" column to my "cake and eat it 'greed'" column!

If you get your money back (and I think it's right you do) don't take liberties with the charity expected of the rest of us!

Nicki24

KatP wrote: »

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 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!!!

Thank goodness for some common sense!

I couldnt agree more.....it beggers belief that there are people who personally blame Martin for what has happened and to be quite frank it makes me really angry. There is no way that the current financial crisis that we are currently facing could have been predicted when icesave was first recommended on this site. Who would ever have thought this time last year that the big players such as Lehmans, Bradford and Bingley etc would go under and that the world would be facing such uncertain times. Its a nightmare but its not Martins fault. He has done his best to recommend the best buys and is always at pains to stress the warnings and the small print to make sure everyone is fully informed.

I feel truly sorry for everyone who is going through the stress and worry over whether or not they will get their money back, I wouldnt wish that on anyone however we all have to take some responsibility for our own actions and should remember that we are NEVER forced to move our money its a personal choice. I work in the city and to be quite honest in the current climate any one of the big banks could have gone the same way.....its just unfortunate when it happens to be the one that you bank with.

The saying 'fair weather friends' comes to mind. We cant all praise Martin through the good times and then turn our backs through the bad times. He has and im 100% sure will always do his best to give us the best advice that he can with all the information he has to hand at the time. However we all need to understand he dosent have psychic powers and cannot foresee what might happen in the future.