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

PJD

Of course its not ideal, - but I "don't mind" (?!) having to wait for my money... but what I would like to know is - am I definitely going to get my money back at some point?

Like most people, I just cannot afford to lose this much of my savings.

nilrem_2

PJD wrote: »

Of course its not ideal, - but I "don't mind" (?!) having to wait for my money... but what I would like to know is - am I definitely going to get my money back at some point?

Like most people, I just cannot afford to lose this much of my savings.

From the FSCS website.

the Chancellor of the Exchequer announced on the same day that he had put in place arrangements to ensure that no retail depositor would lose any money as a result of the closure of Icesave.

bunny62

Hello everybody.
Just received back my KE savings yesterday, after a long and very stressing 2 weeks waiting. I feel relieved, all my savings were split between the two icelandic banks so at least now I have some of my money back to count on.
And now on to Icesave then...
Does anybody know whether I should contact the FCSC with my Icesave account details/transaction details or just wait for them to contact me?
Thank you

lu

Reaper

bunny62 wrote: »

Does anybody know whether I should contact the FCSC with my Icesave account details/transaction details or just wait for them to contact me?

More chance going through Icesave than the FSCS if you have a missing transaction.
If you don't have a missing transaction then you'll just have to wait for now.

Celt08

MSE_Martin wrote: »

I was asked on another thread what MSE would be doing to help in the campaign to get Icesavers their money back. We've been working hard on it in the background, but I can appreciate the visibility that's needed.

So I thought I would give you my mullings on the situation so far and what needs to be prepared.

The situation so far...

We have been in almost daily contact with the FSCS, the Treasury and the FSA trying to find out what's happening. Some of this has been in regard to the Kaupthing Chaps payments, an issue that looks to be close to conclusion, the rest about FSCS compensation.

As you will know last Friday the FSCS put a statement out saying details on the compensation scheme should come this week.

There really isn't much we can do in the meantime as when we ask anything we're told "it would be inappropriate for us to say anything" for most questions.

What if nothing is resolved.

As you will be aware the mainstream media has gone quiet on Icesave for the moment. And I'll be honest, when I've wanted to talk about the issue at some outlets i've been told its 'not itneresting' as things have moved on.

Yet of course it is a crucial concern, and the aim is to pick the right timing to get it back on the agenda, to help push the political will to get payouts out quickly.

Looking back to the Monday when Icesave first stopped withdrawals. We put a strong release out that day saying "the govt has to back up its promise that all savings were safe" with some deliberately choice language.

This got a good deal of coverage, and along with many others issues, one hopes it helped push the politicians into acting to reinforce the protection payouts on the Wednesday.

We have already been told of an 'accelerated' payout system, which helps, as even if its sophistry it gives something to go on.

The important thing is to keep the pressure up to ensure that Icesave money is paid as quickly as possible rather than sitting on the beurocractic backburner.

To get the story in the public eye again we need what is called a "peg" some-event that resonates and can get this story on the news pages and in vogue again.

For me it seems there are two obvious opportunities

1. When the announcement of payouts come out
2. At the 1 month anniversary ie "One month on and Icesavers still in the cold" type thing.

It's to be hoped that such a push won't be needed and we'll be given a legitimate expectation of payout times soon.

If not then the site and I will be out there using our PR resources to try and push to get the story heard and the messages across.

One thing I would say is, when you do these things, you only get one or two shots at it, screaming every day about something negates its power and any influence you have. So anything done should be as co-ordinated as possible.

Martin

Of course, as always, the site will be here for discussion, and to try and ensure everyone gets what they're entitled too as quickly as possible.

Thanks Martin, seems like a good plan. Let's hope we hear something concrete, from FSCS this week, about the way the deposits are to be claimed/paid-out.

Celt08

shindigger wrote: »

Great. So, if theres nothing concrete soon:

November 7th.
10.30 am.
Outside the FSCS office.

