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.
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