How much have we lost

  • Anonymous
  • unspecified
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Posted: Fri, 10/10/2008 - 02:14

So we can get a better idea of how much money in involved, please state how much you had with Kaupthing Singer & Friedlander when they collapsed. This is give us (and any interested authorities) an idea of how much we are talking about.

It does not have to be an exact figure, but as near as you are willing to state online. Perhaps best not to state the exact true amount for security reasons.

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Fixed Deposits for One Year!!!

  • librasaver
  • 12/10/08 n/a (free)
  • a depositor
  • Offline
  • Sat, 08/11/2008 - 19:33

My Wife and I had separate accounts as we had diiferent heirs, but a combined total
after 38 years frugal living and diligent saving of £400 000, intended for the purchase of a flat in Scotland, and the balance to provide a pension for living expenses. The fixed deposits were for one year, and we were halfway through when this happened. We have worked in Africa since 1970, and saving this , including some small inheritances, is all we have. We followed the standard advice for expatriates and now.............. Anger does not adequately describe our feelings.

A Big THANK YOU to the organisers of this site.The moral support it has provided is invaluable!!!


GBP 118K Not Lost

  • Valentine
  • 18/10/08 31/05/14
  • a depositor
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  • Fri, 07/11/2008 - 02:08

I haven't posted on here before now as I don't regard our money as being lost. It's just gone missing for a few weeks. I have GPB118K - previously with Derbyshire - put there because of the downright awkwardness of Barclays in the UK. I still have an account with them but it's been rendered "dormant". I was another one who, when KSF took us over, thought that Kaupthing was perhaps Swedish or German - safe as houses, I thought !!!


Lost about US$250,000. My

  • Skiffer
  • 07/11/08 31/05/09
  • a depositor
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  • Fri, 07/11/2008 - 00:46

Lost about US$250,000. My wife passed away in 2004 so I decided to sell my house and move to the US with the intention of buying over here. Fat chance now ..... especially living in Southern California. At least it's sunny.


eggs in one basket

  • yer
  • 06/11/08 31/08/09
  • a depositor
  • Offline
  • Thu, 06/11/2008 - 04:08

Just over 100K, Divorced sale and savings.
Been Non-resident a while, same as many others unable to open UK a/c.
Thanks to all for supporting us.
Lets hope all turns out positive.


How much have we lost?

  • october
  • 20/10/08 31/12/09
  • a depositor
  • Offline
  • Sat, 01/11/2008 - 18:53

140k GBP. Proceeds from selling house after divorce as substitute for a share of my ex-husbands pension. Deposited with 'local' offshore bank, The Derbyshire, last year while I work abroad. How is it that several others were also originally under the impression that KSF were German?
Not many years to make this up. Thanks to all the work being done by by the team, I hope I'll be able to retire as planned in a few years.


We thought we played it safe

  • Anonymous
  • Offline
  • Fri, 31/10/2008 - 13:41

We took all our money out of equity in February, and felt smug when the markets went down after that. Then we found Kaupthing Edge, and put our money away safe until times would be better and we could go into equity again. Ha ha! All gone now. GBP 60,000.
You do become philosophical, you have to. We're healthy, we've got jobs. What else matters? Still a total bummer.


Playing it safe

  • Martin H
  • 12/10/08 31/05/09
  • a depositor
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  • Fri, 31/10/2008 - 13:58

Snap! I was looking to spread my risks as I had too much with the Halifax at the time it was shorted!
However fair's fair I was attracted by the 7.15% as well and signed up for three years.
Interesting though and I apologise for pointing it out if you have lost the lot, I have not been resident in UK for over 15 years and I can still take out Halifax ONSHORE Guaranteed Reserve as can any non-resident, just look it up. 6%.
I am HUGELY grateful to the teams and I do not doubt the final victory!


£22,000 lost!

  • wheenie
  • 24/10/08 31/05/09
  • unspecified
  • Offline
  • Fri, 24/10/2008 - 19:29

I've lost £22,000.
I did have almost £200,000 in my Derbyshire Offshore / KSF account in June 08 but after reading an article on the Times website I moved most of my money away from KSF. Greedily I kept £20k in my KSF as the interest rate was so good. I recently recieved a statement from KSF and decided that the interest on my money could keep me in beer on a beach in Thailand or Philippines, how wrong.

