Like investors with any UK bank, Icesave customers receive full deposit protection of up to £35,000 (£70,000 for joint customers). This deposit protection is provided by the Icelandic compensation scheme and topped up from the UK financial compensation scheme. Contrary to some reports, in the extremely unlikely event of a claim ever needing to be made there is unlikely to be any delay in compensation payment being made compared to
a UK-only scheme.

On February 15, 2008 Landsbankinn’s Mark Sismey-Durrant sent this letter to his colleguaes and staff. It was designed to counter claims that IceSave might be built on shaky foundations. Thanks to Helga Vala who today posts the letter on her blog.

You can also find the letter here

staff_letter_150208_-_final.PDF

Related posts:

1. Channel 4, March 2008: How Safe Are Your Savings?
2. A Letter to Graham Brady: Gordon Brown Lied To You
3. The Icesave dispute: Priorities and division of claims
4. IceSave Sparks Protests
5. Preferred customers