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Icesave - Official Update 21.11.08
mickW_2
Posts: 135 Forumite
Consumer home page
Important Announcements
Almost £1bn in Icesave payments processed (21 November 2008)
FSCS has signed off almost a billion pounds in payments (as at today) to UK Icesave customers since it started the electronic payment process. On top of this, more than £133m is being held to maturity by Icesave customers in fixed term accounts.
When Icesave went into default on 8 October, many Icesave customers feared it would be many months before they got their money back. Six weeks later, FSCS has offered to more than 100,000 Icesave customers the opportunity to claim compensation online through an electronic process.
The FSCS is sending out thousands of the second emails every day that allow Icesave customers to claim their money back. At the point of sending the second email we open up the accounts for processing.
If you have received your second email and have not yet processed your claim, we encourage you to do so as soon as you are ready. This will help to keep the process running smoothly. The process is simple and only takes minutes to complete.
FSCS remains on track to offer compensation to the vast majority of Icesave customers in November.
Icesave: progress update (19 November)
We have now sent all customers their first email outlining the online process for making a claim on FSCS.
Over 75,000 second emails inviting people to log on to make their claim have also been sent. At the point of sending the second email we open up the accounts for processing. If you have not been sent your second email, you can still log on to the Icesave system but if you attempt to initiate the process you will be asked to come back later.
If you have received your second email and have processed your claim, we are glad we could help you.
If you have received your second email and have not yet processed your claim, we encourage you to do so as soon as possible. The process is simple and only takes minutes to complete.
If you have not yet received your second email, there is no need to worry. We are sending out the second emails in batches, including at weekends, to ensure the smooth running of the process, and remain on track to send out the vast majority in November.
For customers who did not receive our first email as part of our initial mailing, we have some new advice.
Please continue to check our website for updates.
About us
FSCS is the UK's compensation fund of last resort for customers of financial services firms authorised by the Financial Services Authority or previous financial regulators. This means that FSCS can pay compensation to consumers if an authorised financial services firm is unable, or likely to be unable, to pay claims against it and so is in "default."
FSCS protects:
How to claim
Can we help with your claim?
Why not try our Can we Help? flowchart to help you find out whether FSCS may be able to help with your claim.
You can also download a copy of our consumer guide, How we can help, which contains a print version of the flowchart and provides more information about our role and how we may be able to help with claims for compensation.
Frequently asked questions
Also in this section:
Important Announcements
Almost £1bn in Icesave payments processed (21 November 2008)
FSCS has signed off almost a billion pounds in payments (as at today) to UK Icesave customers since it started the electronic payment process. On top of this, more than £133m is being held to maturity by Icesave customers in fixed term accounts.
When Icesave went into default on 8 October, many Icesave customers feared it would be many months before they got their money back. Six weeks later, FSCS has offered to more than 100,000 Icesave customers the opportunity to claim compensation online through an electronic process.
The FSCS is sending out thousands of the second emails every day that allow Icesave customers to claim their money back. At the point of sending the second email we open up the accounts for processing.
If you have received your second email and have not yet processed your claim, we encourage you to do so as soon as you are ready. This will help to keep the process running smoothly. The process is simple and only takes minutes to complete.
FSCS remains on track to offer compensation to the vast majority of Icesave customers in November.
Icesave: progress update (19 November)
We have now sent all customers their first email outlining the online process for making a claim on FSCS.
Over 75,000 second emails inviting people to log on to make their claim have also been sent. At the point of sending the second email we open up the accounts for processing. If you have not been sent your second email, you can still log on to the Icesave system but if you attempt to initiate the process you will be asked to come back later.
If you have received your second email and have processed your claim, we are glad we could help you.
If you have received your second email and have not yet processed your claim, we encourage you to do so as soon as possible. The process is simple and only takes minutes to complete.
If you have not yet received your second email, there is no need to worry. We are sending out the second emails in batches, including at weekends, to ensure the smooth running of the process, and remain on track to send out the vast majority in November.
