It looks like process to get Icesave customers their money back is working, as 10,000 randomly selected savers should now have had their funds transferred to their chosen bank accounts.
Despite the odd hiccup, the process has actually received a decent amount of praise, largely for the speed with which it has been organised and people have seen money returned. The great worry with this was that it could drag on for months.
It’s also good news to hear that the Icelandic Government is now going to meet its commitments and will pay the money to British savers that it initially said it was going to withhold, which will mean they’ll pay the first £16,000 of any claim – a little less money for our Government to pay out (and reclaim through taxes, of course).
