I sent a CHAPS of 6K from my icesave yesterday. The CHAPS is supposed to take 1 day. In the icesave account it now looks as if the money has left and they charged 30£ for the transfer(they label it as processed), however the money never arrived to my UK account. It'll be fun to have that back...

Magrino, London,

My daughter has just started university and has her ISA's with Icesave. How does she fund herself now?!
Paul Mason, Southwick, West Sussex

Go out and get a job like students used to! I used to work every evening and every day during term breaks, funded myself completely. Stop whinging, pathetic!

James, London, UK

Is Iceland stealing UK savers cash? The Icelandic government spokesman says that Landsbanki ATM's and banks will be "open as normal" IN ICELAND, meanwhile in the UK they have frozen access to money in Icesave accounts. Is that to be able to pay out the Icelanders as normal?

JPW, Aylesbury,

With an Icesave Bond that has yet to mature, what is the likelihood that the accrued interest will be taken into account, if and when the deposit guarantee reimbursement kicks in?
The same question would also apply to any Easy Access account in which interest is applied on a yearly basis.
Any ideas?

Dan, Bournemouth, UK

I have 50K in Icesave , or did have! I attempted to transfer it via CHAPS last night to my RBS account . It accepted the transfer but as to now the funds have not arrived. Perhaps I should have caught a flight to Iceland and withdrew it as cash like the Icelanders have,no need we are all in the EU!

Grant Payne, Burton on Trent, UK

ICI savers are the same people that said the government should not support Nrock and the northeast savers-greedy share holders. Instead you wanted the rock to go under - in the same way you have decided to invest out side the traditional british banks and now you all cry for help. Karma

Andy, Newcastle, uk

As an Indian live and work in the UK, I keep no more than £5,000 in my current account and £2,000 in my Online Saver account of HSBC. I transfer monthly savings to my NRI bank account of an Indian bank in India, where I get 10% for a 12 months fixed deposit. NO INDIAN BANK GONE BUST in this crisis.

Uma Shankar, UK,

Nobody should have more than 30k in one bank. Spread it out.

Nobody has "done a runner". Your savings are lent back out to the credit markets. Where do you think the interest comes from?

Read wikipedias article on Fractional reserve banking.

Ppl are leaving it v late to start learning economics

Andrew, Leeds,

This an an excellent opportunity to see exactly what happens when all that political talk turns into real action.

Decisive, swift and confident decisions to fully compensate all savers?

Anything else would be 'switch bank account' panic like you've never seen it!

Keith, Beverley, UK

A government guarantee is only as good as the funds held or available to the government - ie. Iceland has been going broke for some time so their ability to meet savers' guarantees is up for question. If the government is unable to pay the guarantee is itself worthless.

Gordon, London,

I am a hardworking & honest tax payer. I need this money to support my family. This is my life saving with Icesave. I rushed to withraw money last night, and I did. This morning (Teusday) as Icesave said no withdrawels my account shows it is processed ...will I get it ? where is the help from UK gov

Sam, Dronfield, UK

My life savings are/were in Landsbanki Guernsey. I can't find anything out about this except it is in the hands of receivers and there is no protection.

Has anyone any advice?

Chas, Crowthorne, England

IT LOOKS LIKE I HAVE LOST £250,000. WE HAVE BEEN SUCKED IN! THEY HAVE FALSLY OFFERED THE HIGHEST RATES AVAILABLE KNOWINGLY THEY WERE IN A WEAK POSITION. I HAVE BEEB CONNED! This bank was recommended by my financial advicer, any ideas were i stand?

Ste Durkin, bolton, UKL

What about the savers with more than £50,000? The Uk govt were not prepared to let BandB or Northern Rock savers lose out.Icesave is authorised by Uk authorities with Uk citizens deposits.Why will the Uk govt not protect us?
What about everything to neccesary to protect us?

Matthew, Yorkshire,

I have got 16 grand caught up in Icesave (although fortunately I got more out beforehand). So that means I now own 16 grand worth of Iceland. For that I would accept a nice mountain or a trawler full of cod.

Mayzie, London, UK

Iceland has guaranteed all depositors savings in Iceland and the Bank remains open for business in Iceland. Are they using British savers money to do this? The PM has repeatedly said that he will do whatever it takes to protect depositors.
Well now he has an opportunity to fulfil his promise.

Jim, Belfast, Northern Ireland

Well Prime Minister you now have an opportunity to fulfill your promise to do whatever it takes in whatever way to protect British depositors

Jim, Belfast, Northern Ireland

Your story is misleading. Deposit holders are protected via Passport Scheme and Financial Services Compensation Scheme (FSCS) up to maximum of £50,000 as from today (7th Oct). The FSCS website makes it clear that preparations are being made for compensatino claims.

