Last year I put 200k under my matress and my mate put 200k in Icesave.....

danny69

I told him, long term, I would have a lot more money than him. Eggs, baskets........

drsue_2

All your posts re icesave are there for pure provocation - my suggestion to all posters is not to sink to your level and ignore this thread.

1694

Provocation but factually accurate. The 4% interest you are offered is in exchange for risk....the risk of keeping your money in a company with a level of leverage that would be illegal in any other business.

danny69

I am annoyed that every single taxpayer in the UK should have to suffer due to a bad decision made my savers to deposit money into a foreign bank. There are no UK branches, and many people on here already had the opinion that these banks werent worth using, even though they offered good interest rates, the investment was always risky.

StevieJ

danny69 wrote: »

I told him, long term, I would have a lot more money than him. Eggs, baskets........

Just out of interest is it still there?

danny69

1694 wrote: »

Provocation but factually accurate. The 4% interest you are offered is in exchange for risk....the risk of keeping your money in a company with a level of leverage that would be illegal in any other business.

What I would like to add to this point, is that if you dont want any risk, put the money under your matress or in a safe. There is always risk involved with any bank, if you wanted next to zero risk, invest in Goverment bonds/savings etc. Oh, sorry, you were just chasing a high interest rate without looking at the risks involved. Look on the map, see howbig Iceland is/population/GDP, then learn the lessons.

bob2007

drsue wrote: »

All your posts re icesave are there for pure provocation - my suggestion to all posters is not to sink to your level and ignore this thread.

i agree. many of danny69's post have been insulting to some forum users. their point has been made and is being put on lots of threads. show some respect to your fellow human beings.

StevieJ

danny69 wrote: »

I am annoyed that every single taxpayer in the UK should have to suffer due to a bad decision made my savers to deposit money into a foreign bank. There are no UK branches, and many people on here already had the opinion that these banks werent worth using, even though they offered good interest rates, the investment was always risky.

I will be hacked off if they don't guarantee our 6.3% interest as well.

danny69

StevieJ wrote: »

Just out of interest is it still there?

Quality, I might put it in an Iranian or Afghan bank. Worst case scenario is that it goes bust and Gordan coughs up.

egduj

StevieJ wrote: »

I will be hacked off if they don't guarantee our 6.3% interest as well.

Apparently all interest earned up until Icesave became insolvent will be paid in full. (Working Lunch this afternnon)

danny69

egduj wrote: »

Apparently all interest earned up until Icesave became insolvent will be paid in full. (Working Lunch this afternnon)

Up until the end of last week I believe. Thursday or Friday. That is, provided you had less that £50k in your account.