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

rich225

People are acting like Martin is a icesave shareholder, i think patience may be neeeded :S

johnat11

After much worry I've pulled my money out of Kaupthing Edge this week (and hoping the BACS pyemnt comes through!). Although I understand the FSCS guarantee will operate up to £50k, would I want to get pulled into a protracted claims procedure? I've kept the account open to see how things look in a few weeks.

dazmb

I've got £6373 in Icesave. I read Martin's recommendations, but IN NO WAY can I or should anybody blame him for financial advice gone sour. These are extraordinary times, and what is happening is very worrying. But having read all the stuff on the web and news media it looks like we WILL get our money back to at least £50k. Iceland is part of a euro-zone finance body, so we have some comfort that we will not be left high and dry even if Iceland cannot pay it's initial £16k or whatever compo liabilities.

This BBC feed gives some details on the movie about that:
http://news.bbc.co.uk/1/hi/business/7657630.stm

We are all adults, and make our own decisions. Perhaps the blame someone else culture is partly why we are in such a mess in the western world with credit/debt overload. You can't blame anybody but yourself for your actions, we all know that.

To blame Martin for losses, or worse to call him a financial fraud is a complete outrage of decent behavious and thought.

WE WILL GET UPTO £50K BACK

sandrapeace

I don't expect anyone to have much sympathy for me but I (and my partner) have £750,000 invested in Icesave. We are not super wealthy, but as a result of lost confidence in conventional pension products over the years, decided to keep our savings 'liquid'. We now face the prospect of losing EVERYTHING. At best, we'll get £100,000 back -big deal!

Is there anyone out there is a similar position - I feel very alone at the moment!

sospanfach

I have registered just now to offer support to Martin - you are open in your recommendations and warnings - please continue to offer advice- you are unfairly attacked - people just need a punchbag in distress - we are all in deep and difficult waters just yet -let us hope things will recover!

feisty1

As much as I sympathise with all of you who have deposited funds in Icesave after reading this site, I question your judgement. If you have a problem with electrics you would send for an electrician. Martin Lewis is a TV and radio presenter, national newspaper columnist and author. He is not a Financial and or Mortgage Advisor. The purpose of this email is neither to support or condemn him. However, from here on I do hope maybe people will seek the correct professional advice.

kjc197

I had a chat with the lads at work about this, and we are all of course concerned about our savings. I'm confident that the "system" will work, and either Landsbanki will recover, or more likely we will at some stage get reimbursed. I considered, and then decided against withdrawal yesterday. This economy is obviously got serious problems, and the last thing it needs is me adding to the panic. I went into Icesave with my eyes open, and understand the safeguards, and have confidence in the Icelandic prime ministers comments and also the Uk government, so believe my money is not unduley at risk. I have pity for investors like the lady on the 10pm news that has invested over £50k. These people are likely to be the real victims, and that isnt fair. Unfortunately life isn't fair. My main concern is getting my money back in an ISA should the worst happen. I have no reason to beleive that this should not be the case, and will certainly learn from this.

sadabbott

I have £35k in an ISA and my wife does too. I am worried sick about this as it represents our life savings.

Icesave are not answering calls and I am getting a standard response on the emails.

The Iceland government are acting in an absolutely disgusting way by not being decisive and communicating to us.

There are other people like me that rely on the money that they have set aside, some may need it sooner than others. It is disgusting. Shame on you Iceland and Icesave.

daveclark_2

Whilst I don't want to anger the legions of M. Lewis fans more than is already the case - the point "PistolPete180" was making before it was hijacked seems to be a sound one. Namely, that there are/were plenty of organisations offering similar interest rates to those offered by Icesave so clearly it would've been a better policy to not recommend Icesave? OK, anyone who puts money into a bank should do their research but the fact is people look to sites such as this for advice/guidance and don't always do the correct research. If ML had a policy of only recommending "safe" savings accounts then this forum wouldn't exist - nobody would be worried about losing up to £16k.

One last thing - I hope this doesn't qualify as "liable" (libel??) :-)

GWEPM

I think that there are a lot more victims of this whole debacle yet to emerge. It is only a question of time before the Pension Fund companies are in serious difficulty and those of us already receiving pensions find that our monthly cheques stop coming through. And what "protection" will there be then?