FSCS Icesave announcement

innovate

oh for goodness sake, not another new Icesave thread with information that's already in the other threads on the subject (and yes, I do have money on ice in Icesave).

Are there any Board Guides on this board who are merging threads????

Grumpy_Old_Duffer

oldfella wrote: »

FSCS proposals for accelerated payment process being considered in Iceland (17 October 2008)

Over 200,000 UK savers with around 300,000 accounts at Icesave, the UK branch of Landsbanki, are a step closer to getting their money back this week, as the authorities in the UK and Iceland work on the process for accelerating the payment of compensation to them.
The FSCS, together with representatives of H M Treasury, the Financial Services Authority and the Bank of England, met with counterparts in Iceland last weekend. Significant progress was made and an accelerated approach to paying compensation was agreed in principle.
Since then, the UK authorities have been working on the detail of alternatives to the conventional, form-based compensation process and these have been put to Icelandic counterparts for consideration.
FSCS Chief Executive Loretta Minghella said today: "Our message to savers entitled to our protection is simple: your money is safe. Our paramount concern is to ensure that you get it back as quickly as possible, so we are doing everything we can to agree an innovative solution which will significantly accelerate the process."
Meanwhile, we have been working closely with the systems operators for Icesave, so that we can get timely access to the data we need to verify claims. We are pleased to report that we are receiving excellent co-operation from them.
The Authorities hope to settle the process over the coming days, and expect to issue guidance next week about how savers will be able to claim their money.

They must have read my post (no. 32) http://forums.moneysavingexpert.com/showthread.html?t=1223893&page=2 on here from yesterday

Stormy

Yes, just transfer my ISA elsewhere and then let me get control of it again, how hard is that?

nilrem_2

Grumpy_Old_Duffer wrote: »

They must have read my post (no. 32) http://forums.moneysavingexpert.com/showthread.html?t=1223893&page=2 on here from yesterday

Or they may have read the thread I started on the 9th Oct here _:
http://forums.moneysavingexpert.com/showthread.html?t=1208563

:D

Grumpy_Old_Duffer

nilrem wrote: »

Or they may have read the thread I started on the 9th Oct here _:
http://forums.moneysavingexpert.com/showthread.html?t=1208563

:D

nilrem_2

Grumpy_Old_Duffer wrote: »

Lol :p:p:p:p:p with brass knobs on! :rotfl::rotfl:

cwcw

StarRover wrote: »

"Since then, the UK authorities have been working on the detail of alternatives to the conventional, form-based compensation process and these have been put to Icelandic counterparts for consideration".

I know this is radical but how about, I log on to my account and transfer the balance to my bank account!

That's what I call blue sky thinking. :beer: :rotfl:

tommygun

sorry to break up the one upmanship, but does anyone know if any Kaupthing Edge people have had their deposits returned to their accounts? Or at least arrived at their destinations?

KingL

try searchy mcSearchsearch, possibly here : http://forums.moneysavingexpert.com/showthread.html?t=1205063
possbly deeper, where only sulphur-based lifeforms live .......?

DX-SFX

I don't understand why this can't be sorted out in days rather than months. It's no different than any other form of online banking. I wouldn't be surprised if the accounts were transferred to a new holding account so that cash ISA transfers can go through without losing their tax free status whereas a simple online transfer from one account to another done by the depositor may be misunderstood as a cash withdrawl from the Icesave/ISA system. Transferring the lot to another provider would make sense and then let people transfer/withdraw accordingly.

Having said that, I don't care as long as they get on with it.