New Kaupthing CHAPS/BACS Transfers discussion - Friday 24th October

The previous Kaupthing Edge Chaps Transfers thread's been closed (its too long for the servers and the sitution's changed). This is a continuation.

VERY IMPORTANT UPDATE - 13 November 5pm

After a bit of back and forth with ING, we have managed to arrange something that i dearly dearly hope will finish off the last outstanding transfers; a dedicated team looking after MSE Kaupthingers.

ING have agreed to the following:

[FONT=&quot]If you are still having trouble with your Kaupthing Edge payment then phone 08451 31 32 34 and ask to speak to the MSE Helpline. This is being manned by senior staff that will urgently review your case and follow it through and keep you updated until payment is made.[/FONT]

So basically, call up and ask for the MSE Helpline. We have been told - and will chase up to make sure this happens - that a member of staff will take on your case and provide you with regular updates on your specific case.

So please please please do this, and also we need to get this message to all Kaupthingers that are still waiting for cash but amybe arent monitoring this thread.

All feedback on how this system goes is very welcome - fingers crossed it works

Dan


Latest Update 7.30 pm Fri 24 October

The ING spokesperson has just posted the following

" can confirm, as promised, that the backlog of over 42,000 transactions have been paid out. Our customer telephone line has received 142 calls today from customers who had not received payments and each case is being investigated with the clearing and receiving bank.

The phones lines on 08451 31 32 34 will be open over the weekend - Saturday 8am to 2pm and Sunday 10am to 4pm where staff will again be on hand to collect details of any further payments that have not been received so that we can investigate with the receiving banks on Monday.

We appreciate how frustrating it must be to be in the less than 0.5% of cases where payments are currently not showing in individuals' accounts and we will be working with the respective banks to resolve this. "
______________________________________


Hi guys,

Today is the day that ING has said the final bunch of payments should start to be appearing in people's destination accounts. I have started this new thread and poll to make it easier to keep track of the people who are left to receive their cash. There is also a new statement from ING, which I have reproduced below. However, the most exciting aspect is a dedicated customer services telephone line for anyone still waiting for money to call, it's 0845 131 32 34.

Here is the full statement from 11am today


I have asked Dan for permission to post once more and I am pleased to confirm that all the Kaupthing Edge payments requested on or before Monday 20th October have been despatched and should by now be showing in destination accounts. Inevitably, there will be a small number of transactions that do not go through smoothly. We are finding this can be for a variety of reasons such as some banks not accepting CHAPS payments or incorrect destination account information. To deal with these we have set up a process for the call centre staff to capture your information and transaction details so that your individual case can be investigated. The number to use is 0845 131 32 34 and I just tried it myself and it answered within two rings. Below is the update we have posted on the Kaupthing Edge website and as you will see we are now focussing on refunding CHAP fees and the loss of interest due to payment delays.
Please keep checking the Kaupthing Edge website for updates and we expect to be able to announce in the next few days everything is working normally.
Many thanks for your patience while we have worked to resolve these issues
Latest Kaupthing Website Message
Backlog of Withdrawal Payments:
We are pleased to confirm that the backlog of external payments requested on or before Monday 20th October has now been cleared.
These payments have been sent out and have started appearing in destination bank accounts.
If you have any further queries on payments that were requested on or before Monday 20th October, please contact our Customer Service team on 08451 31 32 34.
Withdrawals from Tuesday 21st October:
BACS transactions are being processed within normal timescales and will be credited within 3 working days.
We are currently unable to process CHAPS payments within the normal timescale (i.e. same day or next day) and these requests will take 3 days. Please use the BACS service until further notice so that no fee is incurred.
Interest adjustment and refund of CHAPS fees:
ING Direct will refund the loss of interest on your Kaupthing Edge account that resulted from payment delays. CHAPS fees will also be refunded in cases where the payment was not sent within the normal timescale. An update will be posted on this page next week, giving further information and an update on timings.
Payments In
Not all payments in are being processed normally. We are continuing to work to resolve this and will issue an update as soon as possible.
Fixed Term Product Accounts:
Customers with deposits in a Fixed Term Savings accounts can be assured that these rates will be honoured by ING Direct for the remaining term of the accounts
Thank you for you patience, and once again we apologise for any inconvenience and distress that payment delays have caused.
More news from ING Group
ING’s position as a strong and healthy bank has been boosted by the Dutch Government. It is making a €10 billion investment in ING and comes at a time when Governments all over the world are taking steps to support their major banks. This means ING is now an even stronger company for you to have your savings with.

