ICESAVE - money now paid

NonGeographicalMan

Celt08 wrote: »

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

Icesave always had an 11am cut off for payment instructions going through that day so assuming Newcastle Building Society are working the same way for the FSCS you probably didn't give the instructions to them before 11am on Tuesday so it was then 3 working days from Wednesday to Monday for the BACS payment to go through. Having said that a BACS payment initiated on Wednesday really ought to have got there on Friday so I think Newcastle Building Society are just adding on their own delays on top.

CarolAnn_3

Initiated my claim Wednesday evening. Money arrived Sunday as cleared funds. It was dated Monday. I was very impressed.

~Chameleon~

NonGeographicalMan wrote: »

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

Once funds are in the account they can't take them back out again!

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.

Surely that is your responsibility to ensure you remain within your credit limit, nothing to do with the bank

DocProc

Monies now received in total, including for two ISAs, as cleared funds in our linked account, three business days afer claiming on the 12th November.

How fantastically efficient of the FSCS and the Newcastle Building society administrative staff.

:T

Mortgage_&_debt_free

Got mine through today, no problems.

Now where's that application form for the royal bank of nigeria....

innovate

~Chameleon~ wrote: »

Surely that is your responsibility to ensure you remain within your credit limit, nothing to do with the bank

Unfortunately, it is the responsibility of the card holder, with no help whatsoever from the card provider. It would be so easy for the card provider to prevent spending above the credit limit, or at least to pro-actively issue a warning (some banks are offering this on current accounts). But of course it's good for the card provider if people bust their credit limit...........

Baldur

The relatively miniscule balance which I had left in my Icesave savings account, having withdrawn the bulk to clear the mortgage just before the Icesave collapse, was received in my linked account this morning.

I initiated the claim last Thursday - the funds have now been transferred to my Egg fixed rate internet saver.

collingwood21

Put my claim in last wednesday evening and got my money yesterday - and what a relief it was! Just waiting for my ISA certificate now so I can get my savings re-invested.

meunier

Last name 'W' - got my 2nd email on Friday @ 5pm - claim completed within the hour - advised that all monies (over a quarter of a million pounds) will be in my bank account tomorrow (Wednesday) morning. (This is a good thing as I issued a cheque for £50,000 against it today.) In 1920's slang, the FSCS team are 'wizard'. My heart, however, goes out to those still waiting. We all know the pain too, too well. Certainly I myself will never forget - and it brings vividly home the strength of my parents' convictions forged during the depression. It has (at least for me) been an incredible struggle to piece together a portfolio (any portofolio) of reasonable savings at this point. A few days more and it would have been all but nigh impossible on any fixed monthly interest scale. Deals were being shredded like 1929 ticker tape. Still, I have learned. I have learned much since I made my Icesave investment in 2006. These savings are now spread within FSA limit over a mixed and guaranteed portfolio. Those still expectant with considerable sums may well be forced back in the 'over limit' access - I well understand - given the very limited possibilities available. Still, I would urge them to take faith that no UK depositor has yet to lose out. Who would have imagined we might be in this position but one year ago. Let us pray that the next year has, amongst the almighty gloom predicted by a universal majority, at least a few modicums of joy.

Til next time my friends, rest easy. Our paths have been smoothed in mutual comfort; through the vital personality and courage of our number. Thank you. You have provided a vital outlet during times of keen pain.

arealhighlander

Pfft, last name S and no signt of any emails!