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

Transalper

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.

Zanshin, I hope it go's well and they don't try to just talk about general investment which my bank constantly wants me to do and leaves messages or just rings me without message daily :mad:. Please let us know the outcome of the meeting.

Primrose

For anybody wanting to transfer an Icesave ISA, check with Kent Reliance. They do accept transfers in from other providers and I've always found them very efficient to do business with. Believe their current rate is 5.71% - probably not the highest but in many surveys they come out as one of the most consistent providers.

Patr100

Optimist wrote: »

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/

There's always a possible risk but good practice to prevent "phishing" is for receivers of emails never to open direct links in emails from "banks" but go to the banks site via a pre-saved bookmark/favourite to log in and banks never to include such direct links in emails.

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Meadows

Just spoke to my bank, First Direct about what happens with the Isa funds!
It appears that they have just received details about what is going to happen with the returned Isa funds, I have been told someone will be intouch with me.
At least it appears that the banks will be getting information on ISA account and we hopefully won't have problems opening new account and transfering the money.

climbgirl

I just spoke to Scottish Widows about it, they were really efficient about the process for transferring an ISA. Said they were fully aware of what was happening and told me exactly what I had to do and when (basically, open the account now, wait for the certificate from the FSA and send them the certificate and a cheque with the money).

Was really impressed actually, thought it might be a nightmare trying to explain the situation to someone in a call centre!

~Chameleon~

climbgirl wrote: »

I just spoke to Scottish Widows about it, they were really efficient about the process for transferring an ISA. Said they were fully aware of what was happening and told me exactly what I had to do and when (basically, open the account now, wait for the certificate from the FSA and send them the certificate and a cheque with the money).

Was really impressed actually, thought it might be a nightmare trying to explain the situation to someone in a call centre!

This is excellent news as I'm also putting my ISA in SW, thanks!

kenshaz

innovate wrote: »

I too think you are mixing up a few things with facts - - - but it's really a totally academic debate, since the FSCS have taken it upon themselves (with the help of HM Government) to re-imburse all UK retail Icesavers, whether they had 1p or £1m or whatever in Icesave. The position on interest has been clarified by the FSCS website and enail communication.

I understand your point of view ,but this is a response to Paul Herring ,who stated that the fixed term deposit will receive interest and others will not because it is in the terms and conditions of the FSCS. When in fact I and others are not subject to the conditions ,this bail -out is government led and they are making the rules up as they go along and T&Cs are not valid.

ICELAND should have sorted this,they failed Alistair Darling has ,great ,but it has to be fair.

Transalper

There's always a possible risk but good practice to prevent "phishing" is for receivers of emails never to open direct links in emails from "banks" but go to the banks site via a pre-saved bookmark/favourite to log in and banks never to include such direct links in emails.

I read somewhere in a PC mag it's best NOT to keep bank links in your bookmarks as thats where fraudsters could look and somehow alter the target. Don't ask me how I'm no expert. They say to put it in a file inside another file.

pem2

neil324 wrote: »

Anyone know of a good fixed rate ISA that allows transfers in only from previous years.

Try Moneyfacts they list Kent Reliance BS, Principality BS & Birmingham Midshires as currently accepting transfers in with good rates especially if you commit to fixed term, they also list Newcastle BS which you already have.
http://www.moneyfacts.co.uk/searches/savingssearchresults.aspx

neil324

pem2 wrote: »

Try Moneyfacts they list Kent Reliance BS, Principality BS & Birmingham Midshires as currently accepting transfers in with good rates especially if you commit to fixed term, they also list Newcastle BS which you already have.
http://www.moneyfacts.co.uk/searches/savingssearchresults.aspx[/quote]

They all need you to invest for this tax year also, i can't because ive opened a newcastle fixed isa for this year.