Online savings frozen in Iceland
Updated on 07 October 2008
British savers may have to use compensation schemes to claim back money from the bank Icesave.
The savings of hundreds of thousands of British customers are at risk as the internet bank Icesave has frozen all its accounts.
The Iceland government, which is close to bankruptcy itself, was forced to acquire Icesave's parent bank to save it from collapse.
Now British savers have been warned they will have to claim back their money from compensation schemes, and they are worried they will not be fully protected.
