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A sign of the times..... (73)

Oct 7, 2008 10:20 AM CST A sign of the times.....
phoenix
phoenixphoenixparis, Ile-de-France France103 Threads 4 Polls 5,247 Posts
Icelandic internet bank stops British customers making withdrawals as bank goes into receivershipBy Daily Mail Reporter
Last updated at 2:01 PM on 07th October 2008


More than 200,000 British investors in the Icelandic internet bank Icesave were today unable to make any deposits or withdrawals from their accounts.

Customers hoping to access their account were met with a message on the bank's website this morning which said that Icesave was not 'currently processing any deposits or withdrawal requests'.
There was no explanation for the move but it comes as Iceland's government grappled with a major crisis in its banking sector.
This morning Iceland used emergency powers adopted on Monday to dismiss the board of directors of Landsbanki, the bank that owns Icesave, and put the bank into receivership.
'Landsbanki would like to stress that the bank has not been put into liquidation but is in receivership which gives it a temporary protection from payment of debts and obligations as they fall due,' the bank said in a statement.


The notice on the Icesave website read:

"We are not currently processing any deposits or any withdrawal requests through our Icesave internet accounts.

"We apologise for any inconvenience this may cause our customers. We hope to provide you with more information shortly."
Angry customers wrote on MailOnline's sister website , thisismoney.co.uk about their situation.
Justin Smith, an IT consultant from West London, said: "I feel confused and badly informed by Icesave - there has been no direct communication from the firm and now I am unable to withdraw my life savings, with no idea on what happens from here.
"I only recently transferred all my ISA savings to the bank, attracted by high interest rates and guarantees and now I am facing the prospect of having to go through the painful process of claiming back from two governments and the possibility of losing my ISA tax wrapper on nearly 10 years' of savings."
If Icesave is declared insolvent, British customers with sole accounts will be able to reclaim up to £50,000 and those with joint accounts are protected up to £100,000.
But the payouts are complicated by the fact that the Icelandic scheme would pay the first 20,887 euros (£16,170) people lost, with the FSCS topping up the rest.
If the Icelandic scheme was unable to cope with the scale of the payouts, other Nordic compensation schemes would step in as part of a reciprocal agreement the countries have.
Oct 7, 2008 10:27 AM CST A sign of the times.....
gongman
gongmangongmanCarcassone, Occitanie France35 Threads 2 Polls 698 Posts
Good timing my friend.... enjoy the film
Oct 7, 2008 10:28 AM CST A sign of the times.....
Mirodenia
MirodeniaMirodeniaNew York City, New York USA61 Threads 8 Polls 2,387 Posts
What can I say? A total mess.
I wonder what will happen next.
Seems that all Europe is on fire.
We are joking here but I am sure we all think of how this crisis affects us.
Oct 7, 2008 11:03 AM CST A sign of the times.....
Lagoona22
Lagoona22Lagoona22Bugibba, Majjistral Malta249 Threads 28 Polls 18,518 Posts
Well, that's the point...goverments and banks are now terrified that there will be a run on their accounts, and people will come streaming in to withdraw their savings...if that happens, and people all over the world are swept up into a run for the money, the whole financial system will collapse...some people are not even joking when they say it is a good time to go, get your cash, and stick it under your mattrass....it may well be a lot safer than any bank right now....what a disaster!!


doh
Oct 7, 2008 11:05 AM CST A sign of the times.....
Mirodenia
MirodeniaMirodeniaNew York City, New York USA61 Threads 8 Polls 2,387 Posts
Lagoona22: Well, that's the point...goverments and banks are now terrified that there will be a run on their accounts, and people will come streaming in to withdraw their savings...if that happens, and people all over the world are swept up into a run for the money, the whole financial system will collapse...some people are not even joking when they say it is a good time to go, get your cash, and stick it under your mattrass....it may well be a lot safer than any bank right now....what a disaster!!



Can you tell me please what happened, why is all this mess? I was not reading news, nor TV for a long time.
Oct 7, 2008 11:06 AM CST A sign of the times.....
Lagoona22
Lagoona22Lagoona22Bugibba, Majjistral Malta249 Threads 28 Polls 18,518 Posts
I would be pleased to tell you all about the financial crisis......please come to my office after work, and wear a short skirt...


rolling on the floor laughing doh


Mirodenia: Can you tell me please what happened, why is all this mess? I was not reading news, nor TV for a long time.
Oct 7, 2008 11:10 AM CST A sign of the times.....
Mirodenia
MirodeniaMirodeniaNew York City, New York USA61 Threads 8 Polls 2,387 Posts
Lagoona22: I would be pleased to tell you all about the financial crisis......please come to my office after work, and wear a short skirt...



This is exactly what you told me the other day.
You forgot???

I send you a non decent picture or I watch tv.
No bargain with people with such a short memory!

devil
Oct 7, 2008 11:17 AM CST A sign of the times.....
Lagoona22
Lagoona22Lagoona22Bugibba, Majjistral Malta249 Threads 28 Polls 18,518 Posts
Exactly!!!...this was my point....to show the stupid, mindlessness of the average male....with only one thing on his mind.....and repetitious....that's why I repeated word for word the same silly, sexist snide smirky sleazy comment that I made the other day....silly silly boy!!...needs a good slap man....!!

