Dot ComUnity Credit Union - ISA

colsten

Steve_xx wrote: »

You'd be ok as long as the FSCS doesn't go bust!

It could only go bust if the entire UK financial services industry went bust, together with the UK government. If this happened, the very last thing any of us needed to be concerned about would be cash.

badger09

masonic wrote: »

Just dug out the email I received from FSCS about the compensation. Looks like badger was spot on (my emphasis)...

That's because I had made notes on my spreadsheet at the time

colsten wrote: »

You'd expect that from an eagle eye ex tax inspector:D

You know me so well :rotfl:

FOREVER21

Contacted DotCom to-day, they have apparently raised the necessary money required by the regulator, however the regulator has asked for further information, which they are in the process of preparing.


Doubt whether date of lifting restrictions will be announced to-morrow as previously indicated, but at least they do seem to have made some progress, if we can believe them!

MARTYM8`

FOREVER21 wrote: »

Contacted DotCom to-day, they have apparently raised the necessary money required by the regulator, however the regulator has asked for further information, which they are in the process of preparing.


Doubt whether date of lifting restrictions will be announced to-morrow as previously indicated, but at least they do seem to have made some progress, if we can believe them!

Sounds like the regulator isn't totally satisfied - yet.

And the question remains - what happens on 5 May if there is a mass withdrawal of funds when all the April 2014 ISA mature on the same day?

Archi_Bald

FOREVER21 wrote: »

if we can believe them!

That's the crucial factor. I haven't believed a word they were saying, or writing, for the last couple of months.

Steve3S13

I still have not received a letter for either of our ISA's so I have no idea what I'm supposed to be believing........................:mad:

Good old Dotcon

MARTYM8`

Steve3S13 wrote: »

I still have not received a letter for either of our ISA's so I have no idea what I'm supposed to be believing........................:mad:

Good old Dotcon

Perhaps one of the 5 identical letters sent to abc2011 - who only has 1 account - were meant for you?:D

Forti

Spoke with Neil - embargo not lifted today. Still waiting for response from PRA, next target is Friday - their legal team are chasing.

Not great news, but I appreciate his frankness and transparency in his communications to me.

darren72

So their 'voluntary' restrictions have not yet been lifted - No surprise really.

pafpcg

In the course of an email exchange today, this is what I was told:

"The current position regarding ISA's is; we have met the Capital-to-Asset ratio of 5% and we have been in communication with the regulators to lift the restrictions - they have asked for clarity on a couple of items, which we have responded and we are awaiting their reply."

And after I queried on when:

"We are working tirelessly to assure they will be re-open for the 5th April - if this, for some unexpected reason, is not met we will notify all
members."

This was clarified as BEFORE 5th April (to allow me to invest the unused part of my 2014/15 ISA allowance).

As one of the optimists on DotComUnity, I have "donated" one of my switching bonuses to the basic share accounts to do my bit to support a credit union. Easy come, easy go?