IMPORTANT! FSCS Icesave payouts to start in November...

nilrem_2

StarRover wrote: »

The repetition and rehashing of previous announcements, as if they're somehow new, is an artform that's been perfected by the New Labour government over the years. Hopefully this weeks e-mail will tell us something we don't already know.

I don't think that is fair TBH, today's announcement tells us what is happening shortly, if they say nothing people complain there is no info and start worrying, if they make a statement others complain that it's not sufficient, they just can't win.

IMHO the FSCS are doing a pretty good job so far, many of us did not expect to get our cash back before Christmas, I think people should give the FSCS a bit of credit for how quick they are actually dealing with the issue.

cwcw

Transalper wrote: »

Another dose of half clues how we are getting our compensation in the last hours today then. I'ts beginning to look like a treasure hunt but the prize is our own hard saved funds! Nothing solid about the ISA. I've got 10 years worth of savings in an ISA and I'm supposed to on my first big trip overseas in 10 days. I should be looking forward to a one off holiday of a lifetime, gave up my job & doing it while I still can, but I don't know if I can now go because I don't know if I'll have the money in time I need to live on while away.
I have aproached several banks including my own and told them there might be a sudden influx of money coming into their funds but they knew nothing about it and could not give me any help how I might sort things easily while away. Looks like my ISA could be stuck for the next few months with 0 interest.

I tell you what...... PM me your banking details and I'll sort it all out for you while you're away.

But seriously, haven't you got someone you can trust to deal with this while you're away? Don't let it ruin your holiday of a lifetime. In the worst case scenario you will lose a few months interest while it's sat in a current account and you're not here to open the new ISA, but a few hundred quid is nothing compared to the trip of your life. Which will you be giving more thought to, many years from now in your dying days?

StarRover

nilrem wrote: »

I don't think that is fair TBH, today's announcement tells us what is happening shortly, if they say nothing people complain there is no info and start worrying, if they make a statement others complain that it's not sufficient, they just can't win.

Well maybe I missed something nilrem, because all I garnered from the announcement was that the e-mail that was expected today would now be sent before the end of the week. Everything else had been previously announced. As other posters have already mentioned, some news on the ISA situation would have been appreciated.

nilrem_2

StarRover wrote: »

As other posters have already mentioned, some news on the ISA situation would have been appreciated.

In the FAQ it does say As other posters have already mentioned, some news on the ISA situation would have been appreciated.

15. Will I lose the tax status on my ISA?
No, the Government has given an assurance that you will not lose your status on your ISA. HM Treasury and HM Revenue and Customs are working on the issue and will make a further announcement in due course.

If they have not completed arrangements I don't suppose there is much more they could say TBH

realaledrinker

SarahNeedle1872 wrote: »

I love the way they keep caling it 'compensation'.... its not compensation, ITS MY BL00DY MONEY!

No - your money was lost (along with £65K between me & the missus for what it's worth) when Icesave defaulted. We are being compensated by the Financial Services Compensation Scheme.

nilrem_2

realaledrinker wrote: »

No - your money was lost when Icesave defaulted. We are being compensated by the Financial Services Compensation Scheme.

But is not some of the £4 billion (of our savings) that the government impounded going towards the cost?

pumpndump

nilrem wrote: »

in actual fact I live entirely on monthly interest from my savings, a large proportion of which are tied up in Icesave, ATM my monthly income is down by about 1/3 of it's normal value.

Stop moaning and get a job!

Hillwalker

Got up early this morning to check my mail but nothing arrived as yet ....
Thought there might have been a mass mail out over night :-(

pizzarelli7348

nothing arrived to me either!

edda

Well I learned something from the new announcement:

Icesave customers are asked to note that no one from FSCS will contact them by phone or email to ask for or check their bank account details.
Any Icesave customers who do not receive their first email from FSCS by close of business on Friday should contact FSCS on 0845 7300 131 (Icesave enquiries only).

After all the unsubstantiated speculation on the whole matter (possibly by people who had no more idea than anyone as to what was really happening), I found this helpful.

(E.g. there have been several postings throughout this and other forums that we would be getting an email directly from the FSCS).

And it includes a definite date after which we can do something positive.