FSCS £50,000 Guarantee

cos69

You will get your interest as per the FFAQs at the FSCS website

8. Will you compensate me for any interest I have earned on my account?
Interest owed to the depositor as at the date the bank is declared "in default" by FSCS will be paid as part of the compensation amount. Notice accounts will be paid as if notice had been served on the day the account was frozen and payment will be made, including interest, at the end of the notice period. Fixed term accounts will be paid at the maturity date with the interest that would have been paid by the bank at maturity date.

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

The compensation amount mentioned above is limited to £50,000 as per the first answers in the FAQ

miserable_ol_so_n_so

If I could add: Though the FSCS guarantee is there, one thing that several of Icesave savers, including me are suffering from is the time it takes FSCS to actually settele the claim. Two problems: 1. Interest is paid only upto the date of default. (This could add up to a considerable loss the longer they take to pay). 2. Until your savings are returned, you are unable to reinvest, which at this moment in time, is quite unfortunate, as many fixed rate investments have seen loss of interest.
So beware anyone. It is good have the compensation package in place, but to my mind, there should be improvements to cover interest upto the time of funds return, and there should be a time limit within which FSCS ought to complete the payment.

oldandgrumpy

KaupthingEdge were covered by the FSCS, but that was irrelevant as all accounts were transferred to ING, complete with ftd interest. BUT.....ING are not covered by the FSCS in total, as they are passported....ie the Dutch pay the first £15000, and the FSCS the rest, up to 50k. As for interest under the passport scheme, who knows?