Welcome Landsbanki!

climbgirl

Leanne200 wrote:

So Whaling issues aside... what is the general concenus on Icesave? Good or bad?

So the first deposit is £250 then you have to put in a min of £100 per month. Does this have to be 'every' month and can you only put money in via DD?

Cheers

I'm liking it so far! There are some slightly negative issues, like the low interest if your balance drops below £100 (I'm sure I read that rather than £250?) and the need for any additional deposits to be over £100 (whenever you like, no required monthly deposit). Also some people don't like the fact that you can only pull money in by DD, not push it from other accounts.

But I have to say, their customer service is fantastic so far. I had a query about using a non-UK passport for ID (it's fine BTW), they answered the phone within seconds, knew what they were talking about, very quick to set up the account etc.

If the conditions of the account are ok for you in terms of minimum balance/deposit and method of deposit, then I'd recommend it!

lswwong

Despite small set back earlier, my Icesave account is operating now and all is well!

Very happy with them so far.

DocProc

Once the Icesave account is opened and has got its initial balance and is up and running, Icesave say:

Important Notes: Transfers in

· Please ensure that you have sufficient cleared funds in your nominated account before requesting a transfer into your Icesave Account.
· You will start to earn interest on money transferred into your Icesave account from the day we receive the money. Until your money becomes available for withdrawal it will be shown under the processed balance.

Now when you top up the Icesave account, since the funds are PULLED into Icesave from the Nominated Account, one wouldn't expect to see them leave the Nominated Account until about the third day.

If the Nominated Account is with, say Lloyds TSB, well this bank has a switchable Online Saver account for surplus current account funds.

I was wondering as to whether the proposed amount of funds under potential transfer to Icesave can be left in the Lloyds TSB Online Saver account for an extra couple of days instead of immediately putting it rather 'interest wastefully' into the current account, where it doesn't earn any interest, as Icesave suggest? It would thereby be earning a couple more days worth of interest at Lloyds TSB Online Saver rates.

Does anyone know anything about this?

On DAY ONE, when you PULL from into an Online Saver, do the funds need to be immediately available and fully cleared in the Nominated Account also on DAY ONE?

Or can the availability of cleared funds in the Nominated Account wait until DAY THREE?

ie, Can you squeeze an extra couple of days interest out of this?

Stompa

DocProc wrote:

Does anyone know anything about this?

FWIW on the only occasion I've tried pulling funds into IceSave, I did the transaction online on the Monday and the funds appeared in my IceSave account on Wednesday. According to the funding account online statement the DD also happened on the Wednesday. Of course that doesn't really answer your question.

DocProc

Here goes.

I'm going to try to enjoy my 'about to be transferred funds' for just one more night.

Stompa

I experienced a bit of difficulty logging in to my account yesterday. I got to stage 2 of the log in, where it asks you to enter 3 characters from one of your memorable thingies. Unfortunately on this occasion it was memorable date. Now the positions of the characters depends on the format of the date, 28/10/2006, 28/10/06, 28102006, 281006 or whatever. Does anybody know which they expect you to use?

FWIW when I assumed 28102006 it got rejected (or I guess I could have made an error entering the numbers). I didn't get a second chance to try as next time it asked for characters from my memorable place instead.

DocProc

The date format is of the order '28.06.1954' - sorta kinda

Thus, the fifth character is '1', the eighth is '4', the third is '0' and the second is '8'.

Stompa

DocProc wrote:

The date format is of the order '28.06.1954' - sorta kinda

Thus, the fifth character is '1', the eighth is '4', the third is '0' and the second is '8'.

Are you sure, as that's what I assumed on my only failed attempt?

I had wondered if it might be 28/06/1954, but that they would never ask you for the 3rd or 6th character (which would be a '/'). Either way there seems to be a lot of potential for confusion here - well I'm confused anyway!

martyn4764

It's 28061954; no punctuation.

[Deleted User]

So now everyone knows DP's Date of Birth.