Icesave - 11 Days Later & We Are No Wiser

moola_3

If the FSCS are locked in serious negotiations with Iceland intent on screwing the best deal out of them on behalf of the British taxpayer then I can accept the absence of intermediate bulletins from them for the moment as the work is in progress. But they did promise an announcement today ( I was told so when I phoned them) and when a government department or agency sees an advantage in getting their message into the press they are sure to make an announcement before lunchtime. Later on Friday afternoon the whole Westminster/media shebang is already well on its way to its weekend retreats and the whole thing winds down. So I will be surprised if there is announcement today, though I would like to be proved wong in my doubt.

Some would say then just wait and see, no advantage in anticipating. I would disagree. My own instinct is that today should be the turning point in this matter - today we should either know that forms are in the post and a timescale for repayment or be prepared to take more vociferous action on Monday morning at 9AM - anything else is in danger of looking like our own lack of self-respect.

moola_3

Optimist - I said in retrospect stupid - your irony detector may be turned down too low!

oql61

Has anyone else got a fixed term account that has recently 'matured'? Has any money been transferred between accounts? Mine did yesterday but as yet I have seen no activity on checking my Icesave accounts. The initial deposit plus interest is supposed to be transferred to my easy access account (ha!), for what that is worth.

Lucky people who have fixed rates yet to mature. It seems they will certainly be better off (although, I'm sure I've read, the interest will be added at between 4 and 5% - i.e. below the rate of inflation).

I am totally gutted about all this. I had the opportunity to withdraw £27K on friday 4th October, but used BACS not CHAPS, and so it was bounced back. Too mean to pay the £20 and now potentially £2000 worse off. I could kick myself!

I agree that we need to step up pressure media-wise. An estimated waiting time of 6 months plus is totally unacceptable.

Satscene

Quote:
Originally Posted by moola
anything else is in danger of looking like our own lack of self-respect.

yes, government may well take the attitude of - oh well, if they`re not that bothered then why should we be.

I`ve just now mailed my MP and i suggest you all do the same, after all that`s what they get paid for.....;)

http://www.writetothem.com/

amistupid

isofa wrote: »

The FSCS terms for payments aim to be up to 6 months to be paid out from a collapse (but in more complex cases longer)

Sounds like a warranty from a dodgey second hand car dealer

st

Satscene wrote: »

Quote:
Originally Posted by moola
anything else is in danger of looking like our own lack of self-respect.

yes, government may well take the attitude of - oh well, if they`re not that bothered then why should we be.

I`ve just now mailed my MP and i suggest you all do the same, after all that`s what they get paid for.....;)

http://www.writetothem.com/

lets wait last week the FSCS upated on 11th Saturday

OOPS

I was told icesave havent processed any transfer since the 3rd . . .they told their workers this on the 7th ! and basically since the 3rd no actaul money should have cleared according to icesave workers ( who were informed this ) so you wouldnt have made it on the 4th.

As far as the fcsc goes its no surprise.

1 week will me 1 month.........

the government lost the plot some months ago........ the bailout of icesave investors is basically so they can damage limit the downturn , these savings are key to the ukm stability as are councils deposits.My guess is they knew about the councils deposits LONG before the retail ones........they are making out the councils money isnt so important in the media to make voters feel good........in reality the councils will have their money back much quicker as its government money in reality and effects them much more than 'small little consumers ' savings.

its immoral but thats the nature of politicians and business . . .none of its based on kindness goodwill and sharing and its about time people woke up to what kind of people and system they work for and pay taxes to.......

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

I am totally gutted about all this. I had the opportunity to withdraw £27K on friday 4th October, but used BACS not CHAPS, and so it was bounced back. Too mean to pay the £20 and now potentially £2000 worse off. I could kick myself!

meatandtwoveg

Pandora123 wrote: »

For anyone who has a fixed term account with IceSave:

8. Will you compensate me for any interest I have earned on my account?

Interest owed to the depositor as at the date the bank is declared "in default" by FSCS will be paid as part of the compensation amount. Notice accounts will be paid as if notice had been served on the day the account was frozen and payment will be made, including interest, at the end of the notice period. Fixed term accounts will be paid at the maturity date with the interest that would have been paid by the bank at maturity date.

LINK

So it appears that those with fixed terms maturing months out, will be better off than those with fixed terms maturing imminently (or those with easy access accounts), because they'll receive full interest on their savings.

So if you have a fixed term bond account, not maturing for say 12 months, but you opted to recieve your interest monthly, now instead, are you saying you will recieve your whole stash back in full, along with all interest owed at the end of the term? If so whippy do!:T

KingL

with the interest that would have been paid by the bank at maturity date

.. this bit would suggest that this ray of light is less likely to apply to ppl who receive their interest monthly, but only to those who would be getting a lump sum at the end of the full term. Either way, it looks a bit too good to be true :huh:

moola_3

st wrote: »

lets wait last week the FSCS upated on 11th Saturday

Yes, that is true. I don't want to over-react. But, then again, I don't want to under-react either!

Anyway, if we are left in the lurch much longer more ppl will be feeling a bit queasy about the whole afair - and then I will implement my plan of setting up a pressure group called DE-ICER -- that is: Demand Every Icesave Customer's Emergency Refund. Let's spray something on their windscreen! I'm afraid the ozone layer will have to go hang for a while.