I will be there.
A 500 strong queue should get on the news.

Whereabouts is the head office? :rolleyes:

zzyorkshirepuddingzz

MSE_Martin wrote: »

I was asked on another thread what MSE would be doing to help in the campaign to get Icesavers their money back.

The first thing to say is we've been working hard on it in the background, but I can appreciate the visibility people want. Obviously for hardcore info the most important place to look is the Safe Savings guide, which has all the "how tos"

So here are my mullings on the situation so far & where we go from here.

The situation so far...

We have been in almost daily contact with the FSCS, the Treasury and the FSA trying to find out what's happening. Some of this has been in regard to the Kaupthing Chaps payments, an issue that looks to be close to conclusion, the rest about FSCS compensation for Icesavers.

As you will know last Friday the FSCS put a statement out saying details on the compensation scheme should come this week.

There really isn't much we can do in the meantime as when we ask anything we're told "it would be inappropriate for us to say anything" for most questions.

What if nothing is resolved.

The mainstream media has gone quiet on Icesave for the moment. And I'll be honest, when I've wanted to talk about the issue at some outlets i've been told its 'not interesting' as things have moved on.

Yet of course to those with money on hold, it is crucail. The aim now, if nothing is sorted quickly is to pick the right timing to get it back on the agenda, which in turn should to help push the political will to get payouts out quickly.

Looking back to the Monday when Icesave first stopped withdrawals. We put a strong release out that day saying "the govt has to back up its promise that all savings were safe" with some deliberately choice language.

This got a good deal of coverage, and contributed a touch, in pushingthe politicians into acting to reinforce the protection payouts on the Wednesday.

We have already been told of an 'accelerated' payout system, which helps, as even if its sophistry it gives something to go on.

The important thing is to keep the pressure up to ensure that Icesave money is paid as quickly as possible rather than sitting on the beurocractic backburner.

To get the story in the public eye again we need what is called a "peg" some-event that resonates and can get this story on the news pages and in vogue again.

For me it seems there are two obvious opportunities

1. When the announcement of payouts come out
2. At the 1 month anniversary ie "One month on and Icesavers still in the cold" type thing.

It's to be hoped that such a push won't be needed and we'll be given a legitimate expectation of payout times soon.

If not then the site and I will be out there using our PR resources to try and push to get the story heard and the messages across. And therefore those interested in helping it'd be great if you stayed in touch with this thread.

One thing I would say is, when you do these things, you only get one or two shots at it, screaming every day about something negates its power and any influence you have. So anything done should be as co-ordinated as possible.

Martin

Of course, as always, the site will be here for discussion, and to try and ensure everyone gets what they're entitled too as quickly as possible, and all factual updates rather than lobbying updates with be in the safe saving guide.

Thanks Martin - I never doubted you were there, just thought you may be away on your hols!! Glad you're still with us and fighting our corner.

MSE_Martin

Just a quick note (spoke to my PR chaps). If there were to be an Icesave action day - all the photostuff and releases should be sorted on the 6 Nov - so any pics etc - so they can go in the papers on 7 Nov. Any interviews could be done on the 7th.

Though this was useful in case anyone was pencilling timings in diaries

TypeR

Maybe I'm low on morale or something, but I've found the IceSave issues moving along at a pace which I consider quite reasonable. I'm certainly not getting in a state over it.

Statements have been released in a timely mannor and it looks like the claims process will indeed start this week.

I guess the one point to consider here, is whether or not I fill in a form or they get my data from Landsbanki - at what point, when they are in possession of the facts of my money will I actually get paid it?

Lets not forget the Government seizing the assets of UK Landsbanki was quite a controversial move under the circumstances, which did cause a bit of political unrest between the two nations - this I think can only work in our benefit to aid the process along asap.

shindigger

Celt08 wrote: »

Whereabouts is the head office? :rolleyes:

http://www.fscs.org.uk/contacts/

It really was that difficult. Took me at least 15 seconds.