Icesave Online Savings Reviews

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Icesave Online Savings
3.2 stars
Average rating for this product is: 3.2 out of 5

From 8 ratings and 36 reviews

Thumb up 67% of users recommend this product

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
ING DirectING Direct ISAOpen an account today in approximately 10 minutes. A simple way to save up to £3,600, without paying tax on your investment.Monthly2.50%N/A
NatWeste-ISAAvailable to existing Natwest Customers Only. The longer you save the more you can earn, save up to £3,600 in a tax year. See site for details.Monthly2.50%N/A
AbbeyDirect ISASave from just £1 to receive 2.00 AER (variable) tax free.Annually2.00%N/A

Average Ratings for Icesave Online Savings

  • Value for Money3.4 stars
  • Reviewer Ratings3.1 stars
  • Overall Rating3.2 stars

36 Reviews For Icesave Online Savings

  • wusadmei 16th Oct 2008

    Reviewer rating: 0 stars


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    Good Points: At the moment ...None


    Bad Points: Took deposits, then closed down withdrawals and declared that they could not pay back any money.


    General comments: On Sat before closure I made a withdrawal from IceSave online bank, on the monday showed as processed and my balance reduced, on Tuesday, the Icelandic government closed withdrawals from Ice Save bank, by friday I still had no money transferred and they had pulled the money back to icesave.

  • Guest 24th Sep 2008

    Reviewer rating: 4.5 stars


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    Icesave is a good savings bank. Easy access web site. Movement of money from and to accounts easy. Good rates of interest which others follow.
    Good financila results for half year and no exposure to US sub prime market.

  • Irene Haule 20th Aug 2008

    Reviewer rating: 5 stars


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    Having done my research into the Best Savings Accounts on the current market - Icesave stood out for me. A high interest rate of 6.30% until 2011 and a rate GUARANTEE (to at least match base rate until 2013!) no notice period for withdrawals - no penalties. Very quick and easy to set up my easy access savings account - did it in about 15mins during my lunch break. Paperwork came through within the week. User friendly website - no jargon - so far the product is living up to its claims. Have no ...

  • Guest 16th Aug 2008

    Reviewer rating: 4.5 stars


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    Never had any problems setting up a isa, or easy access savinings account or a fixed rate savings account, and there website is easy to log in and access other areas.

  • Guest 23rd Jul 2008

    Reviewer rating: 5 stars


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    Simple to set up fixed term IceSave savings account, money appeared in the account on the expected day. Customer Services polite and helpful, and were able to sort me out quickly when I lost my PIN.

  • jackie1alex46 9th Jul 2008

    Reviewer rating: 3.5 stars


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    I opened an ISA with Icesave a couple of months ago and was impressed with the user friendly website and prompt efficient welcome pack.
    I also opened a high intersted savings account with Kaupthing but again am slightly concerned to see so much negative press about all Icelandic financial institutions.
    Is my money safe here or should I look at moving accounts?

  • i4abargin 3rd Jul 2008

    Reviewer rating: 4.5 stars


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    I have held my accounts with Icesave Online for 2 years in Nov 08, had no problems, site always works, have never found it down. Interest rates have always been good and have been getting better. Monies have always moved in and out as I've requested and on the correct days.

  • fdifranco 1st Jul 2008

    Reviewer rating: 0 stars


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    I opened a easy access account and 4 fixed term bonds during the last 6 months. I put my saving gradually in my easy access account and then trnafer to the more convenient 6 month bond. At the beginning they pay interest in my easy access account, at some point no.
    I asked the reasons and the customer centre answer in 1000 different reasons. I asked to talk to the manager but it is always not available. I sent 2 letter. No reply.
    Now I am sending a complain to Financial Ombudsman Service. ...

  • JudyG 23rd Jun 2008

    Reviewer rating: 0 stars


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    My whole experience of trying to open a 6 month fixed rate saving account with Icesave has been a nightmare. I started the process online on 20 May, it is now 23 June and the account has still not been opened! I have lost interest on monies that are sitting in a personal account waiting for the account to be opened. Other onlines accounts took only days to open. From my experience this company is a complete shambles and I no longer wish to invest my money with them.

