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

LGG_2

nilrem wrote: »

The cliches are true but neither applied to Icesave

1) nothing about the account led people to believe it was too good to be true it was not 'that' special or outstanding as an account

2) It did not offer a return much higher than was available elsewhere indeed better rates were to be found from UK banks/BS.

exactly. its all so easy to !!!!! and moan at ppl for joining icesave when you dont know the facts

confused1

From the FSCS website.[/quote]
Somehow, I have very little trust in him and his cohorts. He had been known to go back on his words before.

Scooby64

nilrem wrote: »

Lol TBH I would rather trust the person holding the spanner but I think you are a bit naughty calling him a 'grease monkey', many of the people doing the actual work have a better understanding of things than the 'bods' at the top!

I'd agree - and it isn't an insult when you use it against yourself;)

Scooby64

meanmachine wrote: »

For once I agree with you.

But as I say, I hope Scooby really *does* have a clue in this regard.

Emaills now out - claims start getting processed on Mondays with the first money back into accounts by Friday

Paul_Varjak

I just got an e-mail from FSCS about my ICESAVE account. Seems the claims process could extend into December.

Scooby64

Paul_Varjak wrote: »

I just got an e-mail from FSCS about my ICESAVE account. Seems the claims process could extend into December.

It shouldn't unless you are going to claim by paper - worth considering if you have a fixed term deposit account which matures soon

murphydavid

Scooby64 wrote: »

Emaills now out - claims start getting processed on Mondays with the first money back into accounts by Friday

Yes but with over a months interest lost on non fixed rate accounts and on fixed rate accounts if you want your money now.
On £35000 that's a hit of about £145.00. So "G.Brown not a penny lost"??
Anyway a question - Is it best to leave your fixed rate account till it Matures?
Pros. - You get all your interest - The Interest rate you get is what you agreed and is better than anything you can re-invest in.
Cons - Don't know who will be holding my fixed account money - thus is it safe to leave it with them?

P.S. I read it as Friday week

oldagetraveller

murphydavid wrote: »

Cons - Don't know who will be holding my fixed account money - thus is it safe to leave it with them?

Maybe Newcastle B S? I'd have no problem with that. A bit of a bonus for the work they and their staff have put in to help sort this mess out.
Wherever it is I have 100% confidence of getting back my term deposit when it matures.

hra_2

murphydavid wrote: »

Yes but with over a months interest lost on non fixed rate accounts and on fixed rate accounts if you want your money now.
On £35000 that's a hit of about £145.00. So "G.Brown not a penny lost"??

The FSCS told me today that customers will be able to write in and claim for additional losses from the FSCS once their compensation has gone through. This all relates to the disclaimer mentioned in the FSCS email, which says that customers will be asked to transfer their rights of legal redress to the FSCS. According to my phone call this means all rights, not just those relating to the compensation payout itself; hence to claim for loss of interest or other losses since 7th Oct, customers will do so via the FSCS.

I don't know whether this means literally all customers can claim or whether it will depend on the circumstances e.g. customers who feel they have been specifically misled or have had last-minute transfers wrongfully rejected.

It would be useful if other people can confirm the above!

murphydavid

In my email it says "you will be asked to confirm that you accept the payment in satisfaction of your claim for compensation against the FSCS" which I take to mean that you will be offered your money less the interest accrued since 7/10/08 and if you say yes then ipso facto you say you are satisfied hence no further claim, or you say no and have to go through a lengthy process of claim and counter claim risking not seeing any of your money for quite a while. I will say yes to get my money, so I loose my interest?
Possession is 9/10th of the law so they say