Contacting Icesave

chekov99

Hi everyone,

I'm structuring my financial information and would like to get some details on accounts I've held in the past.

I'm trying to get hold of when I opened and closed my Icesave account, and closing balance etc. I opened this account when I was a lot younger and I wasn't very diligent with record keeping at the time, so don't have these details to hand.

Is this something that is available now that the company has been restructured? Does anyone know how to find this information?

Thank you

Tom

bowlhead99

Either you closed your account before the bank went under more than a decade ago, or you didn't and were compensated. Financial institutions aren't really required to hold customer product information from a decade ago, especially when they no longer exist.

It can't matter to you now what date you opened the product. You are not going to open the product again. You don't know what amount of money you put into some other product after getting it back from Icesave, and it doesn't have any bearing on your life today.

File it under 'unknown; doesn't matter'

Reed_Richards

chekov99 wrote: »

I'm trying to get hold of when I opened and closed my Icesave account....Does anyone know how to find this information?

Finding information on closed accounts can be very difficult even if the financial institution still prospers and you still have other accounts with them. In this case it can't, surely, be worth the effort.

bowlhead99 wrote: »

Either you closed your account before the bank went under more than a decade ago, or you didn't and were compensated.

I myself am in the latter category

Uxb1

I dimly recall that all Icesave savers were contacted by the FSCS by email
They were then told to log in and complete the authorisation procedure online to retrieve their savings in one single payment back to their linked bank account - this being paid by the FSCS as Icesave was by then bust.
Or... for those with fixed term savings bonds they were given the option of doing as above and the bond would be early terminated or they could let it run to it conclusion and then do a paper based claim off the FSCS in a year's or so time later.

poppy10_2

Uxb1 wrote: »

I dimly recall that all Icesave savers were contacted by the FSCS by email
They were then told to log in and complete the authorisation procedure online to retrieve their savings in one single payment back to their linked bank account - this being paid by the FSCS as Icesave was by then bust.

Weren't the accounts all transferred to ING? I know that happened with my Kaupthing account.
I had an Icesave ISA too but don't remember ever doing this online claim process

masonic

poppy10 wrote: »

Weren't the accounts all transferred to ING? I know that happened with my Kaupthing account.
I had an Icesave ISA too but don't remember ever doing this online claim process

No, not Icesave, unless I'm misremembering, they converted the existing website into a FSCS claim portal.

ffacoffipawb

If you have difficulty viewing this newsletter please click here.
Dear Icesave account holder

Icesave accounts with the London branch of Landsbanki Islands hf

This email has been sent to you because records available to us indicate that you hold an account with Icesave. If you do not hold such an account, please contact us by email at enquiries@fscs.org.uk

The Financial Services Compensation Scheme (FSCS) is pleased to confirm the arrangements by which account holders with Icesave will be paid compensation. This will be done through a streamlined electronic process using the bank account that was nominated by you for the purpose of receiving funds from your Icesave account.

Icesave was operated by the UK branch of Landsbanki Islands hf, an Icelandic bank, which stopped doing business on 7 October 2008 and, for the purpose of claims to the FSCS, was declared to be in default on 8 October 2008. Depositors with Icesave are protected for the first part of their loss by the Icelandic Depositors’ and Investors’ Guarantee Fund (DIGF) and for the next part of their loss (up to £50,000) by the FSCS. On 8 October 2008, the Chancellor of the Exchequer confirmed that all depositors with Icesave would be paid their deposits in full, including what they are entitled to from the DIGF and the FSCS and any amounts above the maximum compensation payable by the FSCS.

This communication sets out the basis on which compensation will be paid to you. The full payment will be arranged by the FSCS, although HM Treasury (HMT) will in the first instance fund amounts to which depositors are entitled from the DIGF and, if applicable, amounts above the current FSCS limit of £50,000. Depositors will be paid without needing to submit a separate application either to HMT or the DIGF.

We will be using the existing Icesave website to pay compensation. You may notice that the website looks a bit different. This is because we have removed some of the images on the website to improve its performance during the electronic payment process. The website will be unavailable this week whilst we develop it to pay compensation. Please also be aware that the log on process will be the same as usual and although you will be asked to confirm your nominated account details you will not be asked to provide these details.

