FSCS updates Icesave customers

Following the Government's move to guarantee 100pc of retail deposits in failed Icelandic bank Icesave, the compensation scheme announced an accelerated electronic process, set to benefit upwards of 200,000 savers. Icesave customers will receive their monies through incremental electronic payments into their linked accounts. FSCS will write to retail depositors explaining how the process will work and will then contact customers again with instructions on how to finish the transfer. Loretta Minghella, chief executive of the FSCS, commented: "We recognise that Icesave's customers have b...