Logged into Icesave account to withdraw savings & shows wrong balance?

healthvisitor

Hi, got my second email yesterday and logged in today to withdraw money. However, found that my balance was missing £100 which I transferred in July '08 but had the £100 I transferred September '08. Where did the earlier £100 go? What should I do? I am so upset with the situation. I have my bank statements showing the transfer went out of my account to Icesave in July. But should I close the account knowing that this £100 is missing. Who should I contact? I realise that to some people this may seem like a small amount but not to me at present!

Thanks for any advice or insight that can be offered.

Regards
Kate:o

oldagetraveller

I'd contact the FSCS Icesave enquiries in the first instance. 0845 605 6050.
Yes, £100 is still £100 for anyone. Good luck.
Just copied this from their FAQs.
29. What happens if the amount shown in my account is lower than what I expected it to be?
If you do not agree with the amount FSCS has calculated please do not proceed with the online process, as completing the online process means you are accepting the compensation offered and FSCS's terms and conditions. If you disagree with the amount of compensation offered, you can write to us explaining why and providing evidence in support of your position. We will then review your case.

Baldur

See http://www.fscs.org.uk/faq/icesave_faqs/

29. What happens if the amount shown in my account is lower than what I expected it to be?
If you do not agree with the amount FSCS has calculated please do not proceed with the online process, as completing the online process means you are accepting the compensation offered and FSCS's terms and conditions. If you disagree with the amount of compensation offered, you can write to us explaining why and providing evidence in support of your position. We will then review your case.

miserable_ol_so_n_so

healthvisitor wrote: »

Hi, got my second email yesterday and logged in today to withdraw money. However, found that my balance was missing £100 which I transferred in July '08 but had the £100 I transferred September '08. Where did the earlier £100 go? What should I do? I am so upset with the situation. I have my bank statements showing the transfer went out of my account to Icesave in July. But should I close the account knowing that this £100 is missing. Who should I contact? I realise that to some people this may seem like a small amount but not to me at present!

Thanks for any advice or insight that can be offered.

Regards
Kate:o

If I were u, I would withdraw the money, and register a protest and a claim for the missing transaction with FSCS by registered letter immediately, outlining your problem. I would remove my funds because this is going to be a major task for FSCS, who will be at it for months. You dont want to be hanging about for everyone else to be paid before they deal with your query. Make sure you have copies of all your Icesave statements and linked acount statements. Send copies of these to FSCS. If you dont get an answer or in the end no satisfaction, you should be able to sue them in the county court (small claims court). You can do this on-line, but I am sure you will eventually receive your missing £100. It will take time as you can imagine there are 200,000 odd Icesavers, with their lifesavings tied up, waiting. If I were in your shoes, I would thank my lucky stars that I have been invited remove my money, less £100, and I would pursue the missing £100 after removing my money. Now I appreciate that in withdrawing funds, you will be signing away your rights to this that and the other including right to breathe fresh air etc etc etc....but in the end, these rights you signed away will I am sure be overturned by our independent judiciary. That is my take on this. Good luck.

~Chameleon~

miserable_ol_so_n_so wrote: »

If I were u, I would withdraw the money, and register a protest and a claim for the missing transaction with FSCS by registered letter immediately, outlining your problem.

I would proceed with caution in taking this advice as you have to sign disclaimers and relinquish all rights to make any further claims once you have initiated your payment. You would be better to contact FSCS before taking any further action.

Oblivion

~Chameleon~ wrote: »

I would proceed with caution in taking this advice as you have to sign disclaimers and relinquish all rights to make any further claims once you have initiated your payment. You would be better to contact FSCS before taking any further action.

Agree totally. By far the wiser course of action.

Dave.

miserable_ol_so_n_so

Of course, what healthvisitor must decide is how long will it take the FSCS to investigate and eventually pay. As a best guestimate, they say 6 weeks before even looking at paper based claim. In that time, how much interest are you losing? If it is substantial, then even though you gain your £100, you lose more! I did say in my previous post that you will be signing away many many rights, but if there is fraud involved, or human rights etc etc.....no one can deny your right to receiving your lost funds.

Despite what FSCS says not being able to make any further claims, you dont need their permission to start a small claim. An independent judge will decide whether the missing funds shall be returned or not. That is if it ever gets to that stage. In my opinion, once you present your statements to the FSCS showing missing £100, they will pay up. But as mentioned, it will take a long long time, and all that while, you are losing interest. On savings of 30,000, that would be £150 per month.

ScarletBea

I'm sorry for your problem, but how come you only noticed it now?
Don't you keep a regular check whenever you transfer money into an account? Does this mean you hadn't logged on icesave since July??

I suppose this is another warning for people with net-only accounts...

healthvisitor

I had checked the account online and the full amount was showing before I could no longer log-in. When I logged in after the second email the £100 transfer had disappeared. Thank you all for your advice. Contacted the FSCS and told that completing the online process means I am accepting the compensation offered and FSCS's terms and conditions and therefore can't make any further claims.

I have forwarded all written evidence to the FSCS to investigate and realise it will take at least 6 weeks. In principle I feel that I shouldn't accept that I'm £100 down because of someone else's mistake. I don't know how the money disappeared from my account!!!

Again, thanks everyone. Obviously I'm annoyed that the process of getting my money back from Icesave hasn't gone smoothly but am glad to see that others are having no serious issues. I also felt I should post this to make others aware just in case it happens to anyone else.

Regards
Kate

agentyumi

Healthvisitor, my father experienced that too. Almost £150 was gone in his account; he didn’t know that was happened until my mother asked him to withdraw for our monthly mortgage. Good thing, he got back the missing amount after almost 2 months of waiting. Sometimes their service is annoying but there are really circumstances like that, that’s also bad thing when you avail online banking. I hope you could still get your money back, £100 is still £100 and no one can give you that amount in the street.