ICEsave money - the onward journey

chesky369

Interestingly, on trying to move my ICE money out of my linked account – my current with Lloyds – into two other savings account, I’ve been told it won’t be moved yet and that I can expect to be contacted by their Payment Verification Team.

Now, I’m perfectly happy for this to happen but it does seem a bit daft. After all, the two payments in, totaling £18,000, came from the FSCS – it’s written there large as life. And the amounts are going into accounts I’ve had for several years. So if the people at Lloyds were giving it any kind of thought at all, they would realise what was happening. I mean the FSCS are neither money launderers nor scam artists. Bit daft but I suppose not too dreadful in the overall scheme of things, guess we have to keep bank staff in work in these times.

Baldur

Probably a 'marketing opportunity' to try to promote thir own savings products as much as anything else, knowing LTSB.

meunier

Chesky, I had exactly the same experience with HSBC and have had the account the monies were shown as sitting in for 12 years. I was told they were concerned that 'the FSCS might take the money back'. Go figure!

Comfortably_Numb

My Icesave money went into my LloydsTSB account, and I moved it straight out again without any questions.

Streetperson

I'm just about to move mine from Lloyds (arrived overnight) so we will see what happens

jimbo076

My claim has also turned up this morning in my Lloyds TSB current account but it includes the money from my two Icesave ISA accounts.
I was waiting for a certificate!! Anyone else had this problem..

sympatex

My claim has turned up this morning too (woohoo) i'm with natwest was going to move it into my linked savings account. Probably won't get asked too many questions unless i go into branch. The last time i had some money in there transferring out of premium bonds i went in to pay in £10 and ended up having to sit down with an advisor on what i should do with the money.

The irony is i ignored them (some stock market/blah scheme) which was clever then subsequently put it into Icesave! DOH! least it's all back and only lost 6weeks interest. I think the FCSC have done a good job.

Baldur

jimbo076 wrote: »

My claim has also turned up this morning in my Lloyds TSB current account but it includes the money from my two Icesave ISA accounts.
I was waiting for a certificate!! Anyone else had this problem..

See http://www.fscs.org.uk/files/documents/pdfs/bzlbowohfmkofuz.pdf

32. Will I lose the tax status on my ISA?
The money you held in your ISA will not lose its tax-free status if you follow this process. An ISA certificate will follow by post to allow you to reinvest that sum in an ISA with another provider by 5 April 2009. You should receive your ISA certificate within 2 weeks of claiming compensation using the electronic process and you will have to give this certificate to your new ISA provider when you open your ISA with them. You should ask for an ISA transfer form from your new ISA provider.

slogger

jimbo076 wrote: »

My claim has also turned up this morning in my Lloyds TSB current account but it includes the money from my two Icesave ISA accounts.
I was waiting for a certificate!! Anyone else had this problem..

Lot of worriers on here, go to FSCS website infrmation is on there about certificates etc, they will take a little longer to arrive in post, ive read up on it why havnt you ! ! l received my ice money back in my RBS account today, my second e mail arrived late morning Tuesday and money is in my account Friday ,FAB ! ! takes 3 days so dont fret, be patient.

ScarletBea

My money also arrived today (claimed tuesday evening) in my natwest current account, and I immediately transferred it to the esavings account.
This was the easy access and the ISA money, as I decided to keep the fixed stuff in 'icesave'.
Now I'm waiting for the isa certificate to arrive to move it, but until then the money's definitely not staying in the current account, hehe

maggiechips

Yes my money arrived today - absolutely chuffed - just need dear hubbies to come back now and we'll be cooking on gas, lol