ICESAVE Anyone else do a BACS transfer on Sunday ?

cwcw

gekktel wrote: »

I did a Bacs transfer on Friday evening at 11pm - nothing showing on my account as at the moment.

I dont see people losing their money in the long run - there was an Icelandic governemnt guarantee protecting the deposits. I cant see they can wriggle out of this in the long term.

The only real concern in my view is the loss of interest on the money from now until it does actually turn-up

The Icelandic government has done exactly that - wriggled out of it. Luckily our government is bailing us out. Longer term the plan is to get the money back off Iceland, but the country is nearly broke.

Troff

Same boat as many people. Modest amount of money somewhere in the BACS system according to the statement that I printed on Saturday. Cannot check as my account has been locked. Whilst we all welcome AD's statement isn't there a bigger issue here which the Govt/FSA needs to address urgently. Banks that trade in the UK under a split compensation scheme should be encouraged to buy into the full UK FSCS or they should not be allowed to trade. Currently, our ire is focussed on Iceland; however, other countries could also default.

gekktel

cwcw wrote: »

The Icelandic government has done exactly that - wriggled out of it. Luckily our government is bailing us out. Longer term the plan is to get the money back off Iceland, but the country is nearly broke.

You didnt read my post properly. I said "I cant see they can wriggle out of this in the long term. "

cwcw

gekktel wrote: »

You didnt read my post properly. I said "I cant see they can wriggle out of this in the long term. "

I did - I think they will still wriggle out of it in the long term. I think they will declare themselves bankrupt and cut off to the rest of the world. Either that or they will be bailed out by their Scandinavian friends, or be forced to join the EU and the EU repay the UK. In any case, I don't see that Iceland could ever afford over 50% of GDP to compensate one of the biggest world economies.

vincit_veritas

Iberian_Dragon wrote: »

Luckily for me, I withdrew £3,500 last Wednesday which hit my account on Monday. Sadly though, that wasn't all of it.

I requested a transfer out of the remaining balance on Monday evening and don't know if that money is going to arrive tomorrow/Friday. Trouble is because I effectively closed my account, I can't login to Icesave anymore so can't print out any statements

I hope the money doesn't just end up in some sort of limbo :eek:

Same here: withdrew whole balance and closed account on Sunday, so now cannot log into Icesave anymore - but still no sign of money in my Barclays account....only a few hundred quid in my case. I had some time ago moved most of my Icesave svings over to Kaupthing because of the "passport" issue, but today I have just moved all of my Kaupthing savings back to Barclays. Truth is, I won't really be able to trust the withdrawal has taken place until I see that money arrive in my Barclays account. The Government's guarantee for Icesave savers is good news, but for the sake of people who have sunk their life-savings there, let's hope the reimbursements occur automatically, without making people fill out reams of paperwork etc at a time when they are already suffering terrible anxiety.

theisengland

This ICESAVE collapse has left me in a mess, I'm a student with literally all of my loan in ICESAVE and am now left with very little money left in my other account. It however said some money was transferred TO my Icesave on Tuesday (I set that up about a week before hand and haven't kept ontop of the news), is that right?? I thought they said they would stop all transfers on Monday!!! I asked Natwest and they didn't seem to know or care!!!

jm0221

jm0221 wrote: »

I did a BACS request on Friday night, sitting processing over the weekend as expect and processed 1st thing Monday. No sign of money but then I would expect it maybe tonight after midnight. By the sounds of it I didn't get out in time either.

As thought its just appeared return to sender. Didn't make it out.........

savem3

I sent all my money out of my Icesave account by BACS when I got jittery that Iceland wouldn't pay up and closed it on Monday evening, so far the money has not been credited and since the account was closed I cant log in again! Luckily I have a printout as evidence.

What happens to those of us who closed our accounts and moved everything out, will they get reopened when it bounces back?

This is an absolute shambles,

Hillwalker

I transferred money from my Icesave account last Saturday (4th) morning.
On Monday my Icesave account had been Debited and I was expecting the Money in my HSBC account today.

I have just logged on to Icesave and they have put the money back in the account and hence cancelled the transfer. The statement clearly shows my withdrawal on the 4th and the re-instatement today.

23rdian

I thought I had got away with it but it sounds like they have could have done a BACS recall on the Monday's transactions. Meaning their Tuesday 9am cut-off statement is false.

I opted to close the account on Saturday, the account is now inaccessible so no screenshots