ICESAVE have added all interest to accounts...check now!

ChiefGrasscutter

In response to who is getting interest on "my money" post 7th October.
The answer is that "your money" as such does not exist any more - it was lost when IceSave went bust.
All Icesave savers are being fully and 100% recompensed by the Government for this loss. So until HMG actually pays out the £4bn odd to all the savers that was lost when Icesave went under, in effect HMG is getting the interest: Except that they are probably needing to borrow the money to pay out!
The compensation scheme as I understand it is funded by a levy on existing providers of financial products and services so HMG will increase these levy's charged to these providers to get the costs of all this back - and in turn these providers will increase their charges to us the general public........

So until HMG actually pays out then, the numbers on the icesave screens are just that - numbers - they are not backed by actual money.

jd84

carbonmonoxide wrote: »

I wonder if this means any uncleared deposits will now clear?

my deposit from october 1st has cleared :T

Gerontius_2

Hi ppl,
Here's a thought for those who are sad about the interest it seems likely that they will have lost between the date of Landsbanski's default and the restoration of Icesave funds. I have calculated, according to the interest credited to my three year bond as at 10/10/08 (the "new" maturity date), that if I receive my cash back on or before November 14th as indicated, I will have earned interest at approx. 4.05% AER. Since this falls within the rates quoted by bed-rock safe NS&I Income bonds, I will have done no worse in choosing a "risky" investment than if I had chosen a "safe" one! So I reckon I should stop moaning, heave a sigh of relief, profit from what I have learned and become a more savvy investor than I was. I could have done without the adrenaline rush tho'!
Love to all:T

nilrem_2

Gerontius wrote: »

I will have done no worse in choosing a "risky" investment than if I had chosen a "safe" one!

Did you conceive Icesave as 'Risky' when you Signed up with them? I maybe Naive but I never saw them as a risky (until they crashed) savings account nor were their rates particularly higher than other so-called safe havens.

LGG_2

if ppl had thought icesave was risky when they opened accounts a year plus ago then they wouldnt have invested in the first place. what a stupid comment.

oldagetraveller

LGG wrote: »

if ppl had thought icesave was risky when they opened accounts a year plus ago then they wouldnt have invested in the first place. what a stupid comment.

Learn some manners.

"Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps."

LGG_2

There's no such thing as a stupid question

no there is no such thing as a stupid question depending on the situation but there is such thing as a stupid comment which is what i was replying to.

f_@_w_y

LGG wrote: »

no there is such thing as stupid question but there is such thing as stupid comment which is what i was replying to.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Gerontius_2

So sorry to have overestimated the ability of some forum readers to appreciate irony. The use of quotation marks (that is " and " for the uninitiated) was meant as a comment upon people who categorise investments with the benefit of hindsight. Thank you for your supportive comments oldagetraveller, but sometimes one does despairingly wonder if there's the slightest point in posting on this forum...

nilrem_2

Gerontius wrote: »

So sorry to have overestimated the ability of some forum readers to appreciate irony. The use of quotation marks (that is " and " for the uninitiated) was meant as a comment upon people who categorise investments with the benefit of hindsight. Thank you for your supportive comments oldagetraveller, but sometimes one does despairingly wonder if there's the slightest point in posting on this forum...

I apologise Gerontius if my comment annoyed or offended you, I can assure you that it was not intended to, I was just trying to illustrate that I did not think Icesave was 'risky' and 'high interest' as it has often been portrayed in the press.
I did try to make my comment friendly but I guess I don't have a 'velvety' touch with words.