The Basics


The internet savings bank Kaupthing Edge was transferred, via the government, a fortnight ago from its Icelandic parent bank Kaupthing to Dutch bank ING Direct.

In the days prior to the transfer, due to the fears over Icelandic banks many people activated BACS (normal bank transfers) or CHAPS (supposedly instant/same day) transfers from Kaupthing Edge, to withdraw their money.
In a large number of cases while the money left the account it didn't arrive anywhere. This thread is here to help and discuss people getting their money back.
  • Full Safe Savings Info: (inc any statements from ING) Safe Savings Guide
Please feel free to add any further currently relevant info to the discussion below


Former MSE team member

What was the result of your Chaps/Bacs last minute payment from Kaupthing Edge 312 votes

The payment was fine
13% 41 votes
The payment was lost but has now been paid
41% 131 votes
The money is still lost in the system
43% 135 votes
The money is still lost but I've spoken to ING and have been told whats happening with it
1% 5 votes
«134567322

Comments

  • Haider
    Haider Posts: 67
    First Post First Anniversary Combo Breaker
    Forumite
    I think we will need this very shortly:
    HER MAJESTY'S COURT SERVICE, MONEY CLAIM ONLINE
  • Copied from the other thread:

    Just rang the helpline. They've put a chase on my account to find out what's happened with my transfer and will ring me back within 24-48 hours (not including weekend). If my money does turn up I have to ring them back and let them know.
  • soulsaver
    soulsaver Posts: 5,877
    Name Dropper First Anniversary First Post
    Forumite
    KE still managing the media then 'Fixed Term Bonds KE will continue to honour interest rates' Fine, that is the nature of fixed term bonds.
    But where is the cash for those people that have closed the bonds and KE can't or won't tell them when their cash will be made available? Come on folks - let's not let them off the hook so readily please..
  • kja509
    kja509 Posts: 11 Forumite
    This is just a joke ING spokesperson

    my money has not arrived from the 8th - my bank DOES accept CHAPS transfers and KE definitely have the right account details so there is no reason at all why my money should not have arrived.

    Your call centre number clearly is of no help (see Neonoptic above and Ippylady)

    SORT THIS OUT
  • This is agonising......like watching paint dry
    2 accounts:-
    1/ BACS requested 7th -left KE 8th - funds received Fri 17th
    2/ CHAPS requested 7th - left KE 8th - funds received Thurs 30th Oct.
    CHAPS fees returned 27.10.08

    STAYING HERE TO HELP AND SUPPORT
  • Remember the poll at the top of the page folks ;-)
    Non illigitamus carborundum!!
  • Hi guys,

    I've spoken to ING about the reported issue with the helpline, and they seem very confident that ippylady's problem was a one-off.

    However, please let us know if you call up and the operator doesnt know anything about this issue - it is supposed to be a dedicated line for that - and I will follow up further.

    Fingers really crossed that today is the day for everyone left waiting

    Dan
    Former MSE team member
  • catbaloo
    catbaloo Posts: 140 Forumite
    Just popping on to let you all know that I'm here watching and wishing you all luck, will stay quiet now untill it's time to celebrate..x
  • bigg
    bigg Posts: 654
    First Post First Anniversary Combo Breaker
    Forumite
    Come on ING, let’s see that little trickle, just before the flood gates burst. :confused:
  • TypeR
    TypeR Posts: 117 Forumite
    Good luck, I really do hope this misery ends for everyone today.
This discussion has been closed.
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