Icesave compensation payouts... how to keep the pressure up

jimbo5034

While so many icesavers are happy to wait months for their own money hy should the Government be in any hurry, more than likely when they do get funds back they will lend to the Government at nearly zero interest.
, and dont forget when Mr Darling gave that guarantee it was because the UK was on the brink of financial meltdown rather tan any concern for savers but now the situation has stabilised icesavers are way down the list of priorities. Their was no point in giving guarantees unless he gave instructions where the funds were coming from. Yes a protest is in order but have we got the right venue?

nilrem_2

meunier wrote: »

Just pointing out that ICESAVE (as opposed to Kaupthing and Heritable) had NO Corporate or Charitable depositors - they weren't permitted to take them - and consequently - on this specific score - would not be ruled out from an electronic transfer - which would be - as ICESAVE was - for individual retail depositors.

It was my understanding that some building societies etc had cash saved in Icesave, but then it's only what I read online so they could have misreported it as quite often happens.

tuggy12

amistupid wrote: »

This icesave fiasco is worse than a divorce, I've lost half of my assets and still got the wife! :mad:

Lol, a bit of humour amidst the despair.:rotfl:

T'Pau

amistupid wrote: »

This icesave fiasco is worse than a divorce, I've lost half of my assets and still got the wife! :mad:

Is she a liability?

hazyhazyhazy

I will be there on 6 th or 7th November. I think they have forgotton about us. I would feel better if thay gave us a date when it is likely for us to receive our money, even if it is after Christmas

nilrem_2

hazyhazyhazy wrote: »

I think they have forgotton about us. I would feel better if thay gave us a date when it is likely for us to receive our money, even if it is after Christmas

They have not forgotten about us, have you not read this thread? http://forums.moneysavingexpert.com/showthread.html?t=1212395&page=5

Published: October 21 2008 23:20 | Last updated: October 21 2008 23:20

UK Treasury officials are putting the final touches to a plan to lend about £3bn to Iceland so it can repay UK depositors in Icesave, the online banking unit of Landsbanki, the collapsed Icelandic bank.
The loan would provide an important first step towards unfreezing the deposits of approximately 300,000 UK customers who have been unable to withdraw money after Landsbanki collapsed this month.
A delegation from the UK Treasury and the Bank of England will arrive in Reykjavik, the Icelandic capital, this week to try to “wrap up” the terms of the loan, according to officials in !Iceland.

The precise size of the loan has not yet been decided, but it is expected to be about £3bn, representing about 30 per cent of Iceland’s gross domestic product.

A Treasury spokesperson said: “Following conversations between the chancellor [Alistair Darling] and Icelandic prime minister, officials from the Treasury and Bank of England are going to Iceland to work on finalising an agreement that aims to compensate UK depositors and ensure fair treatment for creditors.”

Björgvin Sigurdsson, Iceland’s commerce minister, said an agreement should be concluded by Wednesday.

senora3724

Alistair Darling made himself look great and scored maximum political and media Brownie points when he announced that we would all be compensated. Nonetheless, it's been over two weeks and I need my money back. What does he think savings are for? Is he so out of touch that he thinks people like me and many others, (who work), save money for fun? No - it's because we live responsibly and can fall back on them in instances like when my boiler breaks and I want hot water and heating back for the winter. Thank God Martin is around because it's always been him I've been expecting to get me my savings back and not the Chancellor of the Exchequer.

romfordboy

I seem to recall that the EU puts a 3 month limit on the amount of time between a bank defaulting and repayment of depositors. What is the point of protesting outside the FSCS 4 weeks after the event?

The Government is not going to refund us until it has some form of guarantee from Iceland that it will cover the bill. By agreeing a loan that is essentially used to repay depositors, the Government has some form of redress to Iceland. It looks like a waiting game.

cwcw

I just hope the "loan" doesn't involve any actual money transfer to Iceland for them to pretend to be paying out the depositors. I hope the loan is purely on paper and the treasury pay out the depositors directly with it, without Iceland laying their filthy stealing hands on it at any point. Otherwise, who knows what might happen when it's "every country for itself".

technoir

Apologies if this has been covered elsewhere, but I don't have time to conduct a thorough search of all the previous postings.

My question is very simple.

Will the money paid back to Icesave investors include the interest owed up to and including the date of repayment, or will it simply be the original capital sum?