Will we see our Icesave cash before Christmas

Geoffo_M

edwinac wrote: »

If the case went to an international court, then it could drag on for years...

Besides, I'm not even sure that Darling has unequivocally said what everyone wants him to have said..

No need to be so over optimistic

Liz_the_Whizz

If it's money rather than FSCS man(person)power constraints that holds it up, it would be better to go for a staged approach where Icesavers get back up to £50k asap so people can get meet their commitments, with balances above that level being paid as and when.

After all, anyone with more than that amount is probably still mightily relieved to be seeing their money again anyway.

I feel sure that it will not be allowed to drag on beyond Christmas.

nearlyrich

http://www.moneymadeclear.fsa.gov.uk/news/firm/icesave.html

Just read this on the FSCS website, I only have about £600 in there so it's not a massive worry but it's my money and I do want it back ASAP....

I have lost significantly more in shares, investments wrapped in my pensions and ISA but I still believe it will all come out OK in the end, it has before.

k8r4u

Payments are still coming out from BCCI, 17 years after it went down in 1991

It'll all be over by Christmas, but nobody in the world can tell you which year I'm afraid.

SouthCoast

it will take the full three months before we see our money.

Can I ask where the FSCS says that it will pay out claims within three months?

Babycakes

Give it can take a few months to get your cash back and this was a small failure. Can you imagine how bad things would get if your main or only bank failed and you had no money to buy food, pay your rent, etc.

The government need to sort this out.

Patr100

As mentioned , Icesave were the only bank so far (I believe) to have gone down who were operating in the UK under the passport system, unlike KE , so it seems the option to simply takeover or merge and transfer accounts to another bank likely wasn't available although assets were seized, specially after iceland's refusal to honour its part.

Swipe

Babycakes wrote: »

The government need to sort this out.

Isn't that what they are trying to do?

pem2

SouthCoast wrote: »

Can I ask where the FSCS says that it will pay out claims within three months?

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/
But no 6 says 6months but doesn't guarantee it as I read it.
I also thought I saw 3months but I think it was on the Icelandic FSCS or Icesave's website and could conveniently be removed.
In a situation like this where an institution has failed they may not play exactly by the rules.

[Deleted User]

I believe we will see it before xmas as its potentially a vote winner for brown.

The country likes free money and doesnt realise that it only devalues the old money.