Icesave FSCS comp news?

manhattan

Any news yet from the FSCS about compensation from Icesave?

I think they were supposed to give us news by today?

riad_2

Last I heard was "by close of business"... not too sure if that means 5pm or..?

Will keep an eye on the FSCS website.

Baldur

riad wrote: »

Last I heard was "by close of business"... not too sure if that means 5pm or..?

Will keep an eye on the FSCS website.

It actually says:

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.

jm0221

Is the update on the site new? Dated 10th but nothing firm yet in the dialogue. Devils in the detail after all.........

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

climbgirl

I think they've just posted because they said they would by close of play today....but there's nothing new. Guess this takes a while to sort out, looks like we'll have to wait until next week to find out what happens next.

LumpyCustard_2

jm0221 wrote: »

Is the update on the site new? Dated 10th but nothing firm yet in the dialogue. Devils in the detail after all.........

Yep, that's just appeared in the last few minutes as far as I can see. So we still have to wait.

LADY_GOLFER_3

HI JUST COPIED THIS OFF THE WEBSITE IS THIS THE LATEST?



FSCS update for Icesave customers (10 October 2008)


As you know, Icesave (the UK branch of the Icelandic bank Landsbanki) was declared in default by the Financial Services Authority on Wednesday and the Chancellor of the Exchequer announced on the same day that he had put in place arrangements to ensure that no retail depositor would lose any money as a result of the closure of Icesave.
Since Wednesday, FSCS and the other UK authorities involved have been working together and with the Icelandic authorities to establish the best process for getting you your compensation entitlement, having regard to the Icelandic Fund's responsibilities, our own obligations and the Chancellor's announcement. Discussions will be continuing over the coming days on the most efficient way forward.
Many callers to our helplines have enquired whether they will need to make separate applications - to Iceland, to ourselves and to the Government. We remain hopeful that we will be able to reach agreement on arrangements which will mean that you only have to deal directly with one of the three organisations, the FSCS.
We will post a further update on our website as soon as we can, and expect to be able to give you firm news by the end of next week. But there is no need to take any action at this time.
Our focus is on making sure that those entitled to our protection get our help as quickly and efficiently as possible. We are committed to finding the best way of delivering FSCS protection to you and relieving you of the worry we know you are experiencing. Meanwhile, HM Treasury has given reassurance that savers' money is safe and secure.
For more information, please watch our website or call our helpline on 020 7892 7300.
Please note that due to higher than usual demand it may take us longer to answer your calls and emails. We apologise for any inconvenience this may cause.

favemuppet

So we've got to wait another week before we find out whats going on. Oh well that's all right then.........

I know they are doing their best for us, but we just want closure so we can move on.

darude

How do I get my money back?

There is no finalised procedure set up yet, as there hasn't been a pay out of this scale from the FSCS before. The FSCS has said it will be publishing more information tomorrow (Friday 10th)

Source: http://www.moneysavingexpert.com/savings/safe-savings#iceland

It's now Friday the 10th, we have all been patience enough to wait a long working week, so how do us Icesave depositors get every penny of our money back?

climbgirl

They've posted a message saying they're working on it and they'll give us more information next week - check the FSCS website.

It's a complicated thing, it'll take some time to sort out and it could be some months before you get the money back. Have a little patience, this isn't going to happen overnight and I'd rather they took the time to get the process up and running smoothly!

Comfortably_Numb

favemuppet wrote: »

So we've got to wait another week before we find out whats going on. Oh well that's all right then.........

I know they are doing their best for us, but we just want closure so we can move on.

If they are going to pay us back, when strictly they dont have to, I'm happy to wait a little longer for them to make arrangements.

It will be better them sorting out everything for us than if we'd have had to go through Iceland.

I'm just relieved, and thankful to be getting my money back.