Icesave; ISA Account closed yesterday?

nakedmanoncrack · 8 October 2008 at 2:37PM

Hi, like many of us I tried to transfer my money out of Icesave yesterday. The transfer from my savings account has now been returned to my Icesave account, this I can see on the Icesave website. However I also tried to transfer the full balance of my ISA (thereby closing the account) this will obviously not go through either BUT because it would have closed the account I am no longer able to view the account. What happens to my money if there is seemingly no account for it to go to?

70ish · 8 October 2008 at 2:45PM

I too tried to transfer money - without closing the account. On the 6th October it was shown as transferred. Today it is shown having been returned to the account. It will be absolutely essential to have print-outs of all accounts to assist in the repayment scheme when it gets going. How will we ever trust anyone - or country -again. Landsbanki stated for ages that they had no involvement in any of the financial difficulties of the USA or other collapsed banks and were " one of Northern Europe's largest, strongest banks". Now they are common thieves, holding our money to ransom.

ceeci · 8 October 2008 at 2:50PM

I believe the money will be returned and your account re-instated.
At the moment everything is frozen. I transferred £11K on monday am (although I did it on Friday evening, monday was first working day for it to be actioned). The money has left my icesave account but has yet to turn up in my linked account so my money has either escaped (if I'm lucky) or will come back into my account once they un-freeze it. Who knows if the transactions took place on Monday or Tuesday at all? Either way, you will get your money back and you will also keep your ISA status - see here for more details:

http://www.fscs.org.uk/consumer/

nakedmanoncrack · 8 October 2008 at 3:04PM

70ish wrote: »

It will be absolutely essential to have print-outs of all accounts to assist in the repayment scheme when it gets going.

I wish I had, not sure I've even got a record of the account number.

Patr100 · 8 October 2008 at 3:33PM

You will have been sent a letter with the account number when you opened the account. Just hope you haven't thrown it away.

MrsGrey · 9 October 2008 at 11:30AM

I have a similar problem in that I ( as I thought) transferred all money out of IceSave (3 accounts) on Monday evening. It took about 2 hours. I did a CHAPS transfer, and the accounts are now closed. Of course the money is still with IceSave, but I can't even get access to the accounts, as they are closed and IceSave therefore refuses the login. So presumably the money is electronically sloshing around there, unaattached to my details. Not a happy thought. I DO have the final statements at least, so have to trust in FSCS and darling Darling to trace it, finally. I bet folk like us will be bottom of the pile to deal with.:mad: