A whole 1% cut would be pretty unprecedented, but I would expect another cut sometime in the not too distant future.
BIG NEWS FOR ICESAVERS
- Thread starter awaybreaktoday
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A whole 1% cut would be pretty unprecedented, but I would expect another cut sometime in the not too distant future.
Soldato
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Anyone else receive their cheque from FSCS today?
You got a cheque? I just got a bank transfer a few weeks ago... Took a couple of weeks for the ISA certificate to arrive though.
certificate should be with you shortly - got mine about 10 days after money back in account
Soldato
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Yup I got a cheque today after filling out the form I got in the post 2 weeks ago, quite quick
No ISA certificate yet
Soldato
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This makes me sick, seeing my tax money go to reimbursing people who lost their money whilst making informed investments outside of the country.
Aha... Mine came through by email, not post, which may have a lot to do with it!Yup I got a cheque today after filling out the form I got in the post 2 weeks ago, quite quick
No ISA certificate yet
booyaka - sorry, what I was trying to say is that my cert did come through, but took a couple of weeks..
Bully for you. It was savings not investments covered by a compensation scheme which included the fscs cover. Hardly people taking a gamble with risky investments.
Soldato
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Savings = investments. You're investing outside of the UK, it is a gamble.
Soldato
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what?
My money was FSA guaranteed when i "invested". I think you'd be better off directing your rage towards the people being bailed out for borrowing money against their assets which they assumed would always go up in value...
Soldato
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I know that, but 100% of it?
100% up to the 50k limit yes. The payout past that point (or in fairness the limit just before that) then yes I agree saving over the 100% guarantee limit shouldn't have been paid off, it should have just been to the agreed total. People's own fault if they put in more than the guarantee, but for those who followed the rules and had their money guaranteed it should & has been paid back.
Soldato
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Yes, as above, up to 50K - sadly i didn't have more than that!
You have a point with regards to people who invested more than that but even so, it hardly compares to some of the other bailouts.
I think they damn well should, when you have X amount of councils depositing tax payers money in the same Icelandic banks...
Soldato
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The councils aren't getting their money back from the government unless they need the extra regular income. The reason why - because they are informed investors.
Why should our government guarantee the deposits of Iceland savers (above the standard £50k)? It isn't our, the tax payer's fault that people's foreign ventures have gone wrong.
I'm guessing that if someone has managed to save over 50k then they have paid a substantial amount of tax already and probably will continue in the future.
As opposed to bailing out the debtors who caused the recession? The sensible savers were sick of their life savings going to the debtors via tiny interest rates set by the boe so they invested elsewhere. You also seem to forget that you pay tax on savings accounts. The people who invested in icesave payed far more tax than they cost the government.
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If you invested in Icesave then your money wasn't FSA guaranteed - that scheme was opted out of by Icesave, in favour of an Icelandic government backed guarantee scheme, who subsequently went bankrupt. IMO you people are pretty damn lucky to be getting anything back from Icesave.
The worst thing is, people haven't learnt and are still investing their money abroad for higher interest rates, and no doubt if those go **** up they'll expect the UK government to bail them out again for their indiscretion.