FSCS Compensation Calculations

soulsaver

Mikeyorks wrote: »

..... albeit not quite as serious as the difficulties they are attempting to resolve?

And banking the cheque and then picking up the issue would have made more sense.

Their terms are that if you bank the cheque it is in full and final settlement, so that wouldn't be a 'more sense' option.
I would have queried it keeping the cheque in my posession and asked FSCS permission to cash the cheque and persue the grieveance.

tradetime

As I recall, I got what I expected to, what I didn't get however was any form of tax statement for the tax they deducted, not sure what my accountatn will make of that at the end of the year, anybody get any form of Tax reciept?

magpiejay

I think they are actually sending out cheques with interest ahead of the actual maturity dates.

Mine weren't due until the end of the summer and both were sent to me a week or so ago with all interest added, so even though interest rates are now puny, i'm actually better off as i can re-invest now rather than wait.

PurpleBox

gbjbasdw wrote: »

I finally got my cheque from the FSCS on Saturday but they don't seem to be very good at using a calculator !

I invested £10,000 fiexed at 6.7% for 1 year with Icesave but got a cheque for £10,620.03 - £49.97 less than I was expecting.

My father was also paid out about £50 short - coincidence ???

I'd be interested to hear from anyone else who thinks they have been shortchanged by the FSCS.

Regards

Steve

See reply number #11 - this could account for the 0.03 if your maturity date was in early January. But I would guess that they have only paid 6.2% interest.

PurpleBox.

PurpleBox

magpiejay wrote: »

I think they are actually sending out cheques with interest ahead of the actual maturity dates.

Mine weren't due until the end of the summer and both were sent to me a week or so ago with all interest added, so even though interest rates are now puny, i'm actually better off as i can re-invest now rather than wait.

Can anybody confirm this?

PurpleBox.

frames1_uk

magpiejay wrote: »

I think they are actually sending out cheques with interest ahead of the actual maturity dates.

Mine weren't due until the end of the summer and both were sent to me a week or so ago with all interest added, so even though interest rates are now puny, i'm actually better off as i can re-invest now rather than wait.

has anyone else received their fixed rate investments back, before the maturity date?

Mine matures on 23rd March, but I've just had the standard FSCS letters.

frames1_uk

I'm really surprised that I can't seem to find any recent threads on the compensation still awaited or received. Am I missing something?