Icesave: how safe are your savings? Facts and myths

TomatoBoy · 7 November 2008 at 4:22PM

Thanks for sharing the update born2run. I tend to agree with you. Without any real visibility of the balance or written cast iron guarantee, waiting for an 'invisible' account balance to mature could be rather nerve-wracking .... and what if there was another crisis causing a run/runs on banks?

Tough decisions ahead methinks.

BenJames_2 · 9 November 2008 at 4:35PM

Hi marting thank you

My sister and her new husband have an account with icesave and it seems like they are very satisified by them.

Bromley86 · 10 November 2008 at 2:57PM

In the blog Martin wrote:

"This is something we’ve raised with Icesave; below is its response, which was backed up by a document from the Icelandic Financial Services Association; confirming the legal strength of the info."

I don't suppose it'd be possible for MSE to scan this in? Given that the current legal (rather than moral) situation appears to be that the 20k euro guarantee is not backed by the Icelandic government, it'd be interesting to see precisely what the FME were saying back in April (not as a stick to beat Martin with).

EconomicsGirl · 5 December 2008 at 11:57PM

EconomicsGirl wrote: »

I just opened a Tesco Internet saver - its paying 6.5% though 1.5% is a bonus for 12 months (so will need to review it then) and you also get lots of clubcard points if you have a clubcard - I don't and it said you could open one at the time but you couldn't so best to enter number at the time you apply. The website was www.tescofinance.com Has its own banking licence which is good.

Just incase anyone else is thinking of opening a Tesco account - it took 1.5 months to get online access and get a receipt for the money I invested. It took about 15 mins to get through on the phone to sort it out today and had to choose option to open an account as all other options it said weren't available "temporarily". Its very problematic to set it up. Think they can't cope with the demand but you'ld think they'ld recruit a few more staff with all the profit they make.

With Icesave I opted to keep my bond until March as its appears guaranteed and March isn't that far away (not sure I would have done it for a much longer away time). Haven't received a FSA paper form yet though.

Icesave: how safe are your savings? Facts and myths

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