Icesave (waste Of Time)

ManAtHome

Market leaders are always likely to be a bit busy. Have just started the ICESAVE track, seems ok so far... Also no problems with BM - opened an account a month or so back and have done a couple of transfers in without problems.

brokebutmending

I've had an ICESAVE account for a couple of months now and my biggest problem has been in trying to get money into the account. Last week it took me hours to log in and instruct the account to receive money. Today, over 1 week later the money hadn't arrived and I rang them to ask what was happening - not wanting to reinstruct if the payment was hanging somewhere. I got through straightaway but couldn't hear the agent on the other line and told him this -eventually we got to the stage where I could just about hear 1 in every 4 words and told him that the fault wasn't with my line as I'd received numerous calls this morning without fault. To their credit they took my e-mail address as I suggested and e-mailed me back within minutes to explain that the instruction hadn't been processed. Very reluctantly I've now instructed them to receive this money - having lost about 2 weeks interest on a not inconsiderable sum of money. I'm staying with them for the moment because their interest rate is so good - but one more problem and I'll pull the plug.

loveabargin

I have set up an Icesave account and have had no poblems as yet. I have called their customer service a couple of times to check if they have recieved my R85 tax form and no problems getting through each time. I have also set up a DD for them to pull each month into my icesave account which seems to work fine.
My only complaint is that whilst talking to the CS person I enquired "is the money pulled each month cleared funds" to which she told me no I have to wait 7 days before it shows as cleared in my account due to the fact that where ever the DD came from can ask for it back within 7 days and is a safer way of transfering money for the customer.
Hope all you icesave account people was aware of this or if I have been given the wrong info I wait the correction.

chesky369

I believe the amount shows on the account but is not available to draw on; however I think it earns interest from the day it arrives.

A-Team_2

Yeah it earns interest from the day it arrives. And it is because of the direct debit gaurantee that you cannot move access these funds for 7 days. But at least I know my money cannot get lost in the process. Also most people paying into a savings account will not usually be pulling it straight out....otherwise you'd just stick with your current account!

beacon

It is unfortunate that one poster has to castigate another in the most pedantic terms when probably there was a simple misunderstanding. Tom188 may be brilliant, but not everyone is.

But the main point of this is to say that I couldn't agree more with the initial post. Icesave is without a doubt the worst company I have dealt with. I should have learned something when I didn't receive a reply to an e-mail I sent after first reading about the account. That might have been a sign of what was to follow, but nonetheless I went ahead on the 1st of February and applied, and transferred what is for me rather a large sum. I have heard nothing except an acknowledgement that the account was open and that I would receive a 'welcome pack' shortly. I have had nothing, and no one replies to e-mails. (I refuse on principle to telephone and be left holding; this is after all an e-mail account).

I have asked that my application be disregarded and the money returned to the bank from which it came, but no reply whatsoever in a fortnight.

Utterly unacceptable.

Jake'sGran

xnetco wrote:

I don't see why customers have to fit in with them! But I see your point.

Must agree with this. I dumped them too and when I sent an email asking for them to send the balance to the account listed on the original application form they replied that I must write or phone. I phoned at 8.20 in the morning and got the usual "due to the high volume etc" so I had to write. I like accounts that are easy to use.

home_alone

beacon wrote:

But the main point of this is to say that I couldn't agree more with the initial post. Icesave is without a doubt the worst company I have dealt with.
Utterly unacceptable.

Sorry to disagree I think icesave are great better even than ing used to be before I left them well apart from £2 that is, I have had no problems at all.

gary

ukamericano

Also note that Icesave only fully protects the first £2000 of your deposits and 90% of the next £33,000. This comes to a total of £31,700 that you could claim should the bank go under. I first noticed this in the T&Cs and checked it today with CS.

Bisoy

ukamericano wrote:

Also note that Icesave only fully protects the first £2000 of your deposits and 90% of the next £33,000. This comes to a total of £31,700 that you could claim should the bank go under. I first noticed this in the T&Cs and checked it today with CS.

This is not new. All lenders and banks who are under Financial Services Compensation Scheme (FSCS) have their customers protected if they go bust.

And same here no problems with runnning my ICESAVE account since I've opened it last October.