Is it doom?

[murasaki_star]

Icesave latest is that basically the Icelandic government have said "Ha ha ha, we don't have any money to compensate you with, and even if we did, we'd give it to Icelandic nationals first", but the UK government have said that they will step in to make sure we get our money back

Comments

[madfuzzy]

Looks like your money might well end up being owned by the Russians.

Frankly I don't know if that's more reassuring than what our government is saying or not.

[murasaki_star]

As long as it gets unfrozen and we can get it the F out of there, I don't care.

As terrible as it would be to lose 3-4 years worth of Cash ISA allowance, and lose out on £100+ a month interest (what we currently earn), if it came down to it I'd happily sacrifice it to get the £20k back.

[madfuzzy]

Absolutely. When you do eventually get your money back (one way or another), you may want to consider an ICICI Hi Save account instead.

Or may you might want to consider investing in a super king-sized mattress and start stuffing it with fifties if you have been put off foreign banks for life (which is quite likely).

[murasaki_star]

J has an ICICI account from ages ago. But I'm not greatly enthused about it really. I think next time we're putting our money in a bank that has a physical presence, so we have somewhere to turn up with the pitchforks and torches in future.

[confuseddave]

I very almost put money in IceSave (seriously, all I'm waiting for is an acceptable proof-of-address; I had the cheque written and ready).

I'm kind of thinking of National Savings and Investments Direct ISA now - probably about as safe as it's possible to be. :$

[murasaki_star]

Apparently the Post Office also have a good one, 6.25%

Safest place now is probably NS&I, as you said, or Northern Rock / B&B (nationalised banks now!)

Or gold

Or put it under your matress :)

[confuseddave]

Has B&B properly been nationalised? Most up to date I heard (two days ago) it was still up in the air.

I have a vested interest as Maddy has shares in them (she was given when they turned into a bank, and her Dad bought her some more earlier this year as a present). They were worth about 10% of what she paid for them when the Government froze their shares two weeks ago, but can't find anyone who will actually unequivocally say that they have gone forever (which will apparently happen when the bank is nationalised).