Icesave

Seems they've frozen Landsbanki's UK assets too, until this is sorted. Such as they are.

First thing this govt has done that I approve of.

Assuming it's not more spin, of course.

What does happen when an entire country is bankrupt?

Roger Mills wrote: ....

Er, hot off the press: "Re: FYI - ING has taken over ICESAVE"

No other details yet. Anyone else?

Goodness knows what /that/ arrangement would mean for savers.

Went

Rgds Steve

We should nationalise Iceland, kick out its management and start disbursing its assets to the depositors.

FoFP

I did guess yesterday that Iceland's orders to their pension funds etc to repatriate their assets was because they planned to welsh on their obligations to depositors and expected such retaliation.

FoFP

ING have taken over Kaupthing Edge and Heritable Bank. Icesave is not included in the deal.

Chris

There's a statement from HM Treasury here, which clarifies what the Chancellor said, and appears to confirm that *all* saving with Icesave will be covered.

Thanks for that link Chris.

But Darling is /still/ expecting, judging from that text, that Reykjavik will cough up its share.

It would be /very/ nice if HMG covered the whole liability, and put a grudge in the drawer for when the Icelanders have some money......

"Savers? money is safe and secure." I'll believe that when I can move mine around again, and not until.

AIUI that is exactly what is on offer. Darling has promised that no Icesave saver will lose a penny.

Ret.

I'm afraid I have bad news for you and others in a similar situation.

I transferred nearly £30k at 19;00 on Sunday night - 05 October - and it was shown as processed on Monday morning. I expected it in my linked bank account by today but no trace until I logged on again an hour ago and found that the money had been returned to my Icesave account as a "correction item."

Can they recover amounts already in the BACS transfer system?

Has anyone who transferred on Sunday or Monday got their money?

I reckon I should have bit the bullet and spent £30 on CHAPS!

Worse still we have a large amount in their fixed rate bond which should mature in 2 months - at least interest is being credited monthly and Darling Alister should pay the whole balance at least up to the last monthly credit, which was actually credited on 5 October - Sunday!!!

jv

I'm afraid I have bad news for you and others in a similar situation.

I transferred nearly £30k at 19;00 on Sunday night - 05 October - and it was shown as processed on Monday morning. I expected it in my linked bank account by today but no trace until I logged on again an hour ago and found that the money had been returned to my Icesave account as a "correction item."

Can they recover amounts already in the BACS transfer system?

Has anyone who transferred on Sunday or Monday got their money?

I reckon I should have bit the bullet and spent £30 on CHAPS!

Worse still we have a large amount in their fixed rate bond which should mature in 2 months - at least interest is being credited monthly and Darling Alister should pay the whole balance at least up to the last monthly credit, which was actually credited on 5 October - Sunday!!!

I transferred and closed my account on Monday evening. I wont know for sure until Friday if the transfer has gone through - but the problem for me is that as I have closed the account my passwords don't work and I cannot access my account to see what is happening!

Ret.

My Icesave account has also been "corrected" as per Johnvon's post.

Transferred funds out Sunday "processed" Monday "corrected" Wednesday late

Thks Steve

Perhaps Labour Party Funds are in ICE? Derek.

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Would you trust a Nation who eat Puffins? Derek.

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ING web site tells saver that they are now guaranteed for 70,000 Derek.

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But SFAIAA, ING has only taken over the savings accounts held in Kaupthing Edge and Heritable Bank (which was owned by Kaupthing). ING has not taken over Icesave savings because, so far, Landsbanki has not been declared insolvent.

Ret.

Aren't you confusing Iceland with St Kilda?

And they are still crediting interest! Monthly interest due on