UK Govt to ensure savers get money back

st

MSE_Martin wrote: »

It was confirmed yesterday there will only be ONE form to fill in regardless, the question was "who will pay" will Iceland fulfill its obligation for the first £16,000.

Now we're (my interpretation not guaranteed) hearing "someone will pay", which is of course most important.

thanks martin for all help lets work together

[Deleted User]

can I suggest that everyone prints a statement to help with the claim.

Phew!!! AD is on radio 4 confirming the op.

csiman

But this is a double negative:-

The inference was quite clear, the governmet will ensure savers get their £50,000 back, I don't believe he meant people will get their money back. This section will be updated with the Chancellors statement later, but I wanted to get this in as quickly as possible.

babylonfree

csiman wrote: »

But this is a double negative:-

The inference was quite clear, the governmet will ensure savers get their £50,000 back, I don't believe he meant people will get all their money back. This section will be updated with the Chancellors statement later, but I wanted to get this in as quickly as possible.

I think the word all was probably missing!!!

altocumulus

The UK stockmarket started the day with a big drop, they are obviously still assimilating the bank rescue package.

As to Icesave - nice to have some assurance that savers will be compensated, even if it does not include the Icelandic Compensation Fund.

So much for trusting in the integrity of a nation, its banks and their measly worded legal obligations....

randomnut

Cheers Martin, fingers crossed. Nice to have some good news before work

blizeH

I think it's great that people up to £50k are now guaranteed to get their money back, and as a slight consolation, it happened on a good day (if there is such a thing) - just two days ago and a lot more people (myself included) would have lost out!

I assume that any interest accrued will be void, and that our ISA allowance will be reset to zero, but if I'm honest, as nice as these things would be, I don't think it's a huge deal, and I for one am just going to be happy to get my money back.

I have my fingers crossed for those with more than £50k in their accounts too, such an awful situation.

Thanks for the updates Martin.

valiant

Why couldn't this guarantee have been made yesterday, shortly after the announcement that Icebank was going under...rather than waiting for thousands of people to panic and start withdrawing their money from other banks?

For what it's worth, from what the chancellor said in the Today Programme just now, it sounds like all depositors will get ALL their money back, not just the first £50K.

Prav

The headline summary from R4 is that AD says depositors will get their money back.

I hope that's categorical and £50K + are safe aswell.

Hillfly

bazster wrote: »

Darling just confirmed this on BBC Radio 4. UK government to ensure that all Icesave depositors get their money back.

Hopefully, as suggested by others on this site, HMG will be seizing Icelandic assets to pay for it.

Does that mean my team West Ham will be nationalised? A dark day for my savings and my hobby!