Thursday, October 30, 2008

and waiting and waiting

Saver still waiting for £24,000

A saver is still waiting for a £24,000 transferral from the UK arm of an Icelandic bank to appear in his bank account three weeks after making it. Rhys Livsey, 29, from Cardiff, withdrew the money from Kaupthing Edge a day before it was taken over by ING Direct after a financial crisis in Iceland. In an email the company told Mr Livsey his money "had been held up". A spokesman for ING Direct said the administrators were working on clearing payments from prior to the takeover. Mr Livsey, who works as a PA, told BBC News he had decided to move his money, a total of £24,067, after reading some reports of problems with the bank on the internet.

Posted by mark @ 01:32 PM (1082 views)
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9 thoughts on “and waiting and waiting

  • I wonder if Mr Livsey’s one of our readers?

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  • I have a similar problem with £20,000 of funds held up at icesave, which I tried to transfer on the 6th October. Apparently itt will be refunded by the FSCS but it is unnerving.

    What I hate is banks saying theat money has left an account one day, say the 6th October, but it will not appear in the other account for another three workign days, say the 9th. So during those three days the money doesn’t appear in either account. and what happens if the bank goes bust? That is the situation I find myself in with icesave and its pretty scary.

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  • I closed my icesave 3 days before they went into administration and I am still awaiting my funds.

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  • waitingfor hpc says:

    only fools put money in icesave after all we talked about on this site!

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  • waiting:
    Given that savers in the Icelandic banks in this country have lost nothing, and they benefited from a good rate of interest, I would say they made a good call. Could be by accident of course!

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  • I had a load in icesave and I removed all bar the bare minimum required to keep the account open after reading about it on this site. And I meant to close it completely months before I actually got round to doing it.

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  • We pulled 2 lots of £30k (sensibly each a/c in our separate names) out of Kaupthing the day before it was taken over by ING. Transfer was delayed, but ING promised all transfers would be honoured by 17 Oct…as promised the credit hit our current a/cs by CHAPS (without any fee) on the 17th. Mr Livsey should get his money and has been one of the unfortunate ones to experience a longer delay…but glad it wasn’t me!!!!

    Past few months has been like an Ealing comedy opening and closing accounts, and shifting money around to try to keep it relatively safe and high interest…all we want to do is buy a sensibly priced house but I’m going to end up with a degree in economics and banking along the way!!!

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  • everyone should remove all cash and stop using banks.

    destroy them, take things into our own hands. without the banks we wouldn’t be in this mess and be worrying about the cost of housing and wealth transfer to the rich.

    by leaving your pay in the bank, using a credit card, setting up direct debits. etc. you are only supporting the system that is screwing you.

    take action and cause a reaction. until you do, nothing will change.

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  • It has been an unsettling situation and it is difficult to know where to put one’s money. But provided it is spread around, one bank is as safe as another (in respect of govt guarantees). If the govt guarantee fails it’s all over anyway. Wouldn’t advise putting it under the mattress. But no one was stupid having their money in any particular bank; that is not wisdom but abuse.

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