Icesave Savers Still Waiting…

As Godfey pointed out in a comment on a recent post, it all seems to have gone a little quiet since the collapse of Icesave, with many UK customers of the troubled Icelandic banks Landsbanki (owners of Icesave) and Kaupthing  still waiting for information about what has happened to their money.

The BBC’s MoneyBox radio programme has recently covered this issue, stating that Icesave customers are unlikely to receive any compensation for at least a few weeks (but at least it won’t be months).

Some savers with Kaupthing Edge are still waiting for their transactions to go through since being taken over by the Dutch bank ING, but most *should* now have gone through and have access to their money.

Under the rules of the Financial Services Compensation Scheme (FSCS), payouts should be made within 3 months, unless there are “exceptional circumstances”. I’d say that  these are pretty exceptional, but wouldn’t expect they’d hold up payment too much.

You can listen to the Moneybox programme online for more information.

One thought on “Icesave Savers Still Waiting…

  1. I think people in Great Britain would in much better situation if it wasn’t for Brown. In the same situation the government of Iceland and Holland sat down made deal for the Dutch people. They will get their money directly from the Dutch government and Icelandic government will pay to the Dutch government.

    Instead the Brown used the terror law against the Icelanders, only to make matters more difficult for his own people. Icelanders were always going to stick to their promise for the guarantee.

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