...sometimes you have to show by blatant example, the superficiality of the average male out there....purely as an education you understand...We on CS, on the other hand, you have five fingers...sorry, I've lost the plot of the argument, because I was hoping by this point that you would have stopped reading this drivel....


doh angel


Mirodenia: This is exactly what you told me the other day.
You forgot???

I send you a non decent picture or I watch tv.
No bargain with people with such a short memory!
Oct 7, 2008 11:26 AM CST A sign of the times.....
phoenix
phoenixphoenixparis, Ile-de-France France103 Threads 4 Polls 5,247 Posts
Lagoona22: Exactly!!!...this was my point.... needs a good slap man....!!

.......purely as an education you understand...We have five fingers...sorry, I've lost the plot of the argument, because....



I agree lagoona.....rolling on the floor laughing rolling on the floor laughing rolling on the floor laughing
Oct 7, 2008 11:41 AM CST A sign of the times.....
Lagoona22
Lagoona22Lagoona22Bugibba, Majjistral Malta249 Threads 28 Polls 18,518 Posts
banana banana banana


phoenix: I agree lagoona.....
Oct 7, 2008 12:14 PM CST A sign of the times.....
ghost007
ghost007ghost007swieqi, Majjistral Malta64 Threads 6 Polls 1,167 Posts
so how are you guys reacting to this sit ..have any of you actually gone and withdrawn your life savings and tucked them under the matress at home!!!!!
Oct 7, 2008 12:15 PM CST A sign of the times.....
Lagoona22
Lagoona22Lagoona22Bugibba, Majjistral Malta249 Threads 28 Polls 18,518 Posts
Yup...it's under my mattrass...you want my address?


rolling on the floor laughing


ghost007: so how are you guys reacting to this sit ..have any of you actually gone and withdrawn your life savings and tucked them under the matress at home!!!!!
Oct 7, 2008 12:18 PM CST A sign of the times.....
ghost007
ghost007ghost007swieqi, Majjistral Malta64 Threads 6 Polls 1,167 Posts
Lagoona22: Yup...it's under my mattrass...you want my address?


I have your adress and if i remember rightly you have no where to actually hide money in the sparce nuovo decor you have adopted!!! LOL......However this is a serious question ..I am curios t osee if any CS members have actually gone as far as retrieving their life savings???????????
Oct 7, 2008 1:14 PM CST A sign of the times.....
tinaferrara
tinaferraratinaferraraedinburgh, Lothian, Scotland UK17 Threads 278 Posts
no ghost,do you think we should
Oct 7, 2008 1:19 PM CST A sign of the times.....
ghost007
ghost007ghost007swieqi, Majjistral Malta64 Threads 6 Polls 1,167 Posts
tinaferrara: no ghost,do you think we should


I dont know I guess it in part depends on where your money is stashed away ..if its a key bank then i guess its safe ..though of course you never know for sure but then i guess there is no such thing as a sure thing...............
Oct 7, 2008 1:23 PM CST A sign of the times.....
foreveryoung1
foreveryoung1foreveryoung1cartagena, Murcia Spain4 Threads 1 Polls 4,094 Posts
ghost007: I dont know I guess it in part depends on where your money is stashed away ..if its a key bank then i guess its safe ..though of course you never know for sure but then i guess there is no such thing as a sure thing...............


check how much your govermsnt guarantees to repay you if your bank crashes.This varies from country to country.
Oct 7, 2008 1:24 PM CST A sign of the times.....
phoenix
phoenixphoenixparis, Ile-de-France France103 Threads 4 Polls 5,247 Posts
ghost007: I dont know I guess it in part depends on where your money is stashed away ..if its a key bank then i guess its safe ..though of course you never know for sure but then i guess there is no such thing as a sure thing...............


Split your saving's between Ireland, Germany and any other country that garanteess it....Today its a case of not putting all your eggs in one basket...
Oct 7, 2008 1:44 PM CST A sign of the times.....
jan45
jan45jan45Sofia, Sofia City Bulgaria12 Threads 7 Polls 615 Posts
phoenix: Split your saving's between Ireland, Germany and any other country that garanteess it....Today its a case of not putting all your eggs in one basket...

The EU countries should guarantee deposits until 50 000 EUR.Enough?professor
Oct 7, 2008 1:50 PM CST A sign of the times.....
ghost007
ghost007ghost007swieqi, Majjistral Malta64 Threads 6 Polls 1,167 Posts
thanks for all the feedback though to be honest i have heard nothing about government guaranting any banks in Malta wonder if any Maltese know anything on the subject
Oct 7, 2008 1:52 PM CST A sign of the times.....
phoenix
phoenixphoenixparis, Ile-de-France France103 Threads 4 Polls 5,247 Posts
jan45: The EU countries should guarantee deposits until 50 000 EUR.Enough?


Je suis daccord avec toi...mais..

It aint going to happen..split it..
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