Does your household have money in Icesave?

Pssst

Yes, less than £50k

IMHO Icesave are thieves and liars and have acted dishonestly. Way up until Saturday night they still had a touchy feely message from the big boss saying how safe and secure Landesbank were and how they had massive reserves blah blah blah..All the while they were plotting the theft of UK money whilst saving their own miserable necks and their customers in Iceland. Also still taking UK deposits.

This demonstrates that all the promises in the world made by foreign and UK banks are not worth a jot. They are just talking heads who spout lies to try and preserve some semblance of security.

Once this pantomime is over, I will never trust any bank again. I shall be keeping most of my cash here..

http://www.chubb-safe.co.uk/

Chris2685

Yes, less than £50k

So who did they actually lend our money to anyway? As far as I could see when signing up, they only offered savings account (IceSave at least). Is it basically Landsbanki, the parent company, that has spent more than it had available?

WTF?_2

thankfully, no!

Zammo wrote: »

I had 38K in Icesave.

Not any more though, I follow the financial news on a daily basis and knew there were risks associated with the Icelandic banks.

The first sniff of trouble last week had me withdrawing my cash.

All these idiots blaming Martin for the loss of their cash should be looking a bit closer to home.

I have to agree - I saw the interview on C4 news and the bottom line is that all MSE did was print a table of the top interest rate payers, of which Icesave was a leading member at one stage. BFD - any table at that time was going to show Icesave as a top payer.

What was he supposed to do - urge people to shun Icesave and be accused of starting a run?

MSE was focussing on warning about bank safety months ago ... there was some good info unearthed including details about the dangers of having your savings account and mortgage with the same bank should you need to claim from the FSCS. They also noted the anomalous situation on compensation for a bank bust which Icesave had.


What actually matters now is that a compensation claim to the FSCS looks like all that will be required. Not an ideal situation by far and I certainly wouldn't want to be in it - but far from a total loss for Ice-savers.

I personally have no time either for the snivelling trolls who now shed crocodile tears of 'concern for the poor savers' while trying to say that having a whopping mortgage on an overpriced house would have been a better idea :rolleyes: or those who are having a go at savers who have money trapped there for being 'greedy'.

Given that 35k (at the time) of savings were guaranteed by the FSCS it was a perfectly reasonable course of action to go for the best paying accounts as long as one limited oneself to 35k.


It's just too bad that the mess created by the 'borrow, borrow, borrow' idiots and their counterparts in the banks the 'lend, lend, lend' morons has impacted those prudent and sensible enough to save a decent amount whilst cretins all around them got caught up in the mother of all borrowing parties....... :cool:

ad44downey

Yes, less than £50k

Chris2685 wrote: »

So who did they actually lend our money to anyway? As far as I could see when signing up, they only offered savings account (IceSave at least). Is it basically Landsbanki, the parent company, that has spent more than it had available?

House of Fraser, etc. Half our high St is supposedly owned by them

Chris2685

Yes, less than £50k

Interesting, looks like you're right!
http://www.independent.co.uk/news/business/news/house-of-fraser-tries-to-reassure-suppliers-over-icelandic-links-950873.html

neverdespairgirl

Yes, less than £50k

!!!!!!? wrote: »

What actually matters now is that a compensation claim to the FSCS looks like all that will be required. Not an ideal situation by far and I certainly wouldn't want to be in it - but far from a total loss for Ice-savers.

We have just under £35k in Icesave (in OH's name) and we would be a bit !!!!ed off to lose it, or the first 20,000 Euros of it.

However, on the bright side, my teeth are in good shape and I still have no fillings.

Hmmmm. On balance, the £35k is still quite important, though.

dopester

thankfully, no!

Can you still log in to Icesave? Eg: To at least see your balances?

neverdespairgirl

Yes, less than £50k

It's OH's account. He could see it earlier today.

It's a fixed-rate bond (he wanted to move it last week, but couldn't for another fortnight).

dopester

thankfully, no!

If you can still log-in and and see your balance... I reckon a good move for Icesave account holders with significant money on deposit would to be download FrontCam, which is a screen video recorder program. You could use it to provide an absolute record of your balance held there, if needing to prove it to FSCS, and especially so if you don't have paper statements or Icesave goes offline.

Press record and it will video record everything your browser sees until you press stop. (Press pause during login unless your not bothered about security)

The video plays back in high-definition in the video-player with the program, or slightly less so in WindowsMediaPlayer. During recording, right click an view the security certificate so it can be obvious the banking site is the real and genuine one.

It just gives some real evidence, having a video like that, of your balance, for proving it to FSCS. (Unless of course you get paper statements from Icesave)

Link: http://www.frontcam.com/ (free) Incredibly easy to use. In the options just set it to record "full screen" & make sure its set to "video".

dopester

thankfully, no!

Example video I've just recorded at Icesave [36 seconds], which plays back in WMP, or even more definition in Frontcam's own player.

(Assuming Icesave doesn't post out paper statements - a video like this might be helpful to prove your balance.)