Icelandic Banks Impact On Stoozers

Bisoy

Dear all MSER's and fellow stoozers,

As the title goes how many of you stoozers have been affected with the problems with ICELANDIC BANKS: ICESAVE AND KE.

I am one of the less fortunate to have my stooze pot with KE and Icesave.
It has made a major impact if as a stoozer your stooze pots are in these institutions specially if you need to clear a credit card soon. Thankfully I knew that I will get my money back and I don't have a CC that needs to be cleared till the end of next month and hoping I get all my money back before I need to use it.

Clariman

We will shortly be publishing an article on this very subject on the Official Stoozing Website. It will be distributed in our Autumn newsletter in the next 24 hours. If you want to receive the newsletter, you can sign up from the stoozing site's homepage.

Clariman

Phlik

Wouldn't it be better transfering your stooze balance to another interest free card whilst you still have time?
I doubt very much that the government will sort out the Icesave/KE mess this side of the New Year, let alone in the next month. I've funds stuck in Icesave myself, I know we'll all get it back but I think it might take some time.

Phlik

Bisoy

Clariman wrote: »

We will shortly be publishing an article on this very subject on the Official Stoozing Website. It will be distributed in our Autumn newsletter in the next 24 hours. If you want to receive the newsletter, you can sign up from the stoozing site's homepage.

Clariman

Don't worry Clariman I am also one of the earliest members on stoozing website with a different name.;)

YorkshireBoy

Phlik wrote: »

Wouldn't it be better transfering your stooze balance to another interest free card whilst you still have time?

That's OK if you have some 'capacity' for applications.

For those like myself (with well over 150% of salary stoozed) who adopt the blitz approach to applications, getting accepted for other 0% BT cards is not possible.

For people in my position, I'm of the opinion that the best approach is to use multiple stooz pots. After all, there's currently no shortage of good 6.5% AER accounts.

Clariman

Newsletter now published. For those who do not subscribe to it, here is the article directly.

Current Banking Crisis - Practical Steps for Stoozers.

Clariman

Phlik

YorkshireBoy wrote: »

That's OK if you have some 'capacity' for applications.

For those like myself (with well over 150% of salary stoozed) who adopt the blitz approach to applications, getting accepted for other 0% BT cards is not possible.

For people in my position, I'm of the opinion that the best approach is to use multiple stooz pots. After all, there's currently no shortage of good 6.5% AER accounts.

Very true. In your position then the only sensible thing would be multiple stooze pots, otherwise it could get very costly.

Phlik

chairman_miaow

Well I doubt I'll be stoozing again anytime soon....I had nearly £3K stoozed with Kaupthing Edge which I transferred back on 7th October but haven't received yet (hopefully should be next week though as others are now getting their money back from transfers done before that date)

It's been a worrying few days though......and I don't want to put myself in that position again...

nzseries1

Perhaps I have a lax attitude towards this (and perhaps because I didn't have my money in IceSave), but this won't make me stooze any less.

Perhaps I will be slightly more risk-averse when it comes to choosing a savings account, however surely getting an interest rate of only 6.1% instead of 6.55% isn't enough of a reason to stop stoozing altogether.

Clariman

I don't think that there is any reason to stop stoozing, but we need to protect ourselves from any potential risks (hence the article).

midnite

I agree with Clariman that there is no need to stop stoozing, I think it's all about being careful and not having all of your eggs tied up in 1 basket and spreading the money around.

I have 3k tied up in icesave but this is not needed to March next year so I'm not too concerned about not getting the money back in time but it will no doubt cause me a loss in interest and therefore profit but I' dont think theres a great deal to be done about that!

The article Clariman linked to is a good read with some great advice.