Will we see our Icesave cash before Christmas

OOPS

arnt we all.I would expect dithering until it effects political credibility , its easier to say - your all covered and then worry later , claw back what you can , freeze assets , make interst on them , wheel and deal a bit with the ' forzen ' cash and @then pay back .The truth is i would trust none of these people in people and be aware were the lowest on the food chain .It could be 3 weeks for sure , lets face it they have the cash !!!!but it could be later , my guess is thye will try to hit savers with the cash just in time for christmas so we all go - 'arnt gorden and darling just wondeffull human beings.They have given us back our money they had all along.........2 months later.Be cynical and realise these people play games to win votes , to cover their backs and to line their pockets.They didnt have to cover or gurantee savings of icesave people but they also didnt have to say they would stop boom and bust , the didnt have to let bankers have huge payouts and take risks , they didnt have to encourage HUGE borrowing ( to replace the uks none xistant manufacturing and industry )But they did and they caused all this - the whole world political and economic establishment - so remeber who is feeding off you and expect your cahs when they see fit and when it best suits them......

nmsan5 wrote: »

I'm confused. Landsbanki has been nationalised and is merrily trading in Iceland (http://www.landsbanki.is/) and the UK branch seems unaffected (http://www.landsbanki.co.uk/). So presumably it isn't insolvent. Therefore I don't understand the legal basis for Icesave depositors' funds being 'frozen' or indeed what 'frozen' means in law.

Meadows

renard wrote: »

Come on, guys, I think some of us are being a bit unfair and overly optimistic in expecting swift results.

This is an unprecedented situation with enormous risk of further c**k-up if it isn't handled properly. Then we would be the first to complain!

Surely no reasonable person could expect the joint UK / Iceland team working on the compensation arrangements to come up with an instant solution.

I know some of us are in desperate need of the cash (me included), but we have no option but to be patient and trust that Them Over There are working hard on our behalf.

Incidentally, it seems from AB31's post above that I DID hear correctly on Sunday's Money Box: despite previous rumours, it appears that interest will be payable only until the date the bank crashed. :mad:

No one is expecting swift results and yes we are all prepared to sit and wait, but a little information goes a long way, why should everyone have to speculate & worry when all it takes is a little bit of an update as to what the state of play is!

LGG_2

re the earlier posts from ppl who are still getting monthly intrest added i was due yearly intrest on monday from an easy access account. nothing has been added. i presume monthly intrest is still being added because the process of getting intrest has been up and running since they opened the account.so it just gets added automatically.where as with a yearly intrest its a one off payment??

jm0221

FYI, I have an easyaccess Icesave account and didn't get my monthly interest added on the 12th as normal, contrary to others. Don't care that much as its ~£25.

Meadows

I did receive my interest on the savings account on the 8th, but haven't received anything on the Isas.
It's not due yet but did wonder if anything would have been added because the accounts were closed, but then had to be re-instated, whether we see interest added by the due date remains to be seen.

In all honesty, the interest is not the important issue for me. I would rather the money be back under my control regardless of any loss of interest.

LGG_2

did receive my interest on the savings account on the 8th

was that monthly intrest or after a year?

In all honesty, the interest is not the important issue for me. I would rather the money be back under my control regardless of any loss of interest.

yeah of course and with one of my accounts the intrest was due now so interms of looking at it from a yearly point of view i havnt lost anything as the intrest will come with the compensation. but with both accounts im looking at around £1600 intrest so an amount not to be sniffed at.

maybe the ontrest has stopped being added as ppl were saying around the 8th that they were still getting it.maybe a week in they have shut that part down?

Meadows

LGG wrote: »

was that monthly intrest or after a year?

yeah of course and with one of my accounts the intrest was due now so interms of looking at it from a yearly point of view i havnt lost anything as the intrest will come with the compensation. but with both accounts im looking at around £1600 intrest so an amount not to be sniffed at.

Mine was monthly interest.

I can appreciate that a loss of £1600 is a fair amount of money to loose, but better some interest than most of your savings.

It's funny (and this isn't aimed at you), but last week all we wanted back was our savings and now we are getting bothered about getting all the extras back.

Last week all I was concerned about was getting my savings back, then a few days later I was adamant that I should have the £30 back that I was charged for the Chaps fee that was deducted but didn't happen (yes I did get the £30, and really what was the £30 compared to the potential loss of savings, still it was mine)!

LGG_2

very true medows. i totally get what you are saying. shows how fickle we all are lol

saxmund

hyposmurf et al, that's just my interpretation of what AB31 reported, so I wouldn't set too much store by it - having said that it sounds likely givem what the FSCS person said.

My Icesave ISA contains my cash ISA allowance for this year (and last) so I can't open a new ISA yet, I doubt a bank will accept a request to transfer in from Icesave and as I have used up this year's allowance I presume they won't let me open one for cash. I will just sit it out I suppose; if in the end the cash comes back without the tax-free wrapper, I will just pay it into the mortgage as that is what it is being saved for. Alternatively I suppose I could use my Stocks & Shares ISA allowance to open one at the bottom of the market :think:

Jotty99

This may be naive, but wouldn't the easiest way for the FSCS to give us our money back be to take over the existing Icesave bank account (which apparently has already been seized by the UK Gov't anyway), ensure that there's enough money in it and then we can all transfer the money out as per normal.

I also don't understand why the FSCS can't arrange for the payments over the £16,000 (which are due to be paid by Iceland), to be paid asap. At least those of us with money over the £16k limit would then get something back whilst they sort out a deal with Iceland!