Kaupthing Edge CHAPS Transfer

Financial_Novice_2 · 7 October 2008 at 8:31PM

mswannabe wrote: »

Have you seen the important announcements on log in screen. Here's the link https://www.kaupthingedge.com/UKLogin

Based on this information, I reckon that my £19k savings are just as safe left with Kaupthing as they are with any other bank. They are a UK bank, UK regulated and all our money is held here in the UK not in Iceland. Up to £50k of your money is guaranteed under Financial Services Compensation Scheme same any UK bank.

Yeah I know this but what has this to do with the OPs question about a CHAPS transfer. He has clearly stated that he has decided to withdraw his money irrespective of the KE statements and FSA guarantees. His perogative. I personally still have a considerable amount (for me) in KE and will be leaving it there.

mswannabe_2 · 7 October 2008 at 8:53PM

Financial_Novice wrote: »

Yeah I know this but what has this to do with the OPs question about a CHAPS transfer. He has clearly stated that he has decided to withdraw his money irrespective of the KE statements and FSA guarantees. His perogative. I personally still have a considerable amount (for me) in KE and will be leaving it there.

Point taken, but was merely trying to point out the important announcements on KE website incase Op wasn't aware of them.

jbanks · 7 October 2008 at 9:09PM

Appreciate MSWannabe's comments, from my point of view (partner in Icesave mess for a few grand) it was just a case of hoping not to have to go through the potential hassle of claiming through FSCS - even though the 50k guarantee is there for KE customers.

I also read the KE notices and would expect nothing less from the CEO, but then he wouldn't say anything different would he? Having read the Icesave threads on here there's a lot going on in the Icelandic economy and again even though the KE 50k guarantee is there its a hassle I hope to avoid (although of course hope that KE and all other financial institutions survive this - for the customer moreso than the institution's sake!)

phoebe03cat · 7 October 2008 at 9:14PM

Did you also notice that the box you have to tick each time(that you agree to the t&c's) has gone. Wondering what has happened to the 'novation' clause that was in it which was the main reason I emptied my account.

Jonbvn · 7 October 2008 at 9:20PM

phoebe03cat wrote: »

Did you also notice that the box you have to tick each time(that you agree to the t&c's) has gone. Wondering what has happened to the 'novation' clause that was in it which was the main reason I emptied my account.

The box you refer to only appears when your cookie expires, or you delete your cookies.

However, don't let the facts get in the way of your hysteria;)

pmorrison_2 · 7 October 2008 at 9:21PM

Hi, I have seen the notice on the front page of Kaupthings website and fully understand that they are fully covered by the FSCS. However, as I now have £10k in limbo with Icesave, I dont fancy the same happening with Kaupthing. Theres going to be a lot of this happening from UK customers, if there was £4bn in Icesave from UK investors there must be similar in Kaupthing, how will the bank cope if even 20% was withdrawn in one day?

We can be fairly sure that the UK government will save any UK bank, but from Icesave its fairly clear that the Icelandic government is happy to let its banks fall (I may be speaking too soon, obviously) therefore Id feel far happier with it being in a UK bank

Dealmad · 7 October 2008 at 9:24PM

I rang KE early this morning , as i have a fixed term account , but i want to cancel and have my money returned.

He kept putting me off from withdrawing , i said im not intrested and please just do it , he said he will do the BACS and it will got to my bank account

Well the money is still showing in my KE account , is this right , Surely it shoudl be £0.0 now if they actioned a transfer.

Yes i wished i had paid the £20 chaps fee now but i wasnt thinking about it at the time i was more worried about spending almost an hour trying to get through on the phone.

If the money is still showing in my account can i ring them in the morning & ask it to be transfered by CHAPS.

pennineman · 7 October 2008 at 9:29PM

I set up a CHAPS withdrawal last night and the money was in my linked account by early this evening. Now just have to decide where is safe to put it. . .

mswannabe_2 · 7 October 2008 at 9:43PM

pmorrison wrote: »

Hi, I have seen the notice on the front page of Kaupthings website and fully understand that they are fully covered by the FSCS. However, as I now have £10k in limbo with Icesave, I dont fancy the same happening with Kaupthing. Theres going to be a lot of this happening from UK customers, if there was £4bn in Icesave from UK investors there must be similar in Kaupthing, how will the bank cope if even 20% was withdrawn in one day?

We can be fairly sure that the UK government will save any UK bank, but from Icesave its fairly clear that the Icelandic government is happy to let its banks fall (I may be speaking too soon, obviously) therefore Id feel far happier with it being in a UK bank

Hi, so sorry to hear of yours and everyone else's misfortune with Icesave accounts. I can understand your caution regarding your KE account and would probably react in the same, trouble is where is your money safe these days. The worlds banking system is in utter chaos and god only knows which if any banks are 'safe'. I only hope that the Financial Services Compensation Scheme does what it says on the tin, and protects UK savers from severe financial losses, but I guess only time will tell

monkey1234_2 · 7 October 2008 at 11:07PM

I sent a chaps withdrawal payment this morning at 9am from Kaupthing still has not arrived!!
Has anyone else heard of such a problem ? My understanding is that it should arrive the same day ?

Kaupthing Edge CHAPS Transfer

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