I'm just glad I'm only 37 and have a job still in Saudi Arabia. I just hope HSBC Offshore doesn't go tits up!

The UK government has a lot of the blame to carry, why can't UK citizens have UK bank accounts whilst they are living overseas and saving hard for the future? I will be using my parents address and will open as many bank accounts as possible when I'm in the UK over Xmas.

I wish I'd bought a flash car rather than saving!!!


beaches

  • Anonymous
  • Offline
  • Wed, 29/10/2008 - 10:08

What's up with the Saudi beaches, then?


Who's a lucky boy! Seriously,

  • go mann
  • 10/10/08 31/05/09
  • a depositor
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  • Fri, 24/10/2008 - 19:57

Who's a lucky boy!

Seriously, you'll be OK. You'll get the money eventually, and you weren't "greedy" ... you looked at the rates, and the options, and made a choice. And you have a job, and a future. And you can buy that flash car, and the 5 litre bucket of hair gel ;-)

I'm only down £11k, and I'll get that back as well. But being retired, my money is all I'll ever have, and I thank God I'm not in the position of some of the people here whose lives are TOTALLY dismantled.

We'll get there ... I've just been talking to "The Man in Man", and we are NOT going to lose out. Politicians will posture, but eventually it WILL be sorted. I believe ... I hope that rubs off on a few who are in much higher stress than you or me.


IOM Depositors Protection Scheme

  • GBSPAIN
  • 19/10/08 31/05/09
  • a depositor
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  • Sun, 19/10/2008 - 13:29

Can someone on this website confirm that we definitely have the protection of the IOM DPS. I understand this to be 50k per depositor. I got this website from the Mail OS and cannot see any mention of this subject.

I have 40k in the bank in joint names and like most others opened this account because a) I am expat in Spain so had to go offshore and b) I was over exposed at another bank. So much for trying to be safe!!!


IOM DCS

  • cold-dose
  • 11/10/08 31/05/09
  • unspecified
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  • Sun, 19/10/2008 - 22:15

If a normal, individual, depositor - yes. But the payments may take several years to complete due to the way the system works (capped annual instalments from the other banks on the Island).

If you hold a bond, a company account, a charity account etc. then the current status is 'no', but this may be changed next week.


The previous reply is

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Sun, 19/10/2008 - 22:22

The previous reply is unfortunately correct to say you should assume it may take many years to pay out under the IOM DCS.
We are all here hoping it doesn't come to that.
For what it's worth, it is per depositor so joint accounts are covered up to £100k.
Cold-Dose - an interesting point - Would joint-account holders effectively get the money back twice as fast, because every time there is a payout each would receive?


Joint account holders

  • cold-dose
  • 11/10/08 31/05/09
  • unspecified
  • Offline
  • Sun, 19/10/2008 - 22:26

Yes, you'd get two sets of payments each time - although it'd take as long to get the £100k as it would take a single account holder to get their £50k.

It's not just limited to two people - an account in multiple names, despite being a very rare thing, would cover each person for £50k.


Depressed

  • Phil07
  • 15/10/08 31/05/09
  • unspecified
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  • Sun, 19/10/2008 - 11:02

Firstly, I would like to thank everyone involved in trying to resolve this sorry situation.

My losses amount to over £80,000 which is my retirement nest egg.

I have no words to express my fear and anger.


Can it be measured

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Sun, 19/10/2008 - 06:53
  • loss of sleep
  • loss of faith
  • loss of get up and go
  • loss of time

This all equals loss of savings.- GBP 75,000 on my last statement which will forever haunt me.


loss

  • Mugged
  • 17/10/08 31/05/09
  • unspecified
  • Offline
  • Sat, 18/10/2008 - 21:20

My loss 25k


How much have we lost

  • koulanic
  • 18/10/08 31/05/09
  • a depositor
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  • Sat, 18/10/2008 - 20:51

We lost just under £300,000. Our life savings and the proceeds from the sale of our business due to health reasons. As a retired couple we were depending on this money to finance our future.