As noted above, compensation will be paid into your nominated account (that is the linked account you nominated for your account with Icesave). Although instructions received via the Icesave website on or before 7 October 2008 to change the details of that nominated account will be processed, no further changes will be possible if you wish to receive payment in this way. This is for your security.

We are aware that some customers will not be able to take part in the electronic payment process for a variety of reasons, such as not having a nominated account set up, or where notification has already been given to Icesave that the account holder is deceased. We have tried to identify these account holders and will begin sending out application forms to them from mid-November 2008 onwards. If you fall into this category, you do not need to take any further action at this time. The non-electronic process will be slower (we aim to complete this process as far as possible within 6 weeks of receipt of a completed application form), but you will receive the same amount of compensation no matter which process you use (unless you hold a fixed rate savings account and opt to await payment until the end of the term).

The Icesave systems were not designed to pay all deposits at once. The electronic payment process will be phased to manage the demands on the systems and in the interests of security. Over the next three to four weeks, depositors will be sent a further email inviting them to initiate the payment process. These emails will be phased and sent in batches. Once you have received this invitation email, please log in and follow the instructions on the Icesave website as soon as possible after receiving your invitation email. If you do not receive this second email by 4 December, please contact Icesave’s Customer Services Helpline on 0845 605 8050.

This electronic payment process will operate on the following basis:

You will need to log on and access your account as usual. The same security measures will apply, including your User ID, unique password and memorable information. You will be guided through a process where you will be asked to confirm the balance of your Icesave account, and then make your application for compensation. This process will take a short while to complete, and you should be paid your compensation within five working days of completing the application.

For instant access account holders, you will be able to be paid into your selected nominated account. You will be paid the principal sum and interest accrued up to and including 7 October 2008.

For ISA holders, the same process will apply as for instant access account holders. An ISA certificate will follow by post to allow you to reinvest that sum in an ISA with another provider. The money you held in your ISA will not lose its tax-free status if you reinvest by 5 April 2009. You should receive your ISA certificate within 2 weeks of claiming compensation using the electronic process and you will have to give this certificate to your new ISA provider when you open your ISA with them. You should ask for an ISA transfer form from your new ISA provider.

For fixed rate savings account holders, Icesave offered a range of accounts which are not repayable in full before their maturity (in some cases for up to three years). If you wish, you will be able to use the same electronic payment process to be paid the principal sum plus interest on that sum up to and including 7 October 2008. In other words, you do not have to wait until the end of the fixed term to have your money back. As above, payment will be made to your selected nominated account. On the other hand, if you prefer to wait until the end of the fixed term, and receive interest which would have been due at maturity, the electronic process option is not available to you. However, you should still log on to the website and tick the appropriate box to confirm that this is your wish. At that time, we will be notified that you wish to wait until the end of the fixed term and we will then send you an application form to complete and return to the FSCS. As described above, this process will be slower, although we aim to complete this process so far as possible within 6 weeks of receipt of a completed application form, with payment following the maturity date of the account. You should also be aware that if you hold a fixed rate savings account that pays interest on a monthly, quarterly, or annual basis, and you decide to hold that account until maturity, you will not be paid any interest prior to maturity.

If the account you hold with Icesave is a joint account, the invitation email will be sent to the first named account holder, in accordance with the account terms and conditions. This will enable your joint savings to be paid to the first named account holder. As described above, electronic payment will be made to your selected nominated account. If you do not wish payment to be made in accordance with the account terms and conditions, you will need to inform the FSCS and we will send you a paper-based application form to complete.


When you access the Icesave website to proceed with the payment process, you will be asked to confirm your identity and the details of your selected nominated account. In addition, before the payment can be made, you will be asked to confirm that you accept the payment in satisfaction of your claim for compensation against the FSCS, and to confirm the transfer of your claims against the DIGF, Landsbanki Islands hf or any other party in connection with your Icesave account to the FSCS. This will enable the FSCS to seek to recover the cost of paying compensation to you from the DIGF, Landsbanki Islands hf or any other relevant party.

We hope that this communication has explained what to expect. Please now wait for the next email which will invite you to seek payment of compensation. You do not need to do anything more until you receive your next email.

We believe this electronic payment process best meets the needs of the vast majority of Icesave account holders by offering a relatively quick payment mechanism and avoiding the inconvenience of completing paper application forms and awaiting payment by cheque.