MM, Liverpool,

When do we start claiming compensation? My daughter has just started university and has her ISA's with Icesave. How does she fund herself now?!

Paul Mason, Southwick, West Sussex

…and how does this financial stir change the standing of insurers such as Lloyd's of London?

Johan Guss, Kalmar,

Russia has just lent Iceland 4 billion Euros. So your money are safe!

Paul Schmidt, Oslo, Norway

Great .. So a Bank Allowed to freely operate in the u.k has taken my significant savings & done a runner ???

Andy cooper, Oxford,

Normally I wouldn't panic, but I saved up my money with Icesave for building work that is now in progress. I have to pay the builders at the end of the month. What am I to do?

Jane, Worcs, UK

Why should the British Taxpayer through the FSA guarantee foreign banking accounts?

steve tea, manchester, cheshire

Where did the money disappear? At least West Ham got a few new players last year with very high salaries...

jack, southampton,

To Gary ... Iceland is not a member of the EU.

bernard, luxembourg, luxembourg

You will get £15,000 from the Icelandic Government and £35,000 from the FSA in the UK. Obviously you will get the £35,000 quicker that's all. Whichever way it's done your £50,000 is guaranteed.

george, london,

What is my position re savings with Icesave? I have a 6 month fixed interest account with them, due out in February 09. Since it seems that Icesave will not be able to honour its contract with me, will I be entitled to apply for compensation as soon as it is available?

Pete, Chard, UK

My wife is an icesave customer. I suggest everyone reads up on the FSCS site. In the event of a default by landsbanki they will write to us and handle our claims, dealing with the Iceland authorities. The gov't / fsa are doing their job. All this panic talk does not help anyone ....

Matt, Didcot,

I am a good citizen. I pay taxes and saved and lived frugally. As all the best advice said, I put it into a bond just before retiring. It was in Icesave. So I now have, if I am lucky, enough from a lifetime for a £2k pension. I am telling my kids to run up debt and have a good time.

Simon Mallatratt, Broadway, UK

It is suggested that we Icesave savers, may be eligible for compensation partly from the Icelandic FSA and the balance up to £35k from the UK FSA. Why only may be? Where is the definitive UK FSA statement to reassure us ?

mike, wokingham,

Hang on a minute......on the one hand they say the first £50k of deposits are fully protected.....then on the other they say the first £16k or so is now protected under Icelandic rules and there may be difficulties getting the money back.....this is saying the deposits are not protected....

Ian Morley, Manchester,

All this banking crisis shows is that the EU is a waste of time it is meant to be all for one but no it's all look after our own people first the UK government after this crisis should put out of the EU and get all our money back as we need it ourselves

Gary, hornchurch, england

I feel sick to the stomach. My life savings are with Icesave...I am a decent, hardworking person who, like thousands of others, are currently finding they cannot access THEIR money.
'That's why mum's go to Iceland?' Er, I don't think so Kerry Katona.

Lizzie, London, UK

Rupert - moving your money to Ireland is all very well, but there's a real possibility that the Irish government would not actually have the funds to meet any shortfall if the worst happened to a large bank. Being part of the Euro, it's funds are restricted. Spread it over the UK banks!

Kelly, Edinburgh,

Wrong - panic stricken savers moving their money to a safe havens wil exacerpate the situation further. That said the Government must take steps immediately to halt the uncertainty rather than protecting their own corner.

Elizabeth Carbery, Heswall, England

Here we are with many thousands of small savers with savings in IceSave who have been lulled into thinking that their money is safe. Where is the UK Government and FSA on this? They are very happy to bale out the bankers who caused this crisis but not the small saver. It stinks.

Nigel, Chichester,

So it's now Russia that comes to the help. So the most powerful nation, America has gone bust.Where has our money gone?
£250 million private yachts, fleets of private jets, £110 million stuffed damien Hurst animals.You are watching the biggest fraud in history and there are no criminals. Apparantley

rob, ashbourne, uk

Why is there nothing about this on the Icesave Netherlands website? (icesave.nl).

Peter, Suffolk,

What's the point of moving money into Ireland and causing even more grief for the UK system. Ireland CANNOT AFFORD to guarantee all the deposits if everyone does that - imaging Ireland trying to guarantee all the deposits in Europe? Not going to happen is it? We all need to STOP PANICKING!

Roger, London, UK

My advice. Follow what the rich are doing and get your cash out of UK banks. With the Irish you get 100% guarantee and a better savings rate. Its a shame our Goverment our making our bankers fight with one hand tied behind their banks but why take the risk? Myabe when enough has gone Gov will act

Rupert, London, UK