Icesave FSCS comp news?

sheslookinhot

I'm quite relaxed about that news. :cool: The savings I had was for longer term anyway, both in ISA and savings account. So, was in no hurry to get access.

For others, it will take as long as it takes so don't be concerned about it. Let it happen.

The main thing is we are getting our savings back. I appreciate that others may have wanted to make withdrawals for other commitments

Pssst

Just sit tight and dont stress. At least ordinary depositors ARE getting it back. Some will get nothing.

cwcw

I thought this announcement was disappointing. I was under the impression that the government was paying us out and THEN chasing Iceland for the compensation to offset it. Now, to me, it reads as though they're doing it the other way round, which will severely affect the timescale. Since interest is no longer applicable, several months means several hundreds of pounds, so "no UK depositors will lose any money" is not strictly true.

Having said all that though, I'm still very grateful to know I will be getting it back at some point! :money:

darude

Pssst wrote: »

Just sit tight and dont stress. At least ordinary depositors ARE getting it back. Some will get nothing.

I don't think Martin Lewis would have recommended it otherwise, but I'm not happy with the lack of information and the delay. They're not handling this very well.

k8r4u

...
...
Meanwhile, HM Treasury has given reassurance that savers' money is safe and secure ...

... on the favourite in the 2:30 at Chepstow tomorrow :beer:

Satscene

wonder if the FSCS aren`t dragging their heels in the hope of a buyer similar to the ING deal with Kaupthing??

bryanb

Pssst wrote: »

Just sit tight and dont stress. At least ordinary depositors ARE getting it back. Some will get nothing.

Some of us "ordinary depositors" rely on the monthly interest payments to live on. Naturally we can survive for a while, but basically no interest payment means financial hardship.

nilrem_2

bryanb wrote: »

Some of us "ordinary depositors" rely on the monthly interest payments to live on. Naturally we can survive for a while, but basically no interest payment means financial hardship.

I am in that position but I am just so grateful that they have promised our money back I don't mind waiting a few weeks.

agsnu

Satscene wrote: »

wonder if the FSCS aren`t dragging their heels in the hope of a buyer similar to the ING deal with Kaupthing??

Except that since Landsbanki is an Icelandic company they do not have the legal power to sieze control of the UK operations and peel off the deposits business.

Patr100

nilrem wrote: »

I am in that position but I am just so grateful that they have promised our money back I don't mind waiting a few weeks.

Indeed. I also rely on interest to top up my small part time earnings but given that we were all staring at the abyss on Monday, while losing even a month or two of interest is not great it's far far preferable to what might have happened.

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