Will we see our Icesave cash before Christmas

zzyorkshirepuddingzz

AB31 wrote: »

If this is true, why the heck can’t they post this information on their website, one wonders? It seems to me that if the FSCS really wanted to they could repay private savers much sooner than by Christams, possibly (as someone else suggested) by funding the Icesave account and allowing repayments to be made via the existing passwords etc. My suspicion is that they’ve decided to go through the motions of appearing to be constructive in order to shut us all up, when in fact they don’t intend to repay a penny until they have clarified how much of our money can be salvaged from Icesave, which process could take several months.

I see from reports that Gordon Brown is thinking about reinforcing the present FSCS by increasing the compensation limit to EUR 100,000 and settling claims in 3 days. What a laugh. There’s no way that the FSCS could ever act that quickly. If they promised to do it inside 3 weeks, I‘d be happy with that, and happy to forgo any interest, but what I don’t like is the general lack of information, delays in updating their website, and giving out confused messages to different callers. I bet that it's because Icesave is a relatively obscure bank that they're not in any rush to sort things out. If it was a major bank that had gone belly up, I reckon that compensation would have been sorted by now, as the media would have piled on enormous pressure to resolve it, and virtually no other news would have got in the way.

I couldn't agree more. I've been thinking this for days! Well said!

st

where is MARTIN ??? he can help us and put some pressure to get the correct information -but sadly "very quiet and no response"????

Optimist

st wrote: »

where is MARTIN ??? he can help us and put some pressure to get the correct information -but sadly "very quiet and no response"????

Good grief!

Patr100

st wrote: »

where is MARTIN ??? he can help us and put some pressure to get the correct information -but sadly "very quiet and no response"????

Give the guy a break. He will undoubtedly report when he has real info not speculation. So what if there's some uncertainty and we have to wait . Do you want someone to hold your hand all the time?

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innovate

AB31 wrote: »

but what I don’t like is the general lack of information, delays in updating their website, and giving out confused messages to different callers.

I don't perceive a "general lack of information", and so far have not seen any "delays in updating their website". They have so far provided updates as they have promised. The current promise is for another update "by the end of this week".

As to "giving out confused messages to different callers": could it be that the confusion stems from people reporting confusingly? I haven't called the FSCS myself (mainly because I am of the view they can deliver faster if they aren't being pestered every five minutes) but somehow doubt that the FSCS pass on confusing messages.

Why can't people just read what's available officially (on the FSCS site, and on Martin's main site) instead of developing all sorts of theories, and panicking when they have read yet another more or less well informed journalist's column-filler?

We are going to get our money, together with the precise details on interest etc. Just stay calm.

gogsboy

st wrote: »

where is MARTIN ??? he can help us and put some pressure to get the correct information -but sadly "very quiet and no response"????

Was Superman not called Clark

cwcw

"It has also emerged that the FSCS, which is responsible for compensating the 300,000 Icesave customers who have lost their savings thanks to the collapse of Icelandic bank Landsbanki, cannot guarantee that savers will have their money back before Christmas. "

"
The organisation has not yet sent out letters to customers explaining how they can claim their money back, even though EU law states that compensation due after a bank failure should be paid within three months. This law applies whether the money is due through the FSCS itself or through a "passport" scheme, where the money is due from another country, as was supposed to be the case with Icesave. "


http://www.telegraph.co.uk/finance/personalfinance/savings/3210500/Icesave-accounts-disappear-from-website.html


:mad: :mad: :mad: :mad:

StarRover

AB31 wrote: »

My suspicion is that they’ve decided to go through the motions of appearing to be constructive in order to shut us all up, when in fact they don’t intend to repay a penny until they have clarified how much of our money can be salvaged from Icesave, which process could take several months.

I think you're absolutely spot on! When the media spotlight was on them, the Government made all the right soundbites but now that interest has waned, nobody should hold their breath while they're waiting for their money back.

Methusala_3

Sorry - just skipped over from the KE forum....my guess is that this process will be a dry run for the FSCS - God alone knows how they would have coped with a bit retail bank going belly up. The FSA 'phone jockeys were seriously ill informed on the KE CHAPS/BACS disappearing payments scenario as it unfolded early last week..clearly this is an organisation not prepared in any shape or form to deliver against its remit.

Meadows

investor7 wrote: »

I think that we Icesavers should have pen ( or keyboard ) at the ready to write to our respective MP's, so that if the FSCS do not have a concrete plan tomorrow for how and WHEN we are going to recover our money then we start lobbying our local MP's. And hopefully some of them will raise questions in the House of Commons perhaps at Prime Ministers Questions.
By my reckoning if there are 300,000 Icesavers and roughly 650 MP's in Parliament then that means that each MP in the country has about 461 Icesavers in his constituency. Now all of these votes could be crucial at the next election, for instance i happen to know that my local MP has an extremely small majority and these 461 votes could tip the balance.
It should i think be fairly easy to get one's local MP's email adress as it should be available on the House of Commons website.

If anyone wants to contact their MP here is info:

http://www.writetothem.com/