If you have any questions, please contact FSCS’s Customer Helpline on 0845 7300 131 (Icesave enquiries only). If you have any queries regarding the online operation of your Icesave account, please contact Icesave’s Customer Services Helpline on 0845 605 6050.

Yours faithfully

FSCS

This e-mail and the information it contains may be privileged and/or confidential. It is for the intended addressee(s) only. The unauthorised
use, disclosure or copying of this e-mail, or any information it contains, is prohibited and could, in certain circumstances, be a criminal offence. If you are not an intended recipient, please notify us immediately.

The Financial Services Compensation Scheme Limited
7th Floor
Lloyds Chambers
1 Portsoken Street
London E1 8BN
Registered in England & Wales No. 3943048

Switchboard: 020 7892 7300

Ian011

ffacoffipawb wrote: »

If you do not receive this second email by 4 December, please contact Icesave’s Customer Services Helpline on 0845 605 8050.

Offering a premium rate 0845 number is a breach of FCA regulations effective 26 October 2015 and this number will no longer be in use.

ffacoffipawb wrote: »

If you have any questions, please contact FSCS’s Customer Helpline on 0845 7300 131 (Icesave enquiries only).

The FSCS should not be offering a premium rate 0845 number for enquiries.

Indeed, the correct contact details, from the FSCS website, are:
Enquiries - 0800 678 1100 - International +44 20 7741 4100
Claim service helpline - direct customers - 0800 091 4100
Claim service helpline - representative firms - 0800 091 1011

ffacoffipawb wrote: »

If you have any queries regarding the online operation of your Icesave account, please contact Icesave’s Customer Services Helpline on 0845 605 6050.

Offering a premium rate 0845 number is a breach of FCA regulations effective 26 October 2015 and this number will no longer be in use.

Alarm bells are also ringing as the so-called Customer Services Helpline changed within the email from ending 8050 to ending 6050.

ffacoffipawb wrote: »

The Financial Services Compensation Scheme Limited
7th Floor
Lloyds Chambers
1 Portsoken Street
London E1 8BN
Registered in England & Wales No. 3943048
Switchboard: 020 7892 7300

Likewise the FSCS website gives these details:

Financial Services Compensation Scheme Limited
Head Office
10th Floor
Beaufort House
15 St Botolph Street
London EC3A 7QU

0800 678 1100
Registered as a Limited Company in England and Wales No 3943048.

Chino

Ian011 wrote: »

Offering a premium rate 0845 number is a breach of FCA regulations effective 26 October 2015.

Ian011 wrote: »

The FSCS should not be offering a premium rate 0845 number for enquiries.

Ian011 wrote: »

Offering a premium rate 0845 number is a breach of FCA regulations effective 26 October 2015.

Now re-read the post you quote and observe the date when the FSCS email was sent.

Ian011

I originally read this as November 2018 and then updated the post a few minutes later to reflect the new understanding. Some time later I fixed an additional typo.

bowlhead99

Ian011 wrote: »

I originally read this as November 2018 and then updated the post a few minutes later to reflect the new understanding. Some time later I fixed an additional typo.

If you did indeed quickly update it to reflect your 'new understanding' that this was a letter to savers in 2008 about actions that they could take at that time, why does the main thrust of your post #8 still appear to be three complaints that offering a premium rate number is a 'breach of regulations' or 'should not be offered' in 2015? I struggle to see why you are passionately reiterating this point as if the FSCS were wrong to put the details in the letter over ten years ago.

And likewise, if you understand that the letter was crafted over a decade ago, and that it's unlikely that the defunct "IceSave" business's dedicated customer service line exists any longer, there's no real need for 'alarm bells are ringing' ? If I had 'alarms' going off in my head for things like this, i'd be a nervous wreck by now.

- "Hello, customer service here!"

- "Hi, when I was younger I didn't keep records, can you tell me when I first opened my account with IceSave in the UK. It would have been more than a decade ago, as I'm aware IceSave no longer exists"

- "We don't really know or care, as we no longer exist, and this call is a figment of your imagination" [click] [silence]

- "Dammit, if only I had some sort of alarm bell to warn me about the suspicious letter that the FSCS circulated in 2008..."