Frozen Ice

[gothick]

...of course, one of the bonuses of the web is that it allows you to easily put a large chunk of your savings into an Icelandic savings bank. A Icelandic bank which, ironically, has now had its UK assets frozen by our government, after it collapsed.

I think it could be a while before I get a large chunk of my savings back, if I'm lucky enough to get them back at all. And I was just about to draw out a chunk of money to use for share dealing in this nice volatile stock market we've got...

Meh.

Comments

[gothick-matt.livejournal.com]

Aaah, sucks even more when you're in the boat because you were being proactive about finding a good deal and good interface rather than just leaving it where it is.

One of the reasons I moved a chunk of my money to them was that I had a pile of money (more than the compensation limit) sitting in one single UK savings account. The move to Icesave was just part of me splitting that up and moving it into a variety of different places, including rock solid safe places, savings accounts, and the stock market (which I count as a very long-term investment; we'll see how well my fund managers have fared when all the dust settles...)

So, while I may have temporarily lost some money, it looks like it'll come back, albeit sans some interest I could have been earning, and that's mostly because I was pro-active about doing exactly the right thing to cover my arse. So I don't feel too bad about my decisions. It does still shake you a bit when what you thought was your second-safest investment suddenly disappears overnight, though.

But I'd now like to join up with the "not spending much on Christmas presents" club even more than I did yesterday :)

[kaveypie.livejournal.com]

I don't think you should feel bad at all... you're probably in a minority of less than a % or 2 of Brits who take the time to research options and then make the effort to do what seems to be sensible. This is just pure bad luck. OK go sign up on my presents thread, might encourage more others to also do same.