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.
When I first talked about the process for Icesave customers to request their compensation from the failed Icelandic bank, I mentioned the problems with using email for such a communication – that many emails would disappear into spam folders, and many recipients would be unaware that they ever arrived. It seems this has been the case for many customers.
Following on from my post yesterday about the Icesave compensation process, the first emails have started to arrive, and the following, for those who may be interested, is the text from the email.
It appears that the process put in place to compensate Icesave customers is kicking off this week as was hoped.
Here’s a breakdown of how the process should work.
Savers with Icesave who have had their accounts frozen may be “pleased” to find out that their compensation payment is set to be sorted out by 30th November 2008.
The Government has said that every UK Icesave saver will get their money back in full, and the majority of this should be paid by the end of November. Here we look at the process for receiving compensation.
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.