Alistair Darling Guarantees Icesave 100%

MIKELSOK

Just been digging, this statement by the FSA confirms what we wanted to hear.



No retail depositor will lose any money as a result of the closure of Icesave. :j


https://www.moneymadeclear.fsa.gov.uk/news/firm/icesave.html

mary

My ignorance, what actually is a "retail depositor"?

MIKELSOK

All my recent transfers have returned to IceSave.

I trust the UK Govt will seize whatever assets it can from LandsBunkoff:cool:

JonnyBravo

mary wrote: »

My ignorance, what actually is a "retail depositor"?

Joe Public.

ie not a business account..... or some of the more unusual accounts for the super rich I'd guess.

TuftyMatt

I have no proof and this is only my view but I am sure our money will come quickly once the process starts.

300,000 of us without cash will damage the UK economy so I am sure AD will be watching the FSCS and make sure they pull their finger out.

I cannot see it lasting into next year.

Paul_O'Kshields

Well done to AD and the UK government for stepping in and issuing a guarantee on this. Feel free to stick a penny on income tax in return. You can count on my vote at the next election, sir! :T

My backside has been knitting buttons for two days solid over this situation. I simply cannot afford to countenance several thousand pounds of hard-earned savings vanishing into the murky depths of the North Atlantic. Also many thanks to everyone connected with this forum and website who have done a sterling job of gathering and sharing up to date information.

I will be interested to hear what the Icelandic PM has to say about this later - but for now I'd like to issue a hearty yah-boo sucks to the greedy, puffin-worrying, garishly-patterned jumper-wearing merchant bankers who got themselves - and us - into this mess. However there is one bright side - maybe the country's impending bankruptcy means Mum will have to go to Somewhere Else and take Kerry Katona off our screens for good.

Beate

I find all the government statements confusing. On the one hand, we do have a £50,000 limit in this country, and did for Icesave, but now AD says that he has stepped in and guarantees ALL monies, but might not be so nice next time. Erm, why not just guarantee all money in UK banks as well? Everyone is being told to spread money and not have more than £50,000 anywhere, but when push comes to shove, all of a sudden 100% are guaranteed, banks get nationalised, money gets pumped in... as good as that is, it is confusing because you don't know what to believe anymore. I have spread my money but I haven't got that much anyway. I don't agree though that someone with, say, £200,000 should have to spread it across 4 banks and lose out on interest (as you never find 4 banks with exactly the same deal and interest rate) and have more hassle managing 4 accounts. Why? Other countries seem to be able to guarantee 100%, and if the UK doesn't soon, people will drain the UK banks by depositing their money for example in Ireland. Can't be good for the economy either now, can it?

Wibble

MIKELSOK wrote: »

All my recent transfers have returned to IceSave.

Darn it - so's mine! I thought I'd just made it in time! I knew my ISA was stuck in there, but hoped that the transfer I'd made on Monday from my savings account had made it out just in time, but sadly not. :mad: