Icesave - 11 Days Later & We Are No Wiser

Polka_dot_4

I had the misfortune last year of being the victim of a debit card fraud. It took my bank well over a month to reimburse me from being alerted via phone call to them sending out forms, me filling them in, them investigating, cancelling mine and OH's cards, aggreeing that indeed neither OH or I had used the card to fly from Kuwait to Pakistan on that date as we had both withdrawn money in Scotland on the same day. Now that is one incident that the bank copes with a number of times a day and it took them a few weeks to sort out. Icesave is a total different ball game.

We have been given assurance that we will all get our money back and that assurance was made very quickly. I just don't get the angst and impatience when it surely is being sorted. As I said before, I really do feel for anyone who is relying on immediate funds from Icesave

KingL

The reimbursement process seeks to accomodate and prioritise urgent cases. People in urgent need should make their case to the FSCS (in whatever form that may take) and it will (apparently) be accomodated as much as possible.

meanmachine_2

Polka_dot wrote: »

I had the misfortune last year of being the victim of a debit card fraud. It took my bank well over a month to reimburse me from being alerted via phone call to them sending out forms, me filling them in, them investigating, cancelling mine and OH's cards, aggreeing that indeed neither OH or I had used the card to fly from Kuwait to Pakistan on that date as we had both withdrawn money in Scotland on the same day. Now that is one incident that the bank copes with a number of times a day and it took them a few weeks to sort out. Icesave is a total different ball game.

We have been given assurance that we will all get our money back and that assurance was made very quickly. I just don't get the angst and impatience when it surely is being sorted. As I said before, I really do feel for anyone who is relying on immediate funds from Icesave

You're comparing apples with oranges.

First, you were the victim of a crime and due process had to be gone through.

Secondly, it wasn't YOUR money (and therefore interest) you were losing out on.

Again, your passivity is staggering. No wonder we get shafted in this country if people feel like you.

KingL

meanmachine wrote: »

Again, your passivity is staggering. No wonder we get shafted in this country if people feel like you.

It's only been 8 working days.

There is clearly some progress being made (from the fscs update this evening). Fine, don't get taken for a mug but, by the same token, give 'em a chance!, Eh?.

Polka_dot_4

I'm just realistic on the timescale meanmachine. 300,000 different accounts, some basic deposits, some Isas, some fixed rate - whatever, there is a huge amount of different needs and permetations on each account to go through before FSCA can print out forms for each customer. From what I understand, certainly in my own situation with 2 cash Isa's in Icesave, I need to have in place some transfer system so that I do not lose my isa tax wrapper. I have not looked into what other implications there may be, but I am assuming that that is what FSCA are doing so as to ensure that all Icesave customers get a fair deal. This takes time

innovate

meanmachine wrote: »

Secondly, it wasn't YOUR money (and therefore interest) you were losing out on.

Eh? If a fraudster uses someone's debit card to buy a flight, it's not the 'someone's' money?

Explain.

innovate

KingL and Polka_dot, agree with your assessment of the situation, I think you are spot on.

chodges84

I can't understand why people are on about being 'passive'. It has been 12 days since they collapsed. DId you think Iceland were just going to happily write out a cheque for £4 billion and be done with it?

The Tresaury have guaranteed peoples savings that were higher than £50,000 and judging by the message posted today on the FSCS website, we may start to see some action next week.

This is extremely complex, we are talking about billions of pounds owed to hundreds of thousands of people from a country that is virtually bankrupt. With all the will in the world, ths whole thing couldn't have been sorted out in under 2 weeks. I am pleasantly pleased to have seen mention of 3 months rather than the 6 I was expecting.

I'm not saying people should be pushed over and forgotten about, I do not think that after 12 days people should be furiously writing letters to MP's demanding action. It reminds me of a child who wants his new toy there and then. No matter how much he stamps his feet and screams and cries, he won't have it until he gets home.

And the Dutch Icesave was very young, they had a lot less savers, hence the faster response times from their government.

And just to make it clear, I have money in Icesave, about £20,000 so I am obviously keen to get it back, but feel that we need to give the FSCS a bit more time and respect.

KingL

chodges84 wrote: »

I'm not saying people should be pushed over and forgotten about, I do not think that after 12 days people should be furiously writing letters to MP's demanding action. It reminds me of a child who wants his new toy there and then. No matter how much he stamps his feet and screams and cries, he won't have it until he gets home..

I agree. (I am in same sh*ty situation as the rest of you), but c'mon, this is going to take a bit of time. Let's be adult about this, eh?

meanmachine_2

innovate wrote: »

Eh? If a fraudster uses someone's debit card to buy a flight, it's not the 'someone's' money?

Explain.

Apols. I read that as credit card, not debit card.


Re: getting our money back, it's not about being childish or wanting to be given a present.

The "toy", the "present" is mine in the first place, and all I want is it returned. I don't expect it immediately. I would just like to be given a timescale, that's all.

If the FSCS said "this will take 3 months", fair enough. But we've been told nothing of any substance.