Amount Lost

  • Yogi
  • 18/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 18/10/2008 - 14:32

Hi Everyone,
We have/had £66k + interest in KE IOM. We are UK citizens and tax payers. We were planning to emigrate to Spain but that now may not happen!! We too are sickened,sleepless and greatly upset, not yet hit angry or able to fight back even though we know the clock is ticking. We haven’t been able to tell family or friends, it’s as though we did something wrong (we know we didn’t).
We recognize that we are a lot more fortunate than many others, we may stand to lose our savings and our future but we have our home and our jobs. Some of our fellow sufferers’ stories are completely heartbreaking. Our thoughts and good wishes are with them (and all of us) hopefully there will be a happy ending for all of us.
Thank you to all the pro-active members, all your efforts are much appreciated.
Yogi.


How much have we lost?

  • Flower
  • 18/10/08 31/05/09
  • a depositor
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  • Sat, 18/10/2008 - 14:14

£360k. Unbelievably painful. Have to get back to work but we're retirement age so where can we possibly work? So much for saving for one's retirement!


Sums involved

  • jandy
  • 18/10/08 31/05/09
  • unspecified
  • Offline
  • Sat, 18/10/2008 - 05:07

About 123k -- included in this is my Dad's inheritance.


£59K

  • sabdel200
  • 17/10/08 31/05/09
  • unspecified
  • Offline
  • Fri, 17/10/2008 - 23:34

Lost not as much as others on the site, and I know how much it hurts. It makes me sick how the British Government can turn a blind eye without batting an eyelid. Its a disgrace.

I flew last Wednesday to the IOM, and was given 101 excuses and persuaded not to take the money out; not that it would have made a difference considering transfers did not get out. I feel hurt that I was lied to so blatantly.

I cannot finish my house now. All the walls have been gutted to the brick, and requires complete plaster and finish. My great grandfather fought for this country in the first world war, and was awarded the VC in France. If only it was left to me, I would send it back to Gordon brown in protest. DOUBLE STANDARDS.


£91.500 GBP FIXED Term Account 1YR

  • Anonymous
  • Offline
  • Fri, 17/10/2008 - 16:37

From the Sale of my House, post Divorce split, 1 dependent, Community Nurse JUST RETIRED through Ill health, Homeless Now!....No future!! No Help! Feel so Alone...thought I was doing the right thing investing...
In TOTAL Dispair....IS THERE ANY HOPE WE WILL GET OUR MONIES BACK?????????????
:0(


At Risk £100K plus

  • annie.g
  • 16/10/08 02/09/18
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 22:30

This money was an inheritance from my mother and was deposited in KSF IOM in $US about the 22 Sept 08. The idea was that it would remain in $US until the exchange rate was favourable. However on 06 October I exchanged to sterling and on the 07 October requested a CHAPS transfer to my UK bank. Like so many others it never arrived and is "frozen" in the KSF UK London bank.

I lost my job in 2006 through ill-health, and the generosity of my mother was my future. I will continue to remain optimistic until such time as I am told that the money is lost.


No access to £13K

  • Shiney
  • 13/10/08 n/a (free)
  • a depositor
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  • Thu, 16/10/2008 - 21:47

We permanently live (and have always done so) in the UK and held our savings in US Dollars within the bank. We declared the interest paid to us to IR every year on our tax return.

We are retired people and while the above amount is small in comparison to some amounts shown on this website it represents years of hard earned savings to us.

We hope for all our sakes that the money will be returned to it's rightful owners!


Almost £200,000 at risk

  • Stuart
  • 11/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 19:01

My wife and I started saving with the Derbyshire in 2002. We did spread the risk with other deposit takers, but in hindsight not enough. £200,000 represents a major chunk of our self-funded pension pot saved over the past 40 years. Being a couple of years away from retirement we now have to reassess our plans for returning home to UK from the Middle East.
The last 18 months have been a big test of nerves - we had funds with Northern Rock and Alliance & Leicester offshore - and considered ourselves lucky that depositors survived with funds intact. I guess it was only a matter of time before we got hit by one of them.
At least now, thanks to the concerted efforts of this action group, there are indications that all may not be lost. I would also like to contribute to a fund to finance the guys doing the leg work and running this site.
I pray for those in really dire straights that there will be some good news for them soon.
Stuart


Amounts Lost

  • Anonymous
  • Offline
  • Thu, 16/10/2008 - 18:02

I've lost £303k which was my retirement fund.

