Getting Back My Icesave Savings – Day 2

October 9, 2008 by · Comment
Filed under: Reclaiming Icesave Savings 

Another day, and more and more talking but still no action. Tonight we heard some very strong words from both Gordon Brown, and The Badger:

Prime Minister Gordon Brown has condemned Iceland’s handling of the collapse of its banks and its failure to guarantee British savers’ deposits.

Mr Brown said it was “effectively illegal” and “completely unacceptable”.

He said Iceland’s regulators had failed “not only the people of Iceland, they have failed people in Britain”.

Earlier the Icelandic prime minister, Geir Haarde, was asked if he felt there was a crisis in relations between Britain and Iceland.

He replied: “I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us.

“That was not very pleasant. I’m afraid that not many governments would have taken that very kindly, to be put in that category and I told the chancellor that we were not pleased with that.”

But he said he had cleared up a number of issues with UK Chancellor Alistair Darling.

The above extract taken from the BBC News website.

I think we will all have to wait a little bit longer to get back our money, but I think it’s reassuring to know that the governemt are actively trying to find a solution to the problem rather than trying to push it to one side.

So far nobody has reclaimed any money, but I still remain 100% confident I will get it all back eventually, the big question everyone wants to know is when?

In the meantime, here’s my suggestion:

We should all club together, if all of my readers put forward just £5, I think we could buy Iceland. I would then propose we turn it into a massive Top Gear studio! 🙂


Reclaiming My Icesave Savings – Day 1

October 8, 2008 by · 2 Comments
Filed under: Reclaiming Icesave Savings 

This blog is normally focused on Internet Marketing, eBay and technology based posts, but I happened to have a savings account with the Icelandic bank – Icesave. Yesterday, Tuesday 7th October it was announced that their parent bank, Landsbanki had gone into receivership and had been nationalized. All Icesave customers were unable to deposit, or withdraw money….But on the brightside, I guess we are now all proud owners of a glacier!

Since then it’s been very unclear as to where we stand, so I thought I’d blog about how to get back savings that were held with Icesave.

To start with, let’s take a look at the deposit insurance you SHOULD have with an Icelandic bank: (Taken from the Sky news website)

  • If an Icelandic bank fails UK customers are protected up to £50,000
  • Joint accounts will be protected up to £100,000
  • The first £16,170 of their money is protected by Iceland
  • The remaining £33,830 is protected by the UK government
  • If Iceland goes bankrupt, the UK will not cover the first £16,170

Since then we’ve heard that the Iceland Government has no plans to honor the insurance, which this morning caused the UK Government to personally guarantee all deposits in Icesave, and take legal action against Iceland for defaulting on the guarantee. It has also frozen all UK assests of Landsbanki until more information in available.

So where are we at know, and what should we do?

Well, there’s not really anything we can do. Nobody really knows how to go about claiming, or who to make a claim to. I’m sure things will become clearer in the coming days, but for now we have to wait for more information.

What Have I Done So Far?

I’ve logged into my Icesave account and printed off a statement of my account!

That’s all for now, I’ll post again when I have more information.