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

Babycakes

How is the ISA wrapper going to remain?

SarahNeedle1872

Yay! Great news... but as Babycakes said, what about the ISA wrapper?

nilrem_2

david78 wrote: »

What will they do with term accounts (fixed interest ones)? Will we have to wait until they mature or will they just be canceled and the money returned to us without interest.

If they decide to 'mature' all fixed accounts on the day that Icesave went defunct (7th Oct) I would imagine that they will pay interest up until that date.

OTOH if they stick to the term and pay at it's true maturity date (unlikely I believe, it would be too much trouble) I imagine that interest will be paid as normal, it would hardly be fair to tie savers to the term and pay no interest.

The only other option I can see for fixed is for them to transfer to another bank or building society till the original term ends but maybe they would give the saver a choice first?

Tom_Jones

ExBanker wrote: »

What happens if we cancelled our linked account?

I cancelled mine just before the bank was nationalised as i was going to change it to my new bank account..

I would have thought they have details of your linked account and provided you confirm the correct details I would envisage no problem. I have asked Smile if it's possible to reinstate a DD as we cancelled ours to Icesave a few days ago also.

valderee

amistupid wrote: »

Does anyone want to buy a very cheap return rail ticket Grimsby to FSCS Offices on 7 nov 08 and a hardly worn puffin fancy dress costume?

Thank you amistupid for the best laugh I have had since the 7th October - I really needed that:rotfl:

ok - back to the almost empty bottle of celebratory vino:beer:

(any excuse - roll on second week of november)

fudgecat

:j Hurray! Money back before Christmas!:j
:mad: Just a thought - assuming I would not see a penny before Christmas, I went and bought the entire family`s Christmas presents at Poundland ( I really did!)
Still. now I can enclose a modest cheque in with the basket of prezzies.:rolleyes:
And yes, I`ve just discovered how to do the smiley graphics...

rich225

excellent news! but until its in my account im just crossing fingers

chodges84

Fantastic News.

I knew there would be something good this week and kudos to the posters who guessed linked account refunds would be the solution.

At the rate of repayment the FSCS are expecting then most people will lose 1 months interest at most. I really don't think that is a bad outcome. I felt sure we'd have it this side of 2009.

I guess it will be time to shop around for a new ISA as Halifax's isn't the best, but as my current ccount is with them, I guess my ISA will go there too. Any ideas?

Wolfhound

Thanks for the great news.

We don't need to eat that turkey pot noodle on Christmas day now :rotfl:

edwinac_2

fudgecat wrote: »

:j Hurray! Money back before Christmas!:j
:mad: Just a thought - assuming I would not see a penny before Christmas, I went and bought the entire family`s Christmas presents at Poundland ( I really did!)

And what's wrong with Poundland?!

Last year, we got the Christmas Tree, the Fairy Lights, the Pudding, Mince Pies, all the trimmings, from Poundland, and still got change from a fiver.