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

altocumulus

Plasticman wrote: »

And the terms of the FSCS DO apply as they compensate us for anything over and above the limits of the Icelandic scheme, up to £50K. In this instance the government have agreed to fund the Icelandic part (as Iceland can't afford to) and anything above £50K. They may then try to reclaim the money from the 'frozen' assets.

At the moment, the UK taxpayer is picking up the bill - for which I am very grateful.

I am very sure we are all truly grateful to ourselves... :rotfl:

Plasticman

altocumulus wrote: »

I am very sure we are all truly grateful to ourselves... :rotfl:

I wasn't particularly thinking about the 300,000 of us, more about the other few million tax payers who are chipping in

zoebel

masonic wrote: »

My guess is that you'd send a new transfer form along with your certificate and possibly a personal cheque, but you'll probably need to get advice from Natwest on exactly how to go about it when the time comes.

Thanks for that. Just went to Nat West today with new transfer form in order to get the 2% bonus by applying before the 9th and I was turned away, being told the transfer will be rejected again :mad:. Has anyone else been told that they will not qualify for the 2% bonus also?

ukclarkkent

luckily i was transferring 2 isas(1 icesave and 1 barclays) into my natwest isa. the barclays one is in but the transfer failed from icesave. this means my acct is open and now am just waiting for my 2nd email from icesave to get my mitts on my munny!

AB31

zoebel wrote: »

Thanks for that. Just went to Nat West today with new transfer form in order to get the 2% bonus by applying before the 9th and I was turned away, being told the transfer will be rejected again :mad:. Has anyone else been told that they will not qualify for the 2% bonus also?

I haven't tried NatWest but I think you'll probably find that most (if not all) ISA providers have now wised up to the problems about Icesave and won't touch applications for transfers until they know that the FCSC have actually issued tax certificates. That's been my experience with two companies I've tried over the past few weeks.

zoebel

AB31 wrote: »

I haven't tried NatWest but I think you'll probably find that most (if not all) ISA providers have now wised up to the problems about Icesave and won't touch applications for transfers until they know that the FCSC have actually issued tax certificates. That's been my experience with two companies I've tried over the past few weeks.

Thanks. Maybe the FSCS should have issued guidance procedures to ISA providers on how to universally handle what is a unique and unprecedented situation.

kenshaz

Paul_Herring wrote: »

Ah - inconvenient truth, so you move the discussion elsewhere. We'll leave the fact that you ignored the salient parts of the FSCS website regarding interest and move on to ...



Of course the rules apply. All this correcting is getting tiresome.

They were part of the FSCS scheme (Back in July '06). No-one would have even contemplated putting money in them if they weren't.

The pitfall however was they were only part of the 'passport' or 'top-up' scheme, and what wasn't made clear at the time was that the passport scheme meant that the foreign bank was wholly liable for the first part of any compensation and the FSCS for any remainder over and above what the foreign scheme promised. Notably, what wasn't pointed out is that if the foreign scheme couldn't pay out, the FSCS scheme wasn't obligated to fill that hole as well. Leaving to the rather silly situation where someone with (say) £16K wouldn't get a penny, and those with £17K would.

What 'pot'? Do you seriously think that somewhere, sitting in some bank account, there is the money to fund this refund? And that it's earning interest at 6.2% or whatever? That if every customer of Icesave were to get their money into their linked accounts, and that they were to all simultaneously withdraw cold, hard cash from those accounts, that it wouldn't have an impact on the financial system?

I refer you to my earlier post where the tax payer is picking up <£16K and >£50K. The remainder should be coming from the FSCS.

Some of the tax payer's bit is probably coming from the seized assets (ohh - property's looking a bit grim at the moment - how long do you think it's going to take to sell that lot?) or from the loan the UK is giving Iceland, but there is no 'pot.'

You're clearly trying to troll this subject, and sadly I'm biting. I think this will be my last response to you on this thread.

If you had less than £16000 in a fixed rate you are not part of the FSCS scheme and therefore like every-one else should not get interest.Also if you had more than £50000. I guess like you they make the rules up as they go along .
Why do you always get personal ,when you lose an argument ,the same on the mortgage sector.

Just look at my posts and my thanks ,hardly ,just a person with an opinion that differs from yours ,is that wrong?

Katykay

kenshaz wrote: »

Just look at my posts and my thanks ,hardly ,just a person with an opinion that differs from yours ,is that wrong?

Nothing wrong with people having differing opinions. However, your posts appear to be stating "facts" rather than offering opinions and, as both Paul_Herring and Plasticman have pointed out, your "facts" are wrong.

Having a large number of posts (and thanks) is no guarantee that you know what you are talking about.

Oblivion

Katykay wrote: »

Nothing wrong with people having differing opinions. However, your posts appear to be stating "facts" rather than offering opinions and, as both Paul_Herring and Plasticman have pointed out, your "facts" are wrong.

Having a large number of posts (and thanks) is no guarantee that you know what you are talking about.

Well observed.


Dave.

Primrose

I've just logged onto the Icesave site and all I can see is "Home" and the statement about customers being e-mailed regarding compensation.
The Log In facility seems to have completely disappeared. Is anybody else having this problem? I need to refresh my memory on my linked account number as I've always paid in, and never withdrawn.

Edited later: Whoops, Have just re-read this statement and seen the following comment in the last sentence "The Icesave website will be unavailable this week whilst it is developed to make compensation payments."

So no good anybody trying to access the site to change bank account details, print off statements showing interest added, etc.