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

CathieG

In an article I read in the Metro yesterday - it said people should consider banks such as Icesave which have good terms and conditions! The fact is - loads of 'experts' where recommending Icesave - even Which Magazine put it top of their list! Martin was just one of the gang.

Pandapal

I think in fairness to Martin he wasn't the only one to praise the virtues of Icesave it was pumped as a good bet in all sorts of different places hence the reason there are so many UK savers. We can all be wise with hindsight. I don't think the problems with Icesave will be the end of what goes on by a long way. Does anyone think what the government announces tomorrow is going to stop the rout, did the stock market slide stop in the US following their cash injection, this is an animal feeding on itself sadly, fed by the rumour mill.

Let's hope that everyone with money in Icesave (myself included) get our money safely back that's the most important thing for everyone right now and let's hope the Icelandic government has i) the money and ii) the integrity to pay out under the compensation scheme.

Pandapal - owner of a small inheritance left by my dear old Mum and Dad now 'frozen' in Iceland - thanks a bundle guys....

warmasice

..I wonder how many of the 300,000 UK residents had savings with IceSave as a result of this site? I am one of them, bad choice, bad bank, claims of website having errors, claims of it being solvent, too right, wheres the fraud sqaud. next time, i wont be taking advice from websites, i will go for my gut instinct, and that was to stay away from icesave, however, i got greedy and i guess its my own fault...

aop

Martin - I deliberately didn't place my ISAs with the Icelandic banks as a DIRECT result of reading the warnings on protection on your site. Many thanks for your help.

-aop

benny555

Martin always warned us of the risks of an icesave account. I read the article on passport schemes and choose to open an icesave account.

I I was fully informed.

Martin is still the Money saving expert and is sure to be a great asset in getting our money back.

Martin has saved me loads of money :money: :money: :money: :money: in the past and I fully support him.http://www.moneysavingexpert.com/img/ml-thumb-spin2.gif

alwaysonthego_2

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....

I think that Martin is not a fraud like you suggest. He did not make you place your money in to the ICESAVE account. I don't think anyone could predict what was going to happen and Martin did warn people fully about what protection rights they had if anything went wrong. It is also clearly explained that if you click on to certain links then MSE does profit from it, and this is not hidden. Also Martin gives alot of his money from MSE to small charitys. To call Martin Lewis a fraud is well out of order.

LucyTheDwarf

Martin,

I thank you for always offering well informed, up to date advice, about savings, and indeed most other financial issues and products. I thank you for making me fully aware of the best deals out there, and their limitations and risks. I thank you for teaching me many a thing I didn't know (even though I'd always thought of myself as reasonably knowledgeable, and "good with money"), through your and your teams' articles, your blog, and the fantastic forum which has attracted many brilliantly helpful regular users. Thank you for giving me the starting point, from where I, and many others, did our own research and made our own decisions about what to do with our money.

You have saved me money, you have made me money, and once again thank you, to you and your great team.

Keep up the fantastic work - and remember you can't please everyone all the time. You're only human. (And still one of the good guys )

Tony_bennett_2

I tried to make a Chaps transfer last night and my Icesave account shows that it was processed. My cleared balance now shows a zero. A CHAPS charge of £30 has been made. There has however been no amount recieved in my LloydsTSB account. Where is it then? What is the legality of this? I understand that a Chaps tranfer is as good as cash.
LloydsTSB were far from helpful, they said take it up with Icesave - ha - some hope there!

MSE_Martin

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....

If this had beeen written about anyone else - i would delete it for libel. And I will not allowany more like this.

1. I do not believe I was caught out in any way on LK - in what particular stance - everything i said was correct.

2. There are no broken by laws in the trains article.

3. Icesave was very rarely an affiliate link, for less than a month - in fact the site has hardly made any money from it. The times it was an affiliate link it was a long way down the list. I only wish in this one case we didnt have the 'ethcial stance' that means we always say the best regardless of the site's revenue. As if so, Icesave would have almost never been on the site. Sadly we try and tell people what's the best rate.

4. As for the comment about not for profit, you'll find this guide to how the site is financed linked to from every page, prominent on the home page and often in the weekly email. The mere fact you know the site makes money is proof it has been well communicated!

I am very happy to answer questions from worried savers, I even accept some people got products due to my top picks (as well as every newspapers, Which, and every other website) and are annoyed, but frankly I have better things to do with my time than answer such juvenile points as this and any other of this ilk will be deleted.

Greenie67

Some people posting on this site need to take responsibility for their own actions instead of trying to blame others. Martin is not responsible for any of this.

I also have quite substantial savings with Icesave (5 years worth of ISA contributions), but I went after the highest interest rate having read Martins recommendations and other money websites. I was fully aware of the compensation scheme in place from the Icelandic compensation scheme and knew that I would only be able to claim back the first £16500 from them. This has been so widely written about in the press and online that a little research would have made this clear to anyone thinking of investing. Last time I checked, we were all able to make our own mind up.