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

painted_scotty · 9 October 2008 at 9:55PM

Thanks Andy, there is relief in knowing that you are not alone (not that I am wishing you in the same position). I actually had a phone call from a Call Centre Manager in KE tonight (he phoned me as he promised he would when he knew anything). He told me that ING had told them that they could tell customers in our situation that they would be starting to action the CHAPS payments and we would see them in our receiving accounts in the next few days. Whilst not the same as actually seeing the money in my account, this has been some relief.

painted_scotty · 9 October 2008 at 9:57PM

andy1465 wrote: »

I have had a same problem.
I tried to transfer by CHAPS on monday night with the transfer to take place the following day.
I was able to print out a copy of the transaction with the amount and a reference number etc. but the deduction did not show on my statement.
There has been nothing paid into my linked account today so I am a bit concerned I am unable to access my money.

Thanks Andy, there is relief in knowing that you are not alone (not that I am wishing you in the same position). I actually had a phone call from a Call Centre Manager in KE tonight (he phoned me as he promised he would when he knew anything). He told me that ING had told them that they could tell customers in our situation that they would be starting to action the CHAPS payments and we would see them in our receiving accounts in the next few days. Whilst not the same as actually seeing the money in my account, this has been some relief.

Olliebeak · 9 October 2008 at 11:00PM

I've read the first couple of pages and also the last couple - too many to trawl through altogether.

We are all very happy to 'make a bit of money through investments' - but we all have to realise that ALL investments carry risks.

The Golden Rule - never invest (or gamble) more than you can afford to lose!

Everybody also please note what appears at the bottom of every page on this website - it's there for all to see.

This website is based on journalistic research and is not offered as financial advice (you pay through the nose for that stuff). All tips are are followed at own risk and should be checked with our own research before commitment.

This website is based on journalistic research. It does not constitute financial advice. Any information should be considered in regard to specific circumstances. All tips are followed at your own risk and should be followed up with your own research . See (last updated 03.09.08). ® Martin Lewis and MoneySavingExpert.com. 'Martin Lewis' and 'Money Saving Expert' are registered trademarks belonging to Martin Lewis.

d.edna · 9 October 2008 at 11:52PM

Olliebeak wrote: »

Everybody also please note what appears at the bottom of every page on this website - it's there for all to see.

This website is based on journalistic research and is not offered as financial advice (you pay through the nose for that stuff). All tips are are followed at own risk and should be checked with our own research before commitment.

He is giving finacial advice, Martin even said he recommended them, I would assume it is a grey area hiding behind a disclaimer as he is giving blanket advice. What would happen if someone took this to court?

ZCC72 · 10 October 2008 at 12:03AM

d.edna wrote: »

He is giving finacial advice, Martin even said he recommended them, I would assume it is a grey area hiding behind a disclaimer as he is giving blanket advice. What would happen if someone took this to court?

Martin & MSE merely provide information that is already publicly available, not advice, in a user friendly format. The website is well balanced and unbiased. No membership fees are charged, nor does Martin charge for his information. I think that any action would be unlikely to hold water.

In any event, surely a rational person investing large sums of money (i.e. amounts over £50k) would take additional (professional) advice to protect themselves?

Martin merely reports on accounts available - don't shoot the messenger......

filthylucrenoo · 10 October 2008 at 12:41AM

Please do now run along d.edna you pompous !!!!. I deposited my life savings in Icesave without once having read Martin's website and of course I attach no blame to him. It was a good move at the time, hindsight's a wonderful thing.

Alistair Darling's playing a blinder and, with luck, we'll all get all of our money (including interest) back. That's in the terms of the compensation agreement although, I'll admit, we have no idea what will and will not be honoured at present. I'm particularly pleased for that poor woman that thought she'd lost 650K.

Meanwhile, why should we seek anyone to blame. Apart from personal financial ups and downs, these are fascinating times.

Olliebeak · 10 October 2008 at 9:01AM

Scepticalquestions wrote: »

People like you really hack me off. These are not risk takers these are people that have been taught from childhood that a bank is a safe instituation to put there money.
You describe this now as a gamble to put money in a bank?

Your Patronising SOB!

I am really sorry that I (AND people like me) hack you off! Why is that, I wonder - I probably earn less than you do and have less than you do in the bank.

All I was pointing out was that when people start looking around for the very best deals IN ANYTHING AT ALL, then they have to be prepared to take the risk.

I was also taught lots of things when I was younger. Some of it was good advice and some of it wasn't - but I had to learn to work out for myself which advice to follow. Sometimes I chose the wrong advice to follow and the wrong advice to ignore - but always it was MY choice and MY consequence.

As for your final comment, I'm sure my mother would feel very insulted by that remark - and I'm actually her daughter NOT her son.

Adasta · 10 October 2008 at 9:21AM

I think the people trying to blame Martin are disgraceful. How can you feel like a respectable adult when you're trying to blame someone for what is, ultimately, your decision? Coming on this site is not a substitute for talking to a financial advisor and nor should it ever be considered such. Martin laid out all the savings accounts and noted their pros and cons and you chose which ones you cared about, decided if they were applicable to you or not. That's the end of it. If someone were to sue (as postulated previously), I would hope the case would be thrown out of court for its utter ludicrousness.

Moreover, the belief that a bank is safe is quite a strange one. When can any business out to make profit be considered 'safe'?

d.edna · 10 October 2008 at 9:33AM

filthylucrenoo wrote: »

Please do now run along d.edna you pompous !!!!. I deposited my life savings in Icesave without once having read Martin's website and of course I attach no blame to him. It was a good move at the time, hindsight's a wonderful thing.

Why am I pompous? Because I mearly expressed an opinion? Sorry it doesn't fit in with yours

Alistair Darling's playing a blinder and, with luck, we'll all get all of our money (including interest) back.

Personally I'd give you the capital back and nothing else, interest is free and considered a bonus, You never had the interest to begin with.

I'll admit, we have no idea what will and will not be honoured at present. I'm particularly pleased for that poor woman that thought she'd lost 650K.

Now that gives meaning to eggs all in one basket,

Meanwhile, why should we seek anyone to blame. Apart from personal financial ups and downs, these are fascinating times.

I'm not blaming anyone, I was just posting my understanding of the issue

Spendless · 10 October 2008 at 9:44AM

The people complaining, you obviously read the recommendation (cos you acted upon it) but why did you not see the 'warning' that Martin refers to in his blog that has been there for several months? or did you see it and not act upon it? Sorry if this has been covered somewhere else, I have read a lot but not all of this thread.