Will we see our Icesave cash before Christmas

geosaver

"A £100m loan is being given by the Bank of England to the UK arm of the collapsed Icelandic bank Landsbanki to help repay the bank's UK creditors.A £100m loan is being given by the Bank of England to the UK arm of the collapsed Icelandic bank Landsbanki to help repay the bank's UK creditors."

From: http://news.bbc.co.uk/1/hi/business/7664007.stm

Bluebeard_3

A brief read through these threads seems to confirm what I have been thinking about my frozen icesave savings.

HMG are going to get our cash back for us or compensate us as promised. There is not one difinitive source out there that will tell you, for sure, as to an exact time scale, because no one knows.

But, I too wish it were going to be much faster.

It seems that it will be by the fastest route possible as soon as possible, and no amount of speculation, or other so called informed comment will make it happen any faster.

I have the latest and last print of my icesave account, with my account details and paperwork from when I opened the account. :T

Everybody who needs to know where I am to send the required forms or better still cash, have my details.

As a small fish in a very large murky pond I will lay at the bottom and wait, there is nothing you or I can do otherwise.

I intend to maintain my blood pressure as normal so that when the money comes back I can spend some of it on a holiday I was saving for.

Chillin at the bottom of the pond.....:beer:

AB31

geosaver wrote: »

"A £100m loan is being given by the Bank of England to the UK arm of the collapsed Icelandic bank Landsbanki to help repay the bank's UK creditors.A £100m loan is being given by the Bank of England to the UK arm of the collapsed Icelandic bank Landsbanki to help repay the bank's UK creditors."

From: http://news.bbc.co.uk/1/hi/business/7664007.stm

I've just read this BBC article and it makes little sense to me. There is no explanation of how the figure of £100 million is arrived at. It seems to read as if it's the amount required to enable Icesave to meet the first Euro 20,000 of claims (as per the Icelandic compesation scheme), but it's not clear. If this is correct, then anything above Euro 20,000 will be met by the FCSC. However, this process would entail a double claim for those savers with more than Euro 20,000 invested, which seems to contradict earlier assurances by the Chancellor that the FSCS would settle all in one go. It's also very unclear what's going to happen regards repayment of ISAs. Under normal procedures, one has to find a new ISA provider and get them to call for the funds to be switched out of the existing ISA, but presumably this can't happen in the case of a defunct bank like Icesave. I do wish we had much clearer advice.

f_@_w_y

geosaver wrote: »

"A £100m loan is being given by the Bank of England to the UK arm of the collapsed Icelandic bank Landsbanki to help repay the bank's UK creditors.A £100m loan is being given by the Bank of England to the UK arm of the collapsed Icelandic bank Landsbanki to help repay the bank's UK creditors."

From: http://news.bbc.co.uk/1/hi/business/7664007.stm

As per icelandreview.com, the approved loan in USD 4 billion. As per BBC, it is £100 million?? What is it???

redcar_2

matthew74 wrote: »

Regarding interest, I was credited my monthly interest on my ISA yesterday, so it seems there is still life out there.

Anyone else had some monthly interest? I've not had anything due on 10th on a fixed rate account - I wasn't expecting it but surprised to see some being paid.

Barcode

(ScarletBea here)

I thought that after the collapse everything had been frozen, but with people talking about interest I just went into my account to check and yes, the ISA interest has been credited last thursday.
Strange...

redcar_2

That is strange then - seems like fixed rate accounts are being treated differently to ISAs.

Anyone else missing fixed rate / term account interest??

cwcw

Barcode wrote: »

(ScarletBea here)

I thought that after the collapse everything had been frozen, but with people talking about interest I just went into my account to check and yes, the ISA interest has been credited last thursday.
Strange...

They're just automated numbers on a screen, not real money. The website is still functioning so will appear as though interest is still being paid. Realistically, I think we will only get interest up to the point of the banks collapse (calculated daily so you might get say 27 days interested instead of a full month for your last month in Icesave).

MKUX3

hopefully we will find out about our fixed rates sooon.,,,,,,,,,

matthew74

A loan of £100 million isn't going to go far between 250000 plus savers.