GOOD NEWS INTEREST WILL BE PAID - if you're unhappy about this- GET OVER IT!

andy_l_2

danny69 wrote: »

Completely no relevence whatsoever. People have deposited money into a bank that was always seen as risky. If you look at old threads then you will see many had the opinion that they would not invest in these offshore accounts. The whole thing was run online, no UK branches I believe (?) and then they want sympathy when things go wrong?! The UK taxpayer shouldnt have to foot this bill, it should be the Icelandic Government and their taxpayers. They were the ones reaping the rewards of this (profits and jobs), let them cough up, even if it takes years.

Not so! so why was it a best buy then? But I do agree with you that Iceland should pay up whatever the consequences to themselves.And who's looking for sympathy? Not me I just want whats fair and that's not being ripped off by a financial institution and them standing by there guarantees.

GeorgeHowell

Depending on how long it takes the money to come through, savers still might have been better off transferring the money to a UK based bank a few months ago. And the certainly would have avoided all the angst. Some sensible posters are acknowledging that they made a mistake, mightily relieved that it's not going to cost them dearly, and have learned the lesson.

There are apparently others who apparently are going to plough on with placing their savings in unwise places, chasing a few tenths on the interest rate, thinking they're smart, and arrogantly assuming that someone, maybe the taxpayer, will foerever be picking up the tab if it all goes pear-shaped. Are they complete idiots, or just wind up merchants ? Got to be one or the other.

StevieJ

GeorgeHowell wrote: »

Depending on how long it takes the money to come through, savers still might have been better off transferring the money to a UK based bank a few months ago. And the certainly would have avoided all the angst. Some sensible posters are acknowledging that they made a mistake, mightily relieved that it's not going to cost them dearly, and have learned the lesson.

There are apparently others who apparently are going to plough on with placing their savings in unwise places, chasing a few tenths on the interest rate, thinking they're smart, and arrogantly assuming that someone, maybe the taxpayer, will foerever be picking up the tab if it all goes pear-shaped. Are they complete idiots, or just wind up merchants ? Got to be one or the other.

Go on tell us, which bank do you work for?

wes88

StevieJ wrote: »

Go on tell us, which bank do you work for?

He does sound like a banker. A complete banker.

yee_har

Hi (and be gentle with me as a first timer....who's just in from work and is also trawling through that other link.....)

Are there any caveats or exceptions?
Specifically I'm days away from a 6-month "interest paid at maturity" bond maturing and - delighted as I am to be getting the original deposit back - if I'm also in line to get relevant interest then that would be fantastic.

Thanks,

GeorgeHowell

StevieJ wrote: »

Go on tell us, which bank do you work for?

If you had seen a post I made yesterday I stated that neither I nor any immediate family work in the financial sector, and nor have I ever done so. This was said in the context of appealing that we should now as a nation look after number one, and put our money in UK institutions in order to try to protect British jobs.

Money_Grabber13579

MrOrchard wrote: »

Got you're so right, I'm glad someone realised that they are responsible for the GLOBAL CRISIS.

Gordon Brown's role as secret President of the Whole World Evah is finally public knowledge.

I'm by no means a Labour supporter, but I think you need a little perspective.

But it is the Labour party's fault in this country - The UK is the worst affected country in Europe through pension raids, lack of regulation and limits on fat cats bonuses and a policy of borrow, borrow, borrow and never think of what happens when it has to be paid back.

john_holgate

danny69 wrote: »

yes, the majority have to suffer because of the stupidity of the minority. If it wasnt bad enough, they go and deposit their money in a foreign bank, then expect everything to be ok. You couldnt expect Iceland to look after anyone but their own people, could you? I hope people learn from this and dont go doing it again.

You appear to be almost completely ignorant of the facts, Danny.

IceSave may have been owned by an Icelandic bank, but they operated here via a "Passport Exemption", due to Iceland's European Economic Area membership. This made UK authorities powerless to prevent them operating here, but at the same time obligated Iceland to provide statutory protection to customers, in place of the FSCS.

At no point during the account-opening process was this critical difference made clear to IceSave's customers.

With regards Iceland's "own people", the Icelandic government's responsibilities became much wider when their request to join the European Free Trade Association was accepted.

Iceland's government has acted to steal the assets of UK citizens by reneging on European bargain. It is that simple.

As for being "foreign", then as far as Euro regulations are concerned, it is no more foreign than any other European bank. Landsbanki (the owner of IceSave) has always had excellent credit ratings. If you determine the risk by how geographically close the name of the institution sounds, then I expect you are not that keen on Swiss banks like UBS and you give HSBC (a UK retail bank that has actually successfully recapitalised) a very wide birth indeed!

Outstanding interest is owed to customers in just the same way as the cash deposited.

Do you honestly believe that people have been reckless by saving their money on deposit, or fixed-duration bonds with net interest less than the RPI? Not exactly high-stakes stuff is it?

Presumably you think Northern Rock's customers are "stupid" too?

If you are so clever, then why are you so unhappy that IceSave's customers are being given the same protection as Northern Rock's? It's too bad anyway because no-one important is listening to you!

(It's a drop in the ocean compared to bailing out the other banks this week, anyway).

StevieJ

GeorgeHowell wrote: »

If you had seen a post I made yesterday I stated that neither I nor any immediate family work in the financial sector, and nor have I ever done so. This was said in the context of appealing that we should now as a nation look after number one, and put our money in UK institutions in order to try to protect British jobs.

You mean like British institutions who are offshoring (Bangalore etc), unfortunately proud Daily mail reader it doesn't always work like that.

Plasticman

GeorgeHowell wrote: »

This was said in the context of appealing that we should now as a nation look after number one, and put our money in UK institutions in order to try to protect British jobs.

like Alliance & Leicester, Abbey or Bradford & Bingley.

Oh, hang on.................. :rolleyes: