Will we see our Icesave cash before Christmas

Reaper

I realise it is a stressful time but I think people need to calm down. As some have pointed out that article was about councils, universities etc not ordinary individual savers. You will get all of your money back.

I also don't think everybody constantly phoning up and emailing the FSCS is helping. Leave them in peace so they can get on with the job.

tuggy12

Why not just wait until the next promised update tomorrow?

When will I get it back?
As quickly as possible. HM Treasury, the FSA and FSCS are working closely together on the practical arrangements for paying back customers and the FSCS website will be updated with further information on Friday.

Meadows

LADY_GOLFER wrote: »

HI everyone

It seems as though we all have the same worries ie lack of information, updates on the FSC website seem to be few and far between.

Although we have had the promise our deposits are safe when are we going to actually see them in real terms. Some savers rely on this money to live on. Interest is not the issue its our deposits which concern most of us.

I would be interested on anyones thoughts on this
Cheers

I recently posted a topic similar to my comment above (#182), and basically got shot down, being told to be patient, sit & wait, why post another link!

I am prepared to sit & wait (have no choice), but no news is not always good news.

EagerLearner

I have just written to my MP also, just in case there is no more progress tomorrow re announcements.

Hopefully if enough of us do it, the MP's will have us all in mind tomorrow and Monday.

oql61

AB31 wrote: »

I think you must be missing the point. Obviously, if we all got our money back ASAP (like say in the next few weeks) then the matter of lost interest wouldn't matter so much. But the rumours are that we might have to wait up to 6 months before we get our money back, and anyone with a term deposit of 12 months will have to wait up to 12 months before they get theirs back according to FSCS's own website. So clearly the matter of interest is an issue, especially for those who have placed large deposits in Icebank (more than just a few £ thousands).

I agree with all those who say that initial euphoria is turning sour as a result of the complete lack of useful information coming out of the FSCS. I've found that there's no point talking to their helpline staff as they know nothing. I found the person spoke to a couple of days ago useless, lacking in sympathy, and sounded like a parrot.

Hear hear. The matter of interest is important. I have a fixed rate account maturing today in addition to funds in the easy access account. If I am to receive no interest from the date of collapse till (possibly) six months hence I will be seriously out of pocket. I, too, as a non-earning housewive, rely on this interest for income.

Ratatosk

st wrote: »

rcover only a 1/3 !! thus is not what Darling said last week -where is MARTIN to help us all here -in my opinion is wate of time to writer to mps-especially labour ones -they will no nothing .
Martin your help is required

This just seems to be a badly worded article. To me it reads either as:
1) Councils and other business investors may only be able to recover a third of their deposits.
2) Iceland can only cover a third of total deposits.

If (2) was the case then the FSCS and the treasury would have to make up the remaing two thirds for ordinary savers, business accounts may lose whatever extra they have invested. Wherever the money is coming from, ordinary savers will get 100% back.

The only question is when and how. Whilst we're all frustrated at the lack of information there would be no point having updates every day that simly stated that there was nothing new to say. I'd rather the next announcement be one that comprehensively lays out the process and timescales. Unfortunately the wheels of bureaucracy turn slowly, the wheels of 2 bureaucracies slower still, particularly when the cooperation between the two is overshadowed by political spats.

And I wouldn't be necessarily disheartened by the FSCS not having much information when querying them by phone or email. If this is similar to any other call centre then the people on the phones are likely to be poorly trained and have little direct knowledge of what is actually being discussed behind the scenes. Given the sudden increase in workload many of them are likely to be new. They will simply be told to dish out the usual platitudes and holding statements and won't be much wiser than we are.

vadek

Can't get into my bloody Icesave account again. I've already reset the password once and I'm getting p*ssed off with it rejecting my login details.

Edit: still can't get access with a reset password. Anyone else having problems again?

tuggy12

vadek wrote: »

Can't get into my bloody Icesave account again. I've already reset the password once and I'm getting p*ssed off with it rejecting my login details.

Edit: still can't get access with a reset password. Anyone else having problems again?

Just logged in without any problems.

amistupid

F.T. com report that "The government's watchdog that polices spending across the public sector itself placed millions of pounds in Icelandic bank accounts, Whitehall sources claimed last night.
The Audit Commission refused to deny it had up to £10m frozen in Reykjavik as news of its deposits spread."
Good to know that the Icelandic net didn't catch just us sprats (individual depositors) or just the big fish (Local Authorites etc) they caught this whale as well!

EagerLearner

It goes to show that the (small) savers themselves couldn't possibly foresee something that even the big fish/whales like councils, police and Audit Comission couldn't foresee.

I think we should await any news in the next 24 hours. If nothing, then I am sure lots of us will want answers by Monday but until then, I intend to enjoy my weekend and some relaxing, trying not to think about it.