ASK AN EXPERT: TRAVEL & HOLIDAYS. You've got a few more days to add your travel & holiday questions for deals expert MSE Oli
MSE News: Icesave compensation and Isa deadlines loom

1.7K Posts



This discussion has been closed.
Latest MSE News and Guides
Replies
Have got the money back, but not got round to arranging replacement ISAs yet. Had no idea there was any deadline.
How exactly did the goverment/FSCS think people were supposed to know this?
I will have to do something about it immediately and hope its in time. If not for happening to see this on MSE I would have lost the ISA allowance.
They can't havegiven it enough prominence.
It was well publicised.
http://www.fscs.org.uk/consumer/latest_news/2009/apr/Icesave_ISA_Reinstatement_Certificates/
You have a cheque???!!! Has any one else actually received money from the FSCS?
Now two weeks after cheque should have arrived from my maturing Icesave deposit, they tell me that the post is very bad and to allow 28 days after maturity date before contacting them again....why, oh why do they refuse to allow BACS transfers and insist on posting cheques for £50,000 in the middle of a postal strike campaign??
But they aren't set up to deal with BACs. I guess that it's because, prior to Icesave, the number of claimants have been much smaller so there was less of a 'need' to have efficient electronic systems.
There was a big consultancy exercise after they cleared the bulk of the Icesave paments to look at how they can do things better in future. IIRC, introducing payment via BACs was one of conclusions, but I don't think it will be happening in time to help Icesavers.
I wanted to put on record that other media writing about this story do not say that savers did not loose a penny. Savers who are also taxpayers have loaned the Icelandic government £2.3 billion which Iceland has 8 years to repay after which UK taxpayers will loose any outstanding amount. The Icelandic government has yet to repay anything, not that I agree is was ever justified to exploit Iceland's economic mess for the sake of a few percentage points of extra interest.