ICE SAVE - 2nd E Mail Received

Greycrow

altocumulus wrote: »

Losing 6 weeks of interest is nothing compared to the potential loss of all of the money.....

That succinctly sums it up.
I was sitting on a potential loss of £20K over the guaranteed limit, until the government stepped in.
So, Alastair,not many people in this universe may love you, but if you're ever down in my local I'll buy you a pint and a bag of crisps. Maybe even increase it to two, when I, eventually, get my second email.

tweet

NonGeographicalMan wrote: »

Of course but the point of the scheme was to protect people from all monetary losses resulting from the depositor failing.

Now it turns out people are suffer ing an unpredictable loss that depends on how efficient the FSCS is or isn't in paying out and the random order in which the FSCS has decided to pay out to different investors over a period of up to 3 or 4 weeks. Surely no one designing a fair compensation scheme would design it this way?

Aside from the fact that this is an unprecedented, untested event, where the FSCS is having to come up with 8bn in a matter of weeks, I think they're doing pretty well.

The scheme does protect people from monetary losses - but that's it. Losses. Not missing out on interest - that's not a lose as one didn't have it in the first place.

It said there's a 3month limit to payouts - we're just over 1/3rd of that and some already have their money back. If people don't like the conditions *which we all agree to by banking with these institutions* then we simply have to put money elsewhere (stocks, Ireland, wherever- and suffer their insurance schemes).
Because someone is in trouble and loses out financially due to not being able to access their Icesave funds for 6 weeks isn't the FSCS's fault; sure it can sting if you're hit with late fines, mortgage missed payments etc but that's the consequence of putting all the needed cash in one place.

Personally I think the seeminly random way payments are being made is as fair as you can get - what's the alternative? Alphabetically? Age? Amount? Date applied? All 8bn in one go?

It's incredible how people can swing from being grateful they're covered *over and above what they were insured for - ie took unnecessary risk which taxpayers are now paying for* to complaining about how some have been paid a week or so before others.

fortyaday

Just incase anybody is interested,I have just received 3 emails confirming my activations of 3 accounts yesterday so obviously their sending them out for each account.Sorry if this info.has already been dealt with previously,can't read all threds,life's too short.Can't spell either.

Pendle_Gazza

NonGeographicalMan wrote: »

Of course but the point of the scheme was to protect people from all monetary losses resulting from the depositor failing.

Now it turns out people are suffering an unpredictable loss that depends on how efficient the FSCS is or isn't in paying out and the random order in which the FSCS has decided to pay out to different investors over a period of up to 3 or 4 weeks. Surely no one designing a fair compensation scheme would design it this way?

Even with this scenario being a first, we should of course all have expected our money to be given back to us all the very same day it went bust shouldn't we? :huh: Get real!

I've not received my money, nor a second email, but I'm not whingeing. It'll come when it comes, and well within the three month guideline. I'll miss out on a not insignificant sum in interest, and clearly wait a bit longer than others, but it's "just a bit of bad luck I'm having". Get over it. I have.

Skieasy

~Chameleon~ wrote: »

So they are sending out emails today too!!! :j :j

That has really lifted my spirits

Congratulations! :T

Come on, lift mine! 2nd email, please so I can join the party, too!

StarRover

Pendle_Gazza wrote: »

I'll miss out on a not insignificant sum in interest, and clearly wait a bit longer than others, but it's "just a bit of bad luck I'm having". Get over it. I have.

Well aren't you a regular little martyr?

Norman-B

StarRover wrote: »

Well aren't you a regular little martyr?

Oh dear:rolleyes: Is that Lemon your sucking a little bitter?

NonGeographicalMan

Norman-B wrote: »

Oh dear:rolleyes: Is that Lemon your sucking a little bitter?

And is that petrol you are deliberately pouring on the fire as an experienced forum member not against the forum rules.:eek:

Norman-B

NonGeographicalMan wrote: »

And is that petrol you are deliberately pouring on the fire as an experienced forum member not against the forum rules.:eek:

Wow, that's as good a laugh as I've had all day I must get my eyes tested as I can only see two types of post on here. One with people happy at getting out of a sticky situation and the other of people moaning about this that and the other.

I'm in the first crowd. Oh happy me

tuggy12

NonGeographicalMan wrote: »

And is that petrol you are deliberately pouring on the fire as an experienced forum member not against the forum rules.:eek:

:rotfl: :rotfl: And is wanting to see the founder of MSE hanged not against the forum rules?:rotfl: :rotfl:

Originally Posted by NonGeographicalMan
I am only an investor in Icesave at all because Martin Lewis regularly tipped it as a sound bet. He should be ashamed of himself and give a public apology but instead of this he will no doubt be coining it all the way to the bank and setting up click thrus to new dodgy deposit takers that he will now try to lure British savers in to the clutches of.
Public hanging is too good for Martin Lewis is what I say.:eek::mad::mad::mad:
Moneysavingexpert phooey - MoneyLosingNincompoop is more like it.:mad::mad::mad:

:rotfl: :rotfl: Give it a rest you sad little man:rotfl: :rotfl: