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

Zanshin

Transalper wrote: »

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.

I’ll let you know how it goes. Although they know I’m only interested in transferring my ISA I’m a bit concerned about what else they will want to discuss. They are always on the phone trying to persuade me to go in to see them mainly due to my current account usually having a fairly large balance in it, which they like to tell me should be elsewhere.

Not sure of the reaction I’ll get when I give my usual explanation that I play cards a lot and may need easy access to funds.

pem2

neil324 wrote: »

pem2 wrote: »

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

I think you'll find they do allow transfers in from previous years, certainly with Kent Reliance & Principality (of course they may not allow it for all accounts), because I've just done a transfer to the Principality, direct fixed ISA 39 from a previous year & provider.

Transalper

It looks like another kick in the teeth for Icesavers.:mad:
When we finally get our money back, we will have to put it in an account with a low interest rate. It will be too late to place in a good fixed rate like we can find now. By Tues some banks are reducing rates.:mad:

noh

kenshaz wrote: »

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.

Yes you are covered by the FSA rules governing compensation payouts see my previous post #514

Nigel

nilrem_2

Transalper wrote: »

It looks like another kick in the teeth for Icesavers.:mad:
When we finally get our money back, we will have to put it in an account with a low interest rate. It will be too late to place in a good fixed rate like we can find now. By Tues some banks are reducing rates.:mad:

I quite agree.

zoebel

How long do you reckon these 6% plus fixed rate ISAs will be around for and can we get them set up now before we get our money and our certificates.

neil324

zoebel wrote: »

How long do you reckon these 6% plus fixed rate ISAs will be around for and can we get them set up now before we get our money and our certificates.

Just tried principality online, at the end pf the process says the aplication needs to arrive no later than 5 days.

Optimist

zoebel wrote: »

How long do you reckon these 6% plus fixed rate ISAs will be around for and can we get them set up now before we get our money and our certificates.

Asked Newcastle BS how they are treating this and if it were possible to open an ISA before the Icesave money came through. Response below

"As a majority of our ISA's are limited issue, we recommend you apply once you have confirmation of your funds from IceSave.

The reason for this is because an ISA must be opened with either funds or an ISA transfer if the funds are not available we cannot proceed with the application."

Patr100

Transalper wrote: »

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.

Indeed. Theoretically there are other ways but phishing form direct emails links are still most common and using your bookmarks would still be better than clicking on email links. Ideally you could keep them separate but there was even a recent exploit that potentially could redirect you from a normally innocent link so the word is always be wary. Use your browser tools (eg IEs anti phishing tool or Firefox add ons ) and others to verify sites etc.

Patr100

On the issue of the original FSCA "rulebook" and the banks "normally" financing the scheme.
1. The govt is seemingly bailing the FSCA out and the banking system providing little or nothing, or that pot being kept , or is empty.
2. If the deposited Icesave money were simply frozen and held somewhere surely the loan wouldn't be required? So how could interest ever be payable from Oct 7th to compensation time?

We are of course living in times where normal rules and certainties don't always apply. Good luck to anyone who thinks they are still entitled to interest from 7 Oct to now....:rotfl:

The government is to lend £800m to the Financial Services Compensation Scheme to help depositors with savings in failed Icelandic bank Icesave.
Chancellor Alistair Darling said the government would ensure no individual UK depositor would lose any money as a result of the bank's failure. The loan will go towards covering the cost of compensating those who lost their money.

http://news.bbc.co.uk/1/hi/uk/7712916.stm