I am going to wait and see what happens in the budget. There is still plenty of time for this years ISA. I would think later in the year interest rates must move up, if only a little. We helped our youngest to get started with a house just before things crashed. Although I think the house has lost a little of its value the thought of what we could have lost seems to make it not worth worrying about. After all, he doesn't intend selling in the short term and he can just about to afford to live there. Good luck. Kevin

Afternoon All

If anyone else is in the same position as me i.e. requires a document declaring how much tax they have paid on their Icesave interest so they can claim it back from the Government, then the below should be of interest...

'We appreciate the importance of your enquiry and are pleased to advise you that Closing Balance Statements and Tax Certificates are currently being prepared and will automatically be sent to all Icesave customers.'

Fingers crossed that it won't be too long a wait...

Hi everyone, The FSCS keep sending me letters asking to prove the amount owed to me. They don't quote any details, when I rung they are not sure. They finally decided they just need to check account numbers. Then I got a further letter querying a specific account. It transpires they want a statement, although the money has been refunded! I did explain to them that the nature of an internet bank accout means you don't get statements, well not that often. Plus it was my mum's easy access account. They accepted if they had paid it out I didn't need to send proof of the debt! Tip keep every bit of paper re ICESAVE.

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Great News Today!

Got a lettter from FSCS today to confirm that I will get allmy money back on the 3rd of September, plus interest of £16,975.00. Off to the pub then!!

FAO fixed term account holders:

My bond matured on 15th May. I received a cheque on Friday 15th May, and it cleared on Thursday 21st May. Good service - I hope the rest of you are as fortunate as me.

Good luck all

Hello All,

Seems the forum is fast fading but thought I'd share this about Icesave in the news this week:

http://news.bbc.co.uk/1/hi/business/8086997.stm

I's incredible it's still dragging on after all this time...

Best wishes

Derek

I've just received my certificate of deduction of tax for my Icesave deposit account. I'd almost given up hope of getting one. It included a letter with a paragraph of apology for "the anxiety their action must have caused their depositors" I'll say!!

I did hear on the news about Icesave swifts - as you say, still lingering on.

Hope everyone is keeping well,

Mel

Hello Swifts and all.

Nice to hear folks are still with us. Yes, it's good news to hear that Iceland are at last repaying their debts.

I have just received my payout from FSCS for the fixed rate money I left in there, so that's me done now. Bit of an anticlimax after all that nailbiting, and an odd feeling now that we've all gone our separate ways.

Best wishes to everyone for a happy and less stressed future.

May.

Hi everyone, I have a few fixed term deposits. One runs until Feb 2011 and another until late March 2011. Its going to be a long wait but at least I'm getting a decent return on the money. Nevertheless I'll be happy when I have it back in my hand.

Hi Everyone - don't have to much to say but I do curiously get drawn from time to time to this forum - I suppose its because it was such a great support network when we were all going through the trials and tribulations of the Icesave saga....It is nice to still see the odd post and I also read about the Icelandic's finally agreeing to pay back the UK Government....

Must admit that finding a decent return on our money is almost impossible but I don't think I'll ever feel inclined to put it offshore

All the best to everybody - Tony (aka Microlighter)

kev2006n:Hi everyone, I have a few fixed term deposits. One runs until Feb 2011 and another until late March 2011. Its going to be a long wait but at least I'm getting a decent return on the money. Nevertheless I'll be happy when I have it back in my hand.

Hi Everyone,

I check back here now and again...good to know that sometime (7 years??) in the future Iceland will have repaid the £2billion it owes the UK Gov. for paying us all out.

I am not attempting to scaremonger but ex Icesavers (and anyone else reading this forum) should note that the credit ratings of 2 of Irelands biggest banks have recently been down-rated.......if anythinng goes wrong Ireland will have to pay up and not all experts think that their government can afford to meet its obligations in this regard should the worst happen.....

No posts for over two months; nice to see calm after the storm. I presume everyone is now settled.

All good wishes,

Swifts

There was an article on Iceland in the Sunday Telegraph yesterday.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6034654/Iceland-what-ugly-secrets-are-waiting-to-be-exposed-in-the-meltdown.html

Sparky

One not inconsequential bit of the aftermath concerns the remarks of the Icesave CEO on Raido 4 Moneybox the weekend before the collapse, reassuring savers that their money was safe and they could access it when they wanted. Even after writing to my MP, who in turn wrote to the Chancellor, it seems no-one is even willing to say which regulator or body is responsible for taking any action on this.

These false assurances, together with the freezing of withdrawals including CHAPS withdrawals, probably resulted in the overall amount of FSCS compensation being much higher than it should have been - a burden on the rest of our financial system. There is also the small matter of principle in a CEO going on natinonal radio three days before the collapse and telling savers their money is safe - with impunity. What precedent does this set ...

Yes I have been compensated but no I am not happy because of what I termed in my letter to my MP, "regulatory pass-the-parcel". Originally I complained (about the Icesave CEO's statements) to the FSA who referred me to the FSCS, who referred me to the FSA. Others on this board complained to the Serious Fraud Office and the police without success.

The Telegraph coverage is beginning to highlight the regulators' buck-passing and systematic unwillingness to delve into the Icelandic banking collapse in general and the letter I received back from the Treasury is a case in point: after four and half months pretty much all they managed to say was that "it is not a matter for" us and "I would suggest your constituent contact the appropriate authorities" - ignoring the whole reason I wrote to my MP at all was that I could not find out exactly who "it was a matter for" in the first place.

The letter also dismissed my point about the impact of FSCS compensation on UK finances, saying that Iceland had agreed to refund "the compensation the UK had provided to Icesave depositors". In reality as far I know, they only refunded the portion Iceland had reneged on: they didn't refund the entire sum including the UK portion. So my point still stands.

Has anyone else been following up this issue and had better success so far?

GRT

I think you are expecting too much for anyone to take responsibility. The world financial markets were gambling with huge sums that in reality did not really exist. When the music stopped in this pass the parcel game, those holding the parcel and anyone connected to them was scre*wed. The government will have lost money from Icelandic banks, that they will not recover much of and as taxpayers over many years we will face having to pay more.

Don't expect any official actions to happen. Governments, business and rich individuals all around the worlds rely on the financial markets to make them money. They would have lost money in the banking crisis but they will not allow anything to get in the way of the markets getting back to the way they were. So don't expect any government to bring in onerous regulations and for regulators to enforce current rules too differently than before. They might look at risk exposure a bit more, but will they apply any stricter measures e.g. higher capital requirements. Governments in most countries are beholden to big business and the rich, who fund their policitical parties. How much did the last US presidential election campaign cost to run and where did the money come from? Do you think that any sensible politician is going to do anything or say anything which might affect donations?

If I had recovered my money from the FSCS scheme I would think myself fortunate,as without this matters would be much worse. Unfortunately you will have to remain annoyed by this, because you will never receive any answer from anyone who will accept responsibility. It is not in their interest to do so.

Huckster