AB


Tactical withdraw of savings from IOM

  • worriedsaver
  • 10/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 14:46

Although I now stand to possibly lose most of my very hard earned life savings I luckily unlike some others on here do still have some remaining accounts in the IOM . I have today requested that these be substantially reduced ( not completely withdrawn) and returned to the mainland to the only account I have there that pays NO interest . I have also incurred withdrawal penalties in doing so . I have informed each bank that the reason for this is the lack of reassurance that savers in KSF(IOM) have so far received regarding our savings and the islands failure to introduce a 100% savings guarantee scheme . My intention is not to be part of a "run"on the banks but hopefully this will send a loud message , if as I suspect others are doing the same , to the MANX authorities that they need to pull their finger out and act quickly to protect us before the Isle of Man's reputation is permanently damaged as an offshore banking centre .


Tactical withdrawal of savings from IOM

  • Anonymous
  • Offline
  • Thu, 16/10/2008 - 19:15

Don't worry worriedsaver you are doing the right thing and I admire you transfer for safety to NO interest. I can't believe there are still comments on this forum where people are asking where they can get good interest rates. Please look at yourselves and the situation.


I have carried out a similar

  • Done like a Kipper
  • 10/10/08 n/a (free)
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 14:56

I have carried out a similar operation today with other IOM financial institutions in which I have deposits. I have made it quite clear why I am taking this course of action.


Me ... £52,000 Wife ... £6,000

  • alanmail
  • 16/10/08 31/10/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 14:32

With £25,000 suspended somewhere between Douglas and Hammersmith!


Deposit account funds - pending transaction

  • mike-r
  • 16/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 14:15

500K US Dollars
although some of it was supposed being transferred via SWIFT to UK bank on the Monday/Tuesday.....but as they say "never happened"....despite a confirmation phonecall.


Fitt - money involved

  • Sophie
  • 16/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 09:17

My wife and I had about £120,000 mainly in a 'current' account (£13,000 ish) and a the rest in a savings account. There were also bits and pieces in Euros and $'s.

We have just returned from South africa and the bulk of the money was to contribute towards the purchase of a small flat to live in here. The rest to live on. So I now have to bring my small amount of Rands back - at a terrible rate of exchange which will involve yet more loss.

Even if some of the KS&F money does trickle back over time it does not help us now.

Finally I have no exact record of how much KS&F held of my money. Because we lived in RSA they would not send us a statement 'for security reasons'. And I was stupid enough not to print of my latest statement of accounts before the website closed. I hope that some one has the amounts on record.

Jim Fitt


No idea how much we've lost...

  • Justa
  • 17/10/08 31/05/09
  • a depositor
  • Offline
  • Fri, 17/10/2008 - 03:03

Jim, we are South Africans in Thailand and used the KSFIOM for all of our offshore savings. We are in the same position as you are with regard to statements etc. and have no idea how much we have lost or stand to lose. Do you know if there is a phone number one can call to check?


Statements

  • cold-dose
  • 11/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 12:21

Jim, the bank still has all the records. Apparently KSF(IOM) are due to send statements out shortly, but in any event the Liquidator Provisionally will know how much you are owed.


Statments

  • Alex
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 13:48

I've sent an e-mail last Monday to KSF (IoM) and they sent me the statements including the up to date interests.


losses

  • Anonymous
  • Offline
  • Thu, 16/10/2008 - 07:53

£73,000


Losses

  • Brian Livesey
  • 16/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 07:16

my loss is 12K


How Much Have We Lost contd

  • Shalva
  • 12/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 05:36

Adding to all your stories out there, my wife and I have lost our life savings of 180,000... this was for our children's college fees and a down payment on a house.


money lost

  • young widow
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 14:28

I have £117,000 invested following the death of my husband last year. I have three children and this was money for us to live on.


£300,000

  • Atol
  • 12/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 16/10/2008 - 01:50

14 years with Derbyshire BS. Less than 1 year with KSF!


