Icesave fixed bond near maturity

Paul_Herring

scrummy wrote:

is there a way of finding out what the interest rates were now that the FSCS has taken down the Icesave website?

Google had cached them, but no longer it seems; archive.org doesn't have a copy with FRSB rates on them, but I think I had a copy of the page at home - I'll have a look tomorrow (if I remember!)

D1zzy

Mine matured in Feb and the rate for that was 6.7%

Newly_retired

You will get a cheque from FSCS when the bond matures.
I have had several cheques - no problems, and two more to come in due course. They told me they won't give you a tax certificate.
As far as rates are concerned, there were several, according to when you took the bond out and the duration. I can only give you information from old Icesave statements I printed off before the site shut down. eg
6.7% for a 1 yr bond which matured in December 08.
6.6 for a 2 yr bond which will mature in Feb 10
6.75 for a 6m bond which matured in Oct 08
7.01 for a 1 yr bond which will mature in May 09.
You'll have to do your own calculations I reckon. If you accept the cheque then it is finalised, so if you think you have not been given the right interest don't pay it in. There is a number to contact on the letter sent with the cheque. However if you have no supporting paperwork I think it would be difficult to argue.

scrummy

Newly_retired wrote: »

You will get a cheque from FSCS when the bond matures.
I have had several cheques - no problems, and two more to come in due course. They told me they won't give you a tax certificate.
As far as rates are concerned, there were several, according to when you took the bond out and the duration. I can only give you information from old Icesave statements I printed off before the site shut down. eg
6.7% for a 1 yr bond which matured in December 08.
6.6 for a 2 yr bond which will mature in Feb 10
6.75 for a 6m bond which matured in Oct 08
7.01 for a 1 yr bond which will mature in May 09.
You'll have to do your own calculations I reckon. If you accept the cheque then it is finalised, so if you think you have not been given the right interest don't pay it in. There is a number to contact on the letter sent with the cheque. However if you have no supporting paperwork I think it would be difficult to argue.

Yeah, I'm pretty sure I'm getting screwed here. My 1 yr bond which matured April 09 paid 6.7%, when I'm pretty sure it shoulda been 7.01%. I have a much larger bond maturing in may 09 and, judging by the interim interest calculation, that's also going to be 6.7%, yet yours is 7.01%.

Unfortunately, the FSCS don't answer their phones, so I'll have to write to them and return my first cheque. Will need documentary evidence though, so still need help from you guys.

I wonder how many others have been short changed and are none the wiser.

agsnu

Seriously, you could have been in the same situation as Landsbanki Guernsey depositors and be getting 30p in the pound back, and you're whingeing about 0.31% in interest when you don't even have any records of what your bonds actually were?

Pathetic.

scrummy

agsnu wrote: »

Seriously, you could have been in the same situation as Landsbanki Guernsey depositors and be getting 30p in the pound back, and you're whingeing about 0.31% in interest when you don't even have any records of what your bonds actually were?

Pathetic.

Not really the point. If the FSCS are going to do this then they should get it right. I will lose over fifty pounds and, last time I checked, this was a money saving forum.

Paul_Herring

Paul_Herring wrote: »

Google had cached them, but no longer it seems; archive.org doesn't have a copy with FRSB rates on them, but I think I had a copy of the page at home - I'll have a look tomorrow (if I remember!)

It would appear that the copy I have only has the regular savings account on like the one at archive.org.

The only other page I have is the 'current rates' taken on October 8th:

fixed rate savings account
6 MONTH TERM
amount deposited gross pa paid at maturity gross pa paid monthly AER
£1000+ 6.75% 6.65% 6.86%

1 YEAR TERM
amount deposited gross pa paid at maturity gross pa paid monthly AER
£1000+ 7.06% 6.84% 7.06%

2 YEAR TERM
amount deposited gross pa paid annually gross pa paid monthly AER
£1000+ 7.06% 6.84% 7.06%

3 YEAR TERM
amount deposited gross pa paid annually gross pa paid monthly AER
£1000+ 7.06% 6.84% 7.06%

Sorry.

agal

How long after the maturity date do you expect to receive the cheque? I had the first one mature on May 9th last week but have received nothing so far.

Paul_Herring

How long after the maturity date do you expect to receive the cheque?

Don't remember exactly, but it was soon enough for me not to worry about any of them - I've had 3 so far (awaiting another 3, for which I've had a letter each for them. First of those is in July.)

[Deleted User]

6 weeks after maturity