BACS Transfers INTO Icesave

k3nnyc

I had set up a BACS payment on Monday 6th October to go from my current account to my Icesave easy access savings account. Only on Tuesday 7th October did I understand the full scale of Icesave's problems and phoned my bank to try and stop the transfer, I was told they could not do it. I've since found out that they could have but just chose not to, too much bother?

Now the problem is that the money did not reach my Icesave account and as of yet has not been returned to my current account. Is anyone else in the same situation, does anyone know what's going on with transfers IN to Icesave?

Ta

agsnu

Did you say it was BACS or Direct Debit?

k3nnyc

It's a BACS transfer, not Direct Debit.

Northants_Simon

I have the same issue, only mine went out on the 1st October for £900. It never arrived in my Icesave account and the sending bank didn't get it back. According to the sending bank it would have cleared in Icesave on the 3rd. Icesave show it as being processed, but it hasn't been credited to my balance.

I have no idea where the money is, but hope I'll get it back.

My bank (Lloyds TSB) seem to think it was a direct debit transfer, although I thought it was BACS. Apparently if it's direct debit you might be able to get it back from the direct debit guarantee if it didn't arrive at it's destination.

k3nnyc

I finally have some more information, not sure whether it's good or bad! An advisor at Icesave has done a search and has said that my credit did not arrive at Icesave as it would have turned up after Icesave had suspended all transactions, i.e. it's not in any of their "holding" accounts. Her quote was that, "it's stuck in a loop in the BACS system". So far my bank, The Bank of Scotland, have been less than helpful, still waiting on a call back from them......

agsnu

I thought all deposits to Icesave were initiated through their web site via a Direct Debit?

k3nnyc

No, I normally did my deposits using bill payment services with Bank of Scotland using the Icesave sort code and account number.

k3nnyc

Ok more news, as Icesave clear with Barclays in the UK, it seems that this money could be there, in an account frozen by the Government

Northants_Simon

So are the normal payments in done by direct debit? Eg, if you go to Icesave's websiste and set up a payment into your Icesave account.

I haven't been able to get hold of Icesave to find out where my missing £900 has gone. It does show as being processed on my Icesave account, but should have cleared before shut.

k3nnyc

I've never paid in that way. I managed to get hold of Icesave this morning on 0845 605 6050.

Good luck.

CarolAnn_3

My ISA was in the process of being transferred. It left Lloyds TSB on 2nd October by Direct Transfer. I even have the BIC and IBAN codes. However my money is not showing in any way in Icesave. I have had difficulty at both ends. LloydsTSB have been sympathetic, but less than helpful. I first asked for the transfer to be stopped on Sunday 5th October and was told I was too late. Since then I have been passed from pillar to post just trying to get a letter that confirms that the money was sent to Icesave since I am guessing that I may need some evidence for my claim at some point in the future. I am still waiting for a letter.
Icesave deny that this money could have been sent by direct transfer and claim it had to be a cheque.
The best I can hope for is to get some evidence of the money being sent, there is only evidence of it not arriving at present.