ICESAVE Anyone else do a BACS transfer on Sunday ?

purplecrocus

Regarding Icesave, I did a bacs transfer on friday for some of my balance. It was showing as processed on Monday 6th. Tonight on logging into my Icesave account the money has been returned to the account.
:mad:

enemy_of_the_state

:eek: oh dear looks like i can expect my bacs transfer to fail as well then i did mine sunday 21.29 and was hanging on to the ever fraying rope that it was going to have made it out, its not showing back in the iceberg yet but its not showing at Lloyds either so guess its gone the same way as the titanic.
does any one know of a single case of bacs actually arriveing in a uk account since monday ?

tonyg_2

Yep, a "Correction Item" has appeared back in my ICESAVE account this evening for the amount of my transfer out!

Plasticman

Me too......... Cash now back in Icesave and I will be waiting for the FSCS to tell me how to get it back! I just hope that the UK Govt manage to get the money back from Iceland rather than putting the burden back onto the UK taxpayer (me!).

enemy_of_the_state

:eek: out of curiosity was the account closed when you made the transfer or did you leave a bit behind to keep a way in
i closed the isa with full transfer but left a tenner for a beer behind in the instant access just wondered if actually closeing account might stop it coming back .....sounding more desperate by the minute aint i

Plasticman

enemy_of_the_state wrote: »

:eek: out of curiosity was the account closed when you made the transfer or did you leave a bit behind to keep a way in
i closed the isa with full transfer but left a tenner for a beer behind in the instant access just wondered if actually closeing account might stop it coming back .....sounding more desperate by the minute aint i

I left mine open - so if all turned out to be OK I would be able to move the money back in. :rolleyes: I thought that they were likely to be taken over - how wrong I was!!!

People who closed their accounts haven't received their money back either. Word on the street is that those accounts will be re-opened (with cash intact) when the Icesave 'IT guy' has sorted out the system.

purplevamp

I have a savings account with Icesave and was in the process of transferring my ISA from Lloyds to them. Lloyds closed my account and sent the cheque to Icesave on 30 Sept. It isn't showing in my account. I spoke to Icesave who told me to ring Lloyds and get them to cancel the cheque (they only accept written cheques and not electronic transfers for ISAs). Lloyds said they couldn't cancel cheque as it was a bank cheque and not a personal cheque. So in effect my ISA is in limbo. This has really upset me and have been crying on and off since yesterday afternoon. I know there's nothing I can do and it does look like we will all get our money back but it's still very worrying for everyone.

Slightly changing the subject - does anyone know if I can put money into a new ISA, as my one is effectively inactive? If I can, can I only put in the remaining amount, eg my floating ISA was £1,400 leaving £2,100 left to invest. Or do I have to wait for it to be sorted?

23rdian

enemy_of_the_state wrote: »

:eek: out of curiosity was the account closed when you made the transfer or did you leave a bit behind to keep a way in
i closed the isa with full transfer but left a tenner for a beer behind in the instant access just wondered if actually closeing account might stop it coming back .....sounding more desperate by the minute aint i

Closed it out. Knew it was game over on Saturday, just regret not doing it on the previous Monday when I removed the bulk of funds. This was my own fault. I hope we have all learned some lessons from this.

- Is nothing in linked account as of midnight so looks like wait and see is over

enemy_of_the_state

similar situation i had recently removed everything but the afformentioned tenner from my instant access account which i am thankfull for as it has greatfully reduced my exposure to icesave but due to a busy work schedule (self employed) and never quite getting round to moving the isa (lazyness ?)even though i had a niggling doubt telling me to move it i suppose i never really thought it would end like this but then neither did the builders of the titanic and it was an iceberg that done for them as well
all said and done it looks like eventually we will get our savings back for which i will be very very thankfull ,worring about wether we lose interest is i feel being a touch greedy as yesterday we would have just been pleased to hear we were getting anything back
i will when funds permit be buying a b**dy good safe to keep my cash in and any change will be spent on tinned food with long use by dates

dougz_2

How have icesave done this? It seems as though they have clawed back peoples own money that had already left their icesave account and was in BACS transit to their personal current account. This does not exactly instill confidence in the BACS system does it?

Like many others, my withdrawal was saying "processed" days before they have actually gone into liquidation. As far as I was led to believe it was no longer in icesaves custody and was now in the BACS banking system. Yet now I check my icesave statement today and see they have magically got it all back in there.

I just hope these reversed funds showing in the supposed balances of our frozen accounts are really still there, and available to meet our compensation, and they have not been siphoned off to Iceland so the UK has to compensate us instead.