Kaupthing Edge CHAPS Transfer

tykanator

THE_WORRIER wrote: »

I agree with your theory, the larger amounts - ie life savings, money from house sales etc would be put through on CHAPS but earning someone, somewhere a nice wod of interest.

At the moment I will just be glad to see my money - will think about chasing the interest at a later date when I