I think 'at risk' is a more

  • rallison
  • 12/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 00:11

I think 'at risk' is a more appropriate expression than 'lost'. I don't want to admit to myself (yet) that I have 'lost' my life savings!Somehow, deep inside, I don't think that any developed capitalist economy can afford to allow ordinary people to simply lose money from a major bank like this. No-one would ever use banks again! Or maybe I am naive.

Once again, many thanks for this site, and if a request is made to contribute to expenses I'm in.


loss & action taken

  • banna
  • 15/10/08 01/03/10
  • a depositor
  • Offline
  • Wed, 15/10/2008 - 23:27

My 87 year old Ma & I have our life savings of over £600k at risk. Have so far done 2 local radio interviews, a spot on BBC South today, and appeared in YouandYours BBC4, and have offered to do other interviews. Also got an article in the national press. Have written to everybody in Iceland and UK Government. This flurry is necessary but the trick will be to keep it up for long enough to make the UK & Iceland Govts know we're not going to be quiet until they do the necessary. But this will not be enough in itself. The real pressure points are the UK and Icelandic Govts: the first has to understand that they created part of the problem and then treated us unjustly and the other has to understand that when they took over Kaupthing hf they took on its obligations - one of which was the 100% guarantee to us. When they understand that we'll get our money.
Good luck to all and thanks to those who are taking positive actions.


Loss and action

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 16/10/2008 - 04:35

I am here in Western Canada and I feel very useless - its great to hear there are people going to media like yourselves.
Every time I try to write a letter baby cries and when its time to call the time difference is against me.
Anyway thanks for working on our behalf - I would contribute to any expenses for folks who have really put themselves out


Pressure points

  • uptight61
  • 14/10/08 n/a (free)
  • a depositor
  • Offline
  • Wed, 15/10/2008 - 23:36

Very succinctly put


Pressure points

  • uptight61
  • 14/10/08 n/a (free)
  • a depositor
  • Offline
  • Wed, 15/10/2008 - 23:57

Which is why the British Government (now acting on behalf of the Isle of Man Government) together with the Icelandic Government can now come up with a face-saving resolution. The best way would be a "loan" made by the UK Government to the Icelandic Authorities for the specific purpose of paying off the IofM depositors. The Isle of Man would be spared its safe offshore reputation, the Icelandic Government could say they have kept their promise to Kaupthing Isle of Man depositors and the British Government could also say that no British citizens have lost any money as a consequence of the credit crisis plus state that their bungled takeover of Kaupthing UK and Isle of Man did not cause any long term damage to UK depositors. Whether this loan would ever be paid off is a matter for debate - perhaps when the IMF gets involved the Great British public will eventually get their money back.


This is a very good idea

  • codhelpus
  • 13/10/08 31/05/09
  • unspecified
  • Offline
  • Sat, 18/10/2008 - 01:45

Can people start putting this idea across during their variouls media encounters asap.
This is definitely a viable wayout for all of the governments and their politics.

uptight61 - do you want to post this on some of the other forums so its pickes up on. It could work


Kaupthing IoM

  • springbok
  • 15/10/08 31/05/09
  • unspecified
  • Offline
  • Wed, 15/10/2008 - 17:00

The Isle of Man Financial Supervision Commission will compensate depositirs with £50000 each if I understand it correctly. Presumably we should be putting our claims into them now. By 24 October they will start repayments I believe. Is that correct?


No claims yet

  • osprey
  • 15/10/08 31/05/09
  • unspecified
  • Offline
  • Wed, 15/10/2008 - 17:43

No, the bank is still operating but under a liquidator provisional. There will be a decision on October 24 whether to "wind up" (=liquidate?) the bank. The depostior compensation scheme will not start running until that happens. Which may be good, since it seems that they will apply the limit that is valid at the point when it is "wound up". And by then the Tynwald will have finally passed the £50.000 limit it seems.

The liquidator will send out claim forms to everyone on record.


Tynwald HAS already passed

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Wed, 15/10/2008 - 17:47

Tynwald HAS already passed the new limit:

http://www.gov.im/fsc/investor/dep_comp.xml

"This page has been revised to reflect the Compensation of Depositors Regulations 2008 which were approved by Tynwald and came into operation on 9th October 2008."