£4.5bn to Icesave customers says compensation fund


Over £4.5bn in compensation has been paid to almost 230,000 UK Icesave customers over the five years since the bank floundered in the financial crisis, reports the Telegraph.

On average, the 228,516 customers the Financial Services Compensation Scheme (FSCS) paid out to received £15,215,53, with payments ranging from more than £2m to just 1p. 36,687 payments were of less than £1,000.

The Icelandic bank went bankrupt back in October 2008, with the Financial Services Compensation Scheme guaranteeing repayments of up to £50,000 per account holder in 2010.