Icesave FSCS compensation - I have a dream.

lyndhurst25

When and if Icesave is declared insolvent, what's all this bureaucratic malarky about the FSCS writing to all account holders, filling in "claim forms", etc.? I doubt that the FSCS has enough staff to handle all the claims and payments efficiently. However, there's already an organisation that knows exactly how much money is owed to whom and that's Icesave.

I have a dream...

Why not just use Icesave UK's redundant infrastructure to handle the pay-outs? Employ a skeleton staff at Icesave's computer centre for a few weeks. As the compensation money is coughed up by the respective governments the money could be paid into Icesave's coffers and the accounts simply unfrozen. People could then just withdraw their cash or transfer their ISAs in the normal way. Or is that just too easy?