Icesave - 11 Days Later & We Are No Wiser

f_@_w_y

thomas0735 wrote: »

First of all a GREAT BIG THANK YOU to Martin and everyone at MSE. Nobody in our house blames you for our money being stuck n Icesave as you explained the risks before we opened our account and you kept us informed throughout and we know that you will be there every step of the way to help us as we try to reclaim our money! We think Martin deserves a knighthood as through his invaluable advice and help we have saved and reclaimed lots of money, over the past two years since I discovered this site and I am always telling everyone, even complete strangers, that for any advice whatsoever to alsways check out MSE for advise and to sign up for the weekly newsletter and we even drive around with Martin's car sticker proudly on the rear view windown for everyone to see.

Now for my query. My mum has an ISA with Icesave, but has been away till recently so today was the first day I was able to have her login details (I help her with computer issues as my mom isn't very computer savvy LOL). Now following the advice given, we printed off a copy of her Icesave account ready for when she can start reclaiming her money but there was a question that arose from it and I'm hoping someone here might be able to help.

On the 2nd October a DD went into my mom's ISA of £35 but hadn't cleared on the 9th October which is when her account became frozen. Therefore on her statement she has two different figures, one the proccessed balance as of the 9th October, which includes the £35 DD and one the cleared balance as of 9th October which is minus the £35. Will the £35 have cleared as I have checked and the £35 hasn't gone back into her original account?

Thanks again to Martin and the team and averyone else for their help

I think this is Martin himself!!! :money:

f_@_w_y

EBG wrote: »

Is it wise for everyone to keep sending letters and emails to the FSCS. If they have to deal with everyones complaints surely they wont be able to deal with the business of getting our money to us!!!

I personally think we should all calm down and wait a few more days to allow them to deal with the main issue of getting our money back to us!!!

Having to reply to everyones queries will only delay things longer.

My dear.... things wont get resolved unless you dont care....

Think.... if the bank hasnt been technically declared BANKCRUPT... think how much profit they are making from £3bn a day.

You do the mathematics.... We should know the answers as soon as possible.

Only VERY RICH or people that have one-two years fixed deposit can afford to stay calm. But think of the ppl are were surviving on this money.

Sorry, If I am too aggressive!

[Deleted User]

I have already had responses from some of the people I e mailed in wales
first one copied and pasted

Please see below the first response from the office of the Plaid Cymru MPs.

As they are not your constituency MPs there are certain rules to observe. Nevertheless your comments are valuable.

Chris

Ian Johnson

To: Franks, Christopher (Assembly Member)
Subject: Icesave

Hi Chris

Obviously, we can't raise the individual circumstances, but I've forwarded this to Sheila (Elfyn's PA) in Dolgellau. She's waiting for a response from the Chancellor on this and will forward the letter on to Mrs******** when we get something back.

[Deleted User]

second one:

Many thanks for your email. I am very sorry to learn of your problems.
You will appreciate that this is a huge mess which I fear will take time
to sort out. It is dreadful that ordinary hardworking families should
be put in such difficulties. If you don't mind I will bring your email
to the notice of the Plaid Cymru MPs. I am sure that they appreciate
the problems but every bit of personal information is helpful.

I am truly distressed that you and your husband have been treated in
this way. The failure of the banking authorities is a disgrace.

Chris Franks
Plaid Cymru AM

EBG

f_@_w_y wrote: »

My dear.... things wont get resolved unless you dont care....

Think.... if the bank hasnt been technically declared BANKCRUPT... think how much profit they are making from £3bn a day.

You do the mathematics.... We should know the answers as soon as possible.

Only VERY RICH or people that have one-two years fixed deposit can afford to stay calm. But think of the ppl are were surviving on this money.

Sorry, If I am too aggressive!

I dont think your aggressive!!!

I know everyone wants there money back as quickly as possible, including me. But we all knew that this wouldnt happen quickly and I think we should allow them some time to sort the problems out before we all start complaining.

This isnt a straight forward claim from the FSCS so im sure it will take time to sort out how and when we will all get our money back! I would rather wait for the correct information thanbe told false statements that they can't keep!!!!

st

kittie wrote: »

second one:

Many thanks for your email. I am very sorry to learn of your problems.
You will appreciate that this is a huge mess which I fear will take time
to sort out. It is dreadful that ordinary hardworking families should
be put in such difficulties. If you don't mind I will bring your email
to the notice of the Plaid Cymru MPs. I am sure that they appreciate
the problems but every bit of personal information is helpful.

I am truly distressed that you and your husband have been treated in
this way. The failure of the banking authorities is a disgrace.

Chris Franks
Plaid Cymru AM

well done kittie some quick response and to think the FSCS have now all misled us and lied in indicating that there would be an update end this week -we need to keep the pressure on and if I do not get any replies from the mails to DaRLING etc next week then I will send again and again this lot can not be trusted

[Deleted User]

I have never voted plaid and my mp is labour so I am very impressed with plaid speed of reply. No doubt it is anti-labour ammunition for them but I don`t mind

Reaper

MG1 wrote: »

Fixed term accounts will be paid at the maturity date with the interest that would have been paid by the bank at maturity date'
... I suppose this is good in some ways in that we will not be losing any interest while the FSCS are dragging their feet but the bad news is that you won't see your capital or any interest until the end of the fixed rate term.

Why is everyone so negative on here? This is great news for people with fixed term accounts.

At a time when interest rates are starting to be reduced you are going to continue to be paid a high rate all the way through to maturity. Not seeing the capital until then is clearly not a problem or you would not have signed up for the term in the first place.

In my opinion the FSCS has been very generous on this issue. More than they needed to be.

(On a side note thanks for the info on notice accounts. I have updated the FAQ with it)

Geoffo_M

I can understand the amount covered by the 'passport' scheme i.e. around £16,000 taking a while to finalise whilst the 2 governments haggle over terms etc. But surely, there can be no reason for delaying the amount covered by the FSCS i.e total claim less £16k. Why should this take months to settle?

Geoffo_M

Reaper wrote: »

Why is everyone so negative on here? This is great news for people with fixed term accounts.

At a time when interest rates are starting to be reduced you are going to continue to be paid a high rate all the way through to maturity. Not seeing the capital until then is clearly not a problem or you would not have signed up for the term in the first place.

In my opinion the FSCS has been very generous on this issue. More than they needed to be.

(On a side note thanks for the info on notice accounts. I have updated the FAQ with it)

It's not clear whether this applies to fixed term that pays monthly interest?