ICESAVE - money now paid

h5djr

I have today received my transfer from FSCS of the money I had in my IceSave account.

muddyfox470

was this really worth starting a new thread for?

but congratulations for you. i must admit that how the FSCS has handled this has been much better than expected, swift simple and efficient. Sure there have been a few niggles, but i am sure the majority of people are happier using the existing Icesave structure to fast-track payments.

I've yet to receive mine, but I know I will get it eventually

NonGeographicalMan

h5djr wrote: »

I have today received my transfer from FSCS of the money I had in my IceSave account.

Well that will be a first if the 3 day BACS transfer system has deposited money in somebody's account on a Sunday instead of only from Monday to Friday (and not on those days if any of them are a Bank Holiday).

Unless of course the amount was £10,000 or less and Newcastle Building Society has after all got their bankers (Barclays) to send those payments by the Fastpay system for amount of £10,000 or less. As I understand it Fastpay payments under BACS between banks who have fully implemented Fastpay can be made 7 days a week and in real time at any time.

dwileflunker

NonGeographicalMan wrote: »

Well that will be a first if the 3 day BACS transfer system has deposited money in somebody's account on a Sunday instead of only from Monday to Friday (and not on those days if any of them are a Bank Holiday).

Unless of course the amount was £10,000 or less and Newcastle Building Society has after all got their bankers (Barclays) to send those payments by the Fastpay system for amount of £10,000 or less. As I understand it Fastpay payments under BACS between banks who have fully implemented Fastpay can be made 7 days a week and in real time at any time.

Well that might have been a first but then mine must be a second because I've just checked my Smile account and the whole of my Icesave money (well in excess of £10,000) has been returned. So someone is working on a Sunday and if the FSCS can do it why can't others?

NonGeographicalMan

dwileflunker wrote: »

Well that might have been a first but then mine must be a second because I've just checked my Smile account and the whole of my Icesave money (well in excess of £10,000) has been returned. So someone is working on a Sunday and if the FSCS can do it why can't others?

Are you sure the inpayment date is not Friday (14th November). You might also be looking at an early indication of an uncleared payment that will actually not be available for withdrawal from your account until close of business tomorrow. Most online bank accounts unfortunately do not show when funds in an account are uncleared.

Just checked my account and no sign of the money from the repayment process fthat was kicked off on my Iceave account on Friday morning.

~Chameleon~

It's not that unusual for transactions to show up online on a Sunday. Lloyds regularly process credits and debits from my account on a Sunday although the due date isn't until Monday. Just checked now and I can see that several have already been processed for tomorrow.

dwileflunker

NonGeographicalMan wrote: »

Are you sure the inpayment date is not Friday (14th November). You might also be looking at an early indication of an uncleared payment that will actually not be available for withdrawal from your account until close of business tomorrow. Most online bank accounts unfortunately do not show when funds in an account are uncleared.

Just checked my account and no sign of the money from the repayment process fthat was kicked off on my Iceave account on Friday morning.

No it's definitely dated 16/11/2008 and I've already moved it out of my smile current account so it must have cleared otherwise it wouldn't have let me do it. Having said all that I got my second email last Tuesday so it is 5 days even if 2 are weekends.

lpgm

Yep, my compensation went into my Lloyds account today. Cleared, but dated tomorrow.

realaledrinker

Your smile transactions will be redated Monday, dwileflunker.

NonGeographicalMan

lpgm wrote: »

Yep, my compensation went into my Lloyds account today. Cleared, but dated tomorrow.

You might find the money is transferred back again later by their computer on the basis these were not cleared funds.

Shouldn't happen but it does just like Egg let me run over my credit limit with them on my Mastercard recently and then tried to levy an over limit fee. They seemed to have no answer as to why the sizeable transaction that took me over the limit was not declined as it required verification and nor as to why they would not increase my credit limit even though the account had been very actively used and always paid in full during my 18 months with them. Only grudgingly did they agree to refund their £16 fee when I threatened to move all my busines to my Shell Citi Mastercard who also pay 1% cashback on all ordinary transactions, albeit in the form of a discount against future purchases of Shell petrol rather than as actual money back as Egg do.

Celt08

ive received my claim this morn. i initiated the claim on tuesday last week.