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

gelato_cat

Are you losing thousands of pounds of interest? If you think you really have a case then why not channel your energies into telling someone who can do something about it instead of arguing with PaulH et al?

I've lost a couple of hundred which obviously isn't an ideal situation but there was a point a few weeks ago where I thought I'd lost £16k. I'm not arguing the toss though, I've accepted the situation and I'm logging in as soon as I can to transfer my money.

The fact remains that by depositing with Icesave you were never going to be treated in the same way as if you had deposited with, say, Halifax and it had gone bust, and you should have acquainted yourself with this fact before you signed up.

Suze

kenshaz wrote: »

Fact1 if you had up to £ 16000 or more than £50000 you are not part of the FCSC scheme and therefore not subject to their terms and conditions

Fact 2 the member banks of the FSCS are not being levied for ICESAVE


.

noh

kenshaz wrote: »

Fact1 if you had up to £ 16000 or more than £50000 you are not part of the FCSC scheme and therefore not subject to their terms and conditions

Fact 2 the member banks of the FSCS are not being levied for ICESAVE


.

The consumer is not and has never been part of the FSCS scheme. It is the financial institutions that are members.
The FSCS deals with claims against FSA authorised firms on behalf of the consumer.
http://www.fscs.org.uk/consumer/FAQs/

The paying of compensation to those who had less than £16000 or more than £50000 in Icesave is covered by the rules in the FSA Handbook
COMP 15.1 Accelerated compensation for depositors

This is a new addition to the rules added within the last week ( FSA Instrument FSA 2008/62 ) nevertheless it is a fact that it covers those with less than £16K and more than £50k.
Specifically read section COMP 15.1.14 which refers to EEA authorised schemes and government guarantees.


Nigel

bjorn_again

Has anyone here actually opened a new ISA in preparation for re-investing their returned Icesave one?
My wife has approx £8k to come back from an Icesave ISA and would like to put it straight into a new UK ISA account. She is maxed out for this year's contributions and so could not open a new account except with a nil balance. Is this possible and can anyone suggest a quick and easy option (I have an Abbey ISA and between us we are over the "safety" limits with the Santander group, so it would have to be outwith of this group) ?
Appreciate any advice and/or experience.

masonic

bjorn_again wrote: »

Has anyone here actually opened a new ISA in preparation for re-investing their returned Icesave one?
My wife has approx £8k to come back from an Icesave ISA and would like to put it straight into a new UK ISA account. She is maxed out for this year's contributions and so could not open a new account except with a nil balance. Is this possible and can anyone suggest a quick and easy option (I have an Abbey ISA and between us we are over the "safety" limits with the Santander group, so it would have to be outwith of this group) ?
Appreciate any advice and/or experience.

You can open a new ISA for a transfer without subscribing new funds, but typically you would need to submit the transfer details at the same time as your application. By far the easiest option is to transfer into your existing ISA. You do realise you each have a £50k compensation allowance and that some "brands" within the Santander group are operating independently with regards to FSA registration (and therefore compensation).

Optimist

The Financial Services Compensation Scheme (FSCS) is being criticised for opening the door to fraudsters because of the way in which it is handling compensation claims of UK account holders with Icesave.


http://www.bankingtimes.co.uk/05112008-fscs-puts-icesave-customers-at-risk-of-fraud/

boat_girl

still haven't got my email and starting to worry, although hubbie has got his.
does anyone know how to check the spam filter on hotmail, I can't even find it. Thanks
liz

Baldur

boat_girl wrote: »

does anyone know how to check the spam filter on hotmail, I can't even find it.

I don't use hotmail but you may find the following useful http://email.about.com/od/spamfighting/Hotmail_Tips_for_Filtering_Dealing_with_and_Preventing_Spam.htm

noh

boat_girl wrote: »

still haven't got my email and starting to worry, although hubbie has got his.
does anyone know how to check the spam filter on hotmail, I can't even find it. Thanks
liz

Check the Junk folder

Transalper

Has anyone here actually opened a new ISA in preparation for re-investing their returned Icesave one?
My wife has approx £8k to come back from an Icesave ISA and would like to put it straight into a new UK ISA account. She is maxed out for this year's contributions and so could not open a new account except with a nil balance. Is this possible and can anyone suggest a quick and easy option (I have an Abbey ISA and between us we are over the "safety" limits with the Santander group, so it would have to be outwith of this group) ?
Appreciate any advice and/or experience

.



Check this thread, I had a nightmare with trying to pre open one as I'm going out of the uk when the compo comes through.

http://forums.moneysavingexpert.com/showthread.html?p=15598947#post15598947

Zanshin

Just spoke to my local branch of RBS and as soon as I mentioned that I had an ISA with an Icelandic bank she new what the situation was and told me there would be no problem transferring to and ISA with them. Meeting arranged for tomorrow to discuss.

Fairly pleased as I was expecting a long and confusing conversation.