Icesave FSCS comp news?

Hook_line_and...

I'm sure i read somewhere (on-line paper i think) that this whole thing may take uptill christmas to resolve! in which case this could indeed be a long haul..not good.

Just on another point, when Mr Darling says that we wont loose money through icesave's 'closure' what happen's if it doesnt actually close, i mean as in cease trading completely?

Swipe

You'll have to wait. Most people will have placed deposits in fixed term savings anyway so what's the rush? Anyone who had deposits in easy access accounts should have got them out last month when it was inevitable that the bank could have failed any day.

meanmachine_2

Swipe wrote: »

You'll have to wait. Most people will have placed deposits in fixed term savings anyway so what's the rush? Anyone who had deposits in easy access accounts should have got them out last month when it was inevitable that the bank could have failed any day.

Pathetic comment.

You do realise that it was Brits rushing to take their money out of icesave over the weekend that contributed to its collapse, don't you?

Jeez.

Swipe

meanmachine wrote: »

Pathetic comment.

You do realise that it was Brits rushing to take their money out of icesave over the weekend that contributed to its collapse, don't you?

Jeez.

The writing was on the wall way before that. It was just a matter of time but I agree it probably sped things up.

f_@_w_y

Swipe wrote: »

The writing was on the wall way before that. It was just a matter of time but I agree it probably sped things up.

its not the time to argue. Just relax, and hope we get everything by christmas.

Again, dont panic, the british government has done whatever they can do!!

Patr100

One commentator lat night said it would take "weeks not months" - a newspaper today (which always tend to err on the pessimistic ) says we will be "lucky" to get the money by xmas.
The fact is we just don't know and the FSC aren't saying yet -

noh

Patr100 wrote: »

One commentator lat night said it would take "weeks not months" - a newspaper today (which always tend to err on the pessimistic ) says we will be "lucky" to get the money by xmas.
The fact is we just don't know and the FSC aren't saying yet -

Both could be true it is only 11 weeks to Christmas!

wes88

They should say .. we anticpate X to X weeks at this moment .. or something.

Its now moving towards "yes, well give you the money, speak to me on Friday" and then "Yeah, still doing it. Let me get back to you" .. etc etc

I really would prefer they said say December 30th .. thats done .. rather that than faffinf and happening to get it earlier.

Gordon .. get a timetable up on that site!!!!

Plasticman

agsnu wrote: »

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.

I wonder if that is linked to the onging visit to Iceland by some of our treasury officials. Maybe they are trying to get agreement for somebody else to take over the Icesave savings business. There must be more going on than just claims being made through the FSCS. Otherwise, you would imagine the message would just say "we will soon contact you with a claims form to complete".

As others say, just a case of wait and see now. I'm just very grateful that I'm going to get my cash back!

Trollfever

The FSCS has never had to deal with the current situation before, and I cannot recall them making any specific announcements that they would deal with any claims on a time limited basis.