Charter Bank savings rates, am I missing something?

garmeg

When icesave went mammaria verticulus in 2007 I am sure I got the FSCS payout through in a few days thanks to Mr Alastair Darling. The only time I am likely to show gratitude to a Labour chancellor.

sweetsand

garmeg said:

When icesave went mammaria verticulus in 2007 I am sure I got the FSCS payout through in a few days thanks to Mr Alastair Darling. The only time I am likely to show gratitude to a Labour chancellor.

Not according to this.
https://en.wikipedia.org/wiki/Icesave_dispute

NottinghamKnight

Why would you need it in a week?

a4alan

sweetsand said:

garmeg said:

When icesave went mammaria verticulus in 2007 I am sure I got the FSCS payout through in a few days thanks to Mr Alastair Darling. The only time I am likely to show gratitude to a Labour chancellor.

Not according to this.
https://en.wikipedia.org/wiki/Icesave_dispute

We had savings with both Icesave and Kaupthing Edge back then.   One was an instant access account, one was a 1 year fixed rate (can’t remember which way round).    Both were below (or at) the FSCS compensation limit at the time.    The FSCS worked incredibly well and quickly.  We got the instant access funds back (including full interest owed) within days, as I recall.    The 1 year fixed rate was repaid in full with interest on the originally intended maturity date.   It was very impressive.   

The wiki page you posted I think is mainly about the dispute between the UK and Icelandic governments about who should pick up the bill, which did go on for a while.

Contador38

Many years ago, I was a volunteer in XYZ Credit union and we had to certify every week that we could produce within 24 hours the list of all members /address and their savings to the F C A.
They could as well test our capability by asking for the list to be supplied to them even if we were not at risk of defaulting.