  • clark 3 14th May 2008

    Reviewer rating: 0.5 stars


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    Having just tried to set up an icesave account for the fourth time and yet again have it time out on me (even though I have answered every page as quickly as anyone), it is fair to say that I disappointed by Icesave. Great rates no doubt but if you can't open an account with them then it's pretty useless, and it does make you wonder, if they're this hopeless at opening accounts just how awful must the admin be once you've got one?
    I certainly wouldn't like to be attempting to close an account wi ...

  • marnied 4th May 2008

    Reviewer rating: 5 stars


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    I have returned to open an isa with icesave and think my money is as safe here as anywhere. All my previous dealings with this bank were also trouble free.

  • Eduardo1 27th Apr 2008

    Reviewer rating: 5 stars


    On average, people found this review very helpful
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    I have read much about this bank in both the Press and on the Internet. I have various acconts with different bank as I believe in finding consisently good rates. I was initially concerned at some reports that ICE Bank had problems due to the financial instablility in Iceland. After researching this myself I can find no evidence to support these claims and in my view there is a lot of innaccurate and 'scaremongering reports' about a number of foreign banks Everyone has to make their own decision ...

  • westcountryboy 22nd Apr 2008

    Reviewer rating: 1.5 stars


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    I opened an account with Icesave on line on 2nd April. I then rang them to find out how to get money into the account. I was told about the various methods, BACS, CHAPS, cheque etc but nothing was said about what I should use considering how close I was to the end of the tax year. There was also nothing on the web site.I chose to set up a direct debit from my current account as this was the cheapest method. I then finished the online process and applied for an ISA for 2007/9.
    Sure enough a few ...

  • Olitom 20th Apr 2008

    Reviewer rating: 4 stars


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    I was attracted to Icesave due to the higher interest rate and also as a recommendation from a friend. So far have no regrets.

  • Guest 20th Apr 2008

    Reviewer rating: 4.5 stars


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    With the big UK banks or smaller branch banks you normally receive less interest rates & in some cases need to pay an annual fee on some accounts. You also need to be careful of the small print as interest rates/perks quoted are often not what they seem - also watch out for the sometime gradual fall in rates that occasionally happen one you have placed your money with a bank - Which? has a good table of organizations that give consistent high rates of interest. You do however receive an army of ...

  • bin 11th Apr 2008

    Reviewer rating: 5 stars


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    Heres What ICESAVE says about herself:

    Being young, and one of the most high profile savings providers in the UK, we are asked our fair share of questions about who we are and whether we provide a safe home for UK savers.

    Being a provider that prides itself on being transparent we thought we'd give you the full picture about our parent bank, Landsbanki, so you can make your mind up for yourself. Landsbanki is:



    A well-established bank
    We were founded in 1886 and have been operating in the UK ...

  • dinah 11th Apr 2008

    Reviewer rating: 5 stars


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    I found Icesave an easy site to look through, and have had no problems opening or managing my account.

  • Guest 10th Apr 2008

    Reviewer rating: 4.5 stars


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    I have been using Icesave for a relatively short time (3 months) but in this time their communication and paperwork have been excellent.

    I had looked at ICICI initially but trying to set an account up with them was terrible

  • draffyduck 26th Mar 2008

    Reviewer rating: 0 stars


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    Icesave - I have been trying to open a basic cash ISA with Icesave since 2nd. February this year before the April 5th deadline. Despite completing the relevant on-line form and subsequently numerous reminder emails to them and despite their automated responses - NOTHING.
    Poor communications and a very, very poor service, in my honest opinion.
    Imagine trying to get a response from them after successfully opening an account!!!!

  • KT21 24th Mar 2008

    Reviewer rating: 0 stars


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    I have no real experience of Icesave because try as I might I could not apply to open an ISA. I am not stupid or especially slow but the online application form timed out on me three times. The first time I presume I spent too long thinking of my password (?!). The second I have no clue and the third I had to open a new window to find out what a CHAPS was. After that, the thought of starting all over again did not appeal and I gave up. Since the end of the year was fast approaching I was a ...