24,000 Icesave savers not claiming back cash

Friday, 05 December 2008 03:59

As many as 24,000 Icesave customers have failed to claim their money back from when the Icelandic bank hit the wall.

The Financial Services Compensation Scheme (FSCS) - which is organizing the return of cash - has so far contacted all 214,713 savers and £3.2 billion has been returned, no matter how large accounts were.

However, 24,000 savers have not responded to emails from the FSCS - with savings estimated at around £350 million.

They now have until December 31st to transfer fund online - after then the FSCS will send out forms, but with the forms it takes six weeks for cash to be returned.
However, the onus is on customers to claim their cash.

"We will chase people, but it is up to the individual to complete the form," an FSCS spokesperson said.

"There is only so much chasing we can do."

She added there is a helpline - 0845 605 6050 - for anyone unsure about a claim.

There are also around 17,000 UK Icesave customers who were unable to claim compensation through the online process.

Approximately 16,000 of those have now been sent an application form.

Jonathan Clark, FSCS director of claims, said: "We are glad to have been able to help so many savers in such a short period of time.

"Those who have not yet claimed can do so by logging on to their Icesave accounts and following the instructions in the second email. The process only takes a few minutes and will avoid any further waiting or paperwork."

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