ICESAVE: How long until compensation?

JohnnyW_3

I suppose everyone is wondering this right now, but I happen to be living off my savings and I need to the pay the rent!

It'd be great if anyone posted news here. Thanks!

TehJumpingJawa

I'd imagine they'll want to get it sorted asap, to minimize any negative impact that it might have upon xmas sales.
I sure as hell won't be buying any presents until I get my savings back :rolleyes:

Baldur

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

"We are working closely with all concerned on the practical arrangements to get people their money back as quickly as possible. We hope to be in a position to say more about the arrangements by the close of business on Friday, and we will publish updates on our website."

Seajays

I wouldn't hold your breath. Personally, I'd be very surprised if things were sorted out before Christmas, however the definitive statement should be made tomorrow on the FSCS website:

The UK authorities and FSCS are stepping in to help customers of Icesave after the firm was declared in default by the Financial Services Authority (FSA). The move paves the way for FSCS to help the bank's UK customers. FSCS is working closely with HM Treasury and the FSA to take the necessary steps to pay people back their money.

FSCS Chief Executive Loretta Minghella said: "We know that many savers with Icesave are anxious about their savings. Following the Chancellor's announcement people can be confident they will be repaid in full.

"We are working closely with all concerned on the practical arrangements to get people their money back as quickly as possible. We hope to be in a position to say more about the arrangements by the close of business on Friday, and we will publish updates on our website."

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

EagerLearner

Hopefully tomorrow we will have more info then, will check website - pointless calling them really as I am sure the info will be updated online pretty quick.

DelBoyPhil

i think early 2009 cos its gonna take ages for the info to be checked etc. and u need to claim and prove it/