Will we see our Icesave cash before Christmas

postie

My monthly transfers are stuck in the pipeline.
also a medium deposit also on the page it does not show in the cleared balance.
anyone know how will I go on about proving it actually happened ??

Cheers

Postie

AB31

Gambit wrote: »

So you have already opened an new ISA account then? Can I ask which one you went for AB31?

I too have been looking around but figured I would wait as things are changing so quickly at the moment, I figured that there was no point looking now as the ISA offer I find could have been gone by the time I get the money back. Also I wasnt sure if this would be seen as 'new money' or as an old ISA. As we will probably be getting the money straight back into our accounts therefore it really wouldnt be an ISA transfer would it?

I had a look at the best buy tables at the Daily Mail's "ThisisMoney" site and narrowed the choice down to Newcastle BS, Principality BS, First Direct. I spoke to the customer helpdesk at each, explained my predicament vis-a-vis my ISA in Icesave, and decided in the light of how efficient and courteous they seemed to be. I plumped for Principality Building Society, which is offering 6.00% for an instant access e-ISA. Their online application process is very easy and an account was opened instantly with zero balance, theoretically awaiting transfer of funds from Icesave. I then completed their ISA "transfer form" - which one downloads - with details of my ISA account at Icesave, and posted it off today. This means that Principality will send the request for funds to Icesave, and whether or not Icesave eventually get round to responding to Principality or to me directly, or if I get the money from FSCS, I do not care as hopefully this covers all eventualities. I've never dealt with this building society before but from my experience thus far I'm very happy.

Geoff_W

I was rather concerned by a comment made on Sunday night's Moneybox Extra, when one of the 'experts' said that anyone with a 1 Year Fixed Rate account would have to wait until the maturity date before getting their money back. If no interest is accrued after 8 October, then this will turn out to be an abysmal investment. One could argue though, that Icesave has broken the terms and conditions by ceasing to accrue interest, and that the 1 year contract is void.

Gambit

AB31 wrote: »

I plumped for Principality Building Society, which is offering 6.00% for an instant access e-ISA. Their online application process is very easy and an account was opened instantly with zero balance, theoretically awaiting transfer of funds from Icesave. I then completed their ISA "transfer form" - which one downloads - with details of my ISA account at Icesave, and posted it off today. This means that Principality will send the request for funds to Icesave, and whether or not Icesave eventually get round to responding to Principality or to me directly, or if I get the money from FSCS, I do not care as hopefully this covers all eventualities. I've never dealt with this building society before but from my experience thus far I'm very happy.

Ah ok, I'll look into them. Thanks for that! :beer:
Do let us know what happens with the ISA transfer form and whether Principality writes back to you informing you of what is going on with Icesave. Good luck!

saxmund

AB31, that's good service by Principality, often you can't open an account without putting any money in. Normally that isn't a problem as you can put a notional amount in, but with an ISA where you have already used up this year's allowance, it makes a difference.

Swipe

postie wrote: »

My monthly transfers are stuck in the pipeline.
also a medium deposit also on the page it does not show in the cleared balance.
anyone know how will I go on about proving it actually happened ??

Cheers

Postie

I'm in the same boat. I hope the FSCS form has a big box for extra info

LADY_GOLFER_3

The latest as far as i can see 13th oct

http://www.moneyfacts.co.uk/community/blogs/rumbels/archive/2008/09/22/icesave-are-my-savings-safe.aspx

Mee

Swipe wrote: »

I'm in the same boat. I hope the FSCS form has a big box for extra info

My cheque was cashed (according to my b/s) on Tues 7/10, but my account still says 'processed'; balance 0.

cwcw

renard wrote: »

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:

This doesn't tie in with "no UK savers will lose money" at all. If it's just a matter of weeks until we get our money then fair enough, but if it drags on for months it will be costing a lot of people hundreds or thousands of pounds. The worst thing is not knowing ANYTHING. Since our government made the promise they should be paying us back, and worry about getting what they can off Iceland afterwards.

Meadows

cwcw wrote: »

This doesn't tie in with "no UK savers will lose money" at all. If it's just a matter of weeks until we get our money then fair enough, but if it drags on for months it will be costing a lot of people hundreds or thousands of pounds. The worst thing is not knowing ANYTHING. Since our government made the promise they should be paying us back, and worry about getting what they can off Iceland afterwards.

I totally agree with you the worst thing now is the not knowing anything, we were told we would hear something by last Friday & that is passed and we are no wiser!
I am happy to wait for as long as it takes, but tell us how long it will take, keep us informed of what is happening.
I would sooner it be in our governments hands than revert back to Iceland to pay us!

Latest from money facts

http://www.moneyfacts.co.uk/community/blogs/rumbels/archive/2008/09/22/icesave-are-my-savings-safe.aspx
13th October - Icesave compensation forms to be sent out

Icesave’s UK customers should be able to find out on Friday about how they will be able to reclaim their savings. A spokesman from the Financial Services Compensation Scheme has said that Icesave’s UK customers will receive application forms for compensation for their lost savings in the next week.