Icesave FSCS - petition for interest up to date compensation paid

nilrem_2

I lost quite a lot of interest due to the Icesave fiasco but as far as I am concerned it's over now, water under the bridge, personally I thought myself lucky to get back as much as I did, I could have lost one hell of a lot more!

So no I won't be signing any petition for more cash! :eek:

nilrem_2

harz99 wrote: »

we all made a poor investment choice, but unlike those in the stocks and shares markets, we both got our capital back and had the interest up to when Icesave went belly up.

Whilst I agree that we should not be chasing for more compensation I do not agree that we made a poor investment choice, I saved my money in a savings account with a UK registered bank that was approved by the FSA and came highly recommended by the press, media and financial experts, you cannot compare this sort of savings account with stocks and shares, the two are quite different!

Stocks and shares are speculative and cannot be guaranteed to return all of your original investment, a savings account is not an investment a such and one does normally expect at the very least to get their deposit back.

home_alone

ebyard wrote: »

I appreciate the sentiment, as an ex-Icesaver, but you have a snowball in Haides chance of getting any more money out of FSCS (who in turn got the money from Iceland via a complicated process..).

There is probably no more money in the pot, and with the economy the way it is, be thankful you got anything back at all. If the Tories were in, they were going to say "hard luck". I'm no Labour supporter but Brown and Darling did the right and honourable thing.

I totally agree I am also not a labour supporter but in this case they did the business.

gary

masonic

Well, 452 views vs. 3 signatures seems to suggest public opinion is against the OP on this one.

bryanb

Onawingandaprayer wrote: »

FSCS guidelines say you should be chasing Iceland, a collapsed economy for the first £16k or so

Hmmm 1. It's proving pretty impossible chasing the FSCS for my cash. Not sure if the Iceland govt would be much harder

There is the option not to accept the terms of a claim via FSCS. It's on the FSCS form for those who wish to pursue their own claim against the Icelandic Gov. Presumably you accepted FSCS written terms and signed as such?

Dooooooooooooooonut

suck it.

You gambled and were !!!!ing lucky to be bailed out when there was all the time in the world to look into your legal rights here.

parcival

I am not signing. The Government went beyond the call of duty so we should be grateful that we all got (or will get) our original investment returned.

Don't be greedy!!!

mrkbrrws

I didn't think this was going to be so controversial, although I expected some to disagree and they are, of course, entitled to their opinion.

I am asking for an extension to the current compensation scheme to cover interest up to the date that the compensation is paid.

To look at it another way, if the FSA rules said that you got back your capital plus interest up to when you are compensated, would anyone be on here saying "that's wrong, surely the interest should stop when the bank defaulted"?

nilrem_2

Dooooooooooooooonut wrote: »

suck it.

You gambled and were !!!!ing lucky to be bailed out

Do people still not understand the difference between gambling and a savings account with a UK registered bank run from the UK with FSA approval and FSCS guarantee?

Gambling is like putting your cash on a horse that most likely will lose your money, cash saved with Icesave was a savings account it was not gambling!

I am grateful however that the government stepped in and I would not dream of asking for more! :eek:

Dooooooooooooooonut

Of course it was gambling. It was admittedly low risk as these things go... but it's still gambling.

Not as if there had never been a bank failure before 2007, is it?