FSCS/Icesave EMAIL WINNERS?

thistle50

FSCS Managed Payout for Icesave Customers - Invitation Email‏


Dear Customer


Icesave accounts with the London branch of Landsbanki Islands hf


This email has been sent to you because records available to us indicate that you hold an account with Icesave. If you do not hold such an account, please contact us by email at [EMAIL="enquiries@fscs.org.uk"]enquiries@fscs.org.uk[/EMAIL].


This email invites you to log on to your Icesave account to be paid compensation in respect of your deposits with Icesave under the electronic payment process managed by the Financial Services Compensation Scheme (FSCS). We previously wrote to you about how the process would work on 4 November 2008.


For the FSCS to pay you compensation, you will need to take the following steps:

1. Log on to your account as usual through the Icesave website which is now operational. You will need to confirm your User ID, unique password and memorable information, in the normal way. If you need to reset your password, you can do so at the log in screen.
2. You will be asked to verify the account balance of your Icesave account(s) and the details of your selected nominated account to which the payment is to be made. By completing the process you will instruct a payment of the Icesave account balance shown to your selected nominated account by an electronic transfer. The money should then arrive in your nominated account within approximately five working days.
3. If you hold an Icesave instant access account or ISA account, you will be paid compensation after you confirm your agreement to the terms for payment, including the transfer to the FSCS of all your rights in respect of your Icesave deposits against Landsbanki Islands hf, the Icelandic Depositors’ and Investors’ Guarantee Fund (DIGF) and any other relevant party. This transfer will not affect your deposit in any way and is a legal requirement for the FSCS to be able to recover money from Landsbanki Islands hf, the DIGF or any other relevant party.
4. For ISA holders, the same process will apply as for instant access account holders. The money you held in your ISA will not lose its tax-free status if you follow this process. An ISA certificate will follow by post to allow you to reinvest that sum in an ISA with another provider by 5 April 2009. You should receive your ISA certificate within 2 weeks of claiming compensation using the electronic process and you will have to give this certificate to your new ISA provider when you open your ISA with them.
5. If you hold an Icesave fixed rate savings account, you will be offered the option of payment of your deposit through the electronic payment process. Alternatively, you will be able to opt to receive the principal amount of your deposit, together with accrued interest up to the maturity date, at the end of the fixed term. If you choose this latter option, then the electronic process option is not available to you. However, you should still log on to the website and tick the appropriate box to confirm that this is your wish. At that time, we will be notified that you wish to wait until the end of the fixed term and we will then send you an application form to complete and return to the FSCS. This process will be slower, although we aim to complete this process so far as possible within 6 weeks of receipt of a completed application form, with payment following the maturity date of the account. You should also be aware that if you hold a fixed rate savings account that pays interest on a monthly, quarterly, or annual basis, and you decide to hold that account until maturity, you will not be paid any interest prior to maturity.
6. Irrespective of what type of Icesave account you hold, if you choose to participate in the electronic payment process for that account, then the payment amount you receive will be the principal sum deposited plus interest up to and including 7 October 2008.

If you have more than one account with Icesave, you will need to repeat the process described above for each account.


If you do not seek payment within one month from the date of this email, you will be contacted separately by the FSCS with details of how to make a claim for your deposits with Icesave. This will be through a paper-based application process once the electronic process is complete. This process will be slower (we aim to complete this process so far as possible within 6 weeks of receipt of a completed application form), but you will receive the same amount no matter which process you use (unless you hold a fixed term deposit and opt to await payment until the end of the term, as explained above).


If you experience any difficulties with the process, please seek assistance by calling Icesave’s Customer Services Helpline on Tel. 0845 605 6050.


Further details are also available on the FSCS website (www.fscs.org.uk).


Yours faithfully

FSCS

meanmachine_2

Thistle gets the first Golden Ticket.

Well done Thistle.

Can I ask what month/year you first joined Icesave?

thanks

Tibbledom

Hoax or scam? They didn't write they emailed us on 4 November. Nothing on FSCS. Email received yesterday at midday (?)

Anybody else thinking that way?

11/10/08 edit: Should be more trusting. Looks like a small number of test second emails were sent out. Apologies Thistle50.

jem16

Tibbledom wrote: »

Hoax or scam? They didn't write they emailed us on 4 November. Nothing on FSCS. Email received yesterday at midday (?)

Anybody else thinking that way?

The fact I find very hard to believe is that not one regular on this site has been invited to withdraw yet.

It was also widely known that payouts would start in the 2nd week of November, i.e. tomorrow.

Why invite people to make the first withdrawal on a Saturday which won't count for BACS?

Call me cynical but too much doesn't ring true.

Temrael

Me too, I'd love to be wrong though but I'm waiting for a regular to confirm they have received this mail before I get my hopes up.

cwcw

I have started a new thread for the 2nd email - http://forums.moneysavingexpert.com/showthread.html?p=15699431#post15699431

I didn't realise people were already receiving it as I thought it was from tomorrow?? Could be a hoax but seems unlikely.

Stormy

Also they used the term "Dear Customer" not "Dear Icesave account holder" as used in the previous email or is it just me being paranoid, I didn't get my first email on time anyway so no doubt I will be the last to get the other!

Still if it is legit, well done to the people who have received it!

Temrael

Stormy wrote: »

Still if it is legit, well done to the people who have received it!

Person so far.

paranoid-taxpayer

jem16 wrote: »

The fact I find very hard to believe is that not one regular on this site has been invited to withdraw yet.

It was also widely known that payouts would start in the 2nd week of November, i.e. tomorrow.

Why invite people to make the first withdrawal on a Saturday which won't count for BACS?

Call me cynical but too much doesn't ring true.

The contents of the email are very well written.....and smack of nothing but the type to expect from the fscs and appers to have been written by the same person that wrote the first one. I think this is genuine. Quite like ly that fscs is working overtime/weekend.

Plasticman

I wouldn't be surprised if the FSCS people sent and email out to a very small number of people this weekend, just to check that the system was working OK before doing a bigger run next week.