Icesave savers are still unable to withdraw their cash after the internet bank’s parent company was put into receivership by the Icelandic government. About 300,000 UK savers have spent a day unable to access their cash and face a nervous overnight wait to see if they must go to compensation schemes for their savings to be returned. Although a Landsbanki spokesperson said: ‘The bank is still operational and is in receivership. It has not gone bankrupt and so no ‘compensation’
arrangements are triggered.’
Meanwhile, the Icelandic government has guaranteed all its citizens’ savings 100%, but the guarantee does not extend to UK savers and people logging on to Icesave’s website were greeted with a message telling them that the group was not currently processing any deposits or any withdrawal requests on its internet accounts.
