kaupthing edge - transferred money?

doctorscooby

I have been trying to get through to kaupthing edge on phone and just getting engaged tone - presume they have set this up deliberately to deflect/avoid calls?

Removed practically all my money yesterday evening by BACS so gone from account but not showing in linked account.

Does anybody know what happens if it goes bust in interim (i would like to have confidence of other people on this site but this must surely be a self-fulfilling prophecy now icesave has gone down)? I wont lose this money because it is in the ether will i?

nzseries1

There are many, many, many threads already on the subject. Please read these:

Icesave - will withdrawals still go through: http://forums.moneysavingexpert.com/showthread.html?t=1204071

Kaupthing Edge engaged:
http://forums.moneysavingexpert.com/showthread.html?t=1203353

MadSage

It's engaged because everyone is in a panic.

occamsrazor

doctorscooby wrote: »

I have been trying to get through to kaupthing edge on phone and just getting engaged tone - presume they have set this up deliberately to deflect/avoid calls?

Removed practically all my money yesterday evening by BACS so gone from account but not showing in linked account.

Does anybody know what happens if it goes bust in interim (i would like to have confidence of other people on this site but this must surely be a self-fulfilling prophecy now icesave has gone down)? I wont lose this money because it is in the ether will i?

I would imagine the phones are engaged because there's 1000s of people like you calling them up, rather than anything deliberate.
As for the BACS it can take up to 3 days, so the fact that it hasn't arrived in your linked account means nothing.

doctorscooby

re: above,

i know this - i am asking re: what happens if bank goes down in less than 3 days!

thrupence

doctorscooby wrote: »

I have been trying to get through to kaupthing edge on phone and just getting engaged tone - presume they have set this up deliberately to deflect/avoid calls?

Removed practically all my money yesterday evening by BACS so gone from account but not showing in linked account.

Does anybody know what happens if it goes bust in interim (i would like to have confidence of other people on this site but this must surely be a self-fulfilling prophecy now icesave has gone down)? I wont lose this money because it is in the ether will i?

Kaupthing is in a different position to Icesave. Kaupthing is just like a UK bank for the purposes of the £50,000 guarantee. Icesave wasn't.

doctorscooby

has anybody spoken to kaupthing and know if they are still processing BACS/CHAPS?

ray123

But nobody wants to have the hassle of jumping through hoops to get THEIR money back or lose interest on it. This compensation scheme should work in theory, but in reality I am sure there will be numerous problems and it will take at least three months to come through.

For someone with 40k in their account, they could be losing £500+ interest....

BilboBaggins_3

doctorscooby wrote: »

re: above,

i know this - i am asking re: what happens if bank goes down in less than 3 days!

You are protected by the government up to 35k/50k if it is a UK subsidiary. If it was an offshore then you are protected by up to 15k I think.

mikeymo_3

doctorscooby wrote: »

has anybody spoken to kaupthing and know if they are still processing BACS/CHAPS?

A large CHAPS transfer that I initiated yesterday afternoon (probably after the 2pm deadline) went through today at around midday.

nzseries1

doctorscooby wrote: »

has anybody spoken to kaupthing and know if they are still processing BACS/CHAPS?

Why would they not be?