For customers who did not receive our first email as part of our initial mailing, we have some new advice.
Please continue to check our website for updates.
About us
FSCS is the UK's compensation fund of last resort for customers of financial services firms authorised by the Financial Services Authority or previous financial regulators. This means that FSCS can pay compensation to consumers if an authorised financial services firm is unable, or likely to be unable, to pay claims against it and so is in "default."
FSCS protects:
- Deposits
- Life and general insurance firms
- Investment business (on or after 28 August 1988)
- Home finance (e.g. mortgage) advice and arranging (on or after 31 October 2004)
- General insurance policies advice and arranging (on or after 14 January 2005)
How to claim
Can we help with your claim?
Why not try our Can we Help? flowchart to help you find out whether FSCS may be able to help with your claim.
You can also download a copy of our consumer guide, How we can help, which contains a print version of the flowchart and provides more information about our role and how we may be able to help with claims for compensation.
Frequently asked questions
- Deposits (including joint accounts and EEA banks)
- Life and general insurance firms
- Investment business
- General insurance policies advice and arranging
- Endowment claims
Also in this section:
- Latest news
- Key facts about the Scheme
- Default declarations and database
- Contacts
- About us
0
Comments
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FSCS remains on track to offer compensation to the vast majority of Icesave customers in November.
Where the hell is mine!?:rotfl::rotfl::rotfl:
0 -
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and mine!!?0
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FSCS remains on track to offer compensation to the vast majority of Icesave customers in November.
"vast majority" is an interesting term.
vast - large number.
majority - more than half.
In the case of Icesave, there are a vast number of people seeking compensation, and so long as the FSCS serves more than half of the claims, the majority will have been done.
I think the FSCS have chosen their words wisely
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I would think they have already issued about 100,000 2nd emails (was 75,000 on 19th) so will have issued 170,000 by Friday (28th) equals
"offering compensation to the vast majority"
But what about the remaining 60,000 who wont be done in that time ?
"How could I have been so mistaken as to trust the experts" - John F Kennedy 19620 -
I would think they have already issued about 100,000 2nd emails (was 75,000 on 19th) so will have issued 170,000 by Friday (28th) equals
"offering compensation to the vast majority"
But what about the remaining 60,000 who wont be done in that time ?
Some'll get done 29th some 30th... then the rest will follow on:cool: Good job FSCS, even though I ain't got mine... :think:0 -
Aren't we just getting bogged down in semantics. The FSCS have confirmed they are processing claims fairly rapidly and if you work out the rate of issue it looks like everyone will have received the second e-mail within the next two (possibly three) weeks.I would think they have already issued about 100,000 2nd emails (was 75,000 on 19th) so will have issued 170,000 by Friday (28th) equals
"offering compensation to the vast majority"
But what about the remaining 60,000 who wont be done in that time ?
I'm still waiting for mine but am comforted by the rate of issue and the smoothness of receiving the actual payments (that could have been another disaster but appears to have been managed well).
cloud_dogPersonal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Actually they know how many they are doing per day, they should be able to say when the latest they'll complete the 2nd email process...
Dunno whether there would be more or less of the anxiety that some feel. May help with some peoples planning what to do next.0 -
Aren't we just getting bogged down in semantics. The FSCS have confirmed they are processing claims fairly rapidly and if you work out the rate of issue it looks like everyone will have received the second e-mail within the next two (possibly three) weeks.
I'm still waiting for mine but am comforted by the rate of issue and the smoothness of receiving the actual payments (that could have been another disaster but appears to have been managed well).
cloud_dog
They need to bang out another 30000 or so on Monday then, cos otherwise the majority wont get their money in November. Theyll maybe get the 2nd email but not the money transferred.
Theyre not going to meet their much heralded ambitions. No way.0 -
Still awaiting that Elusive 2nd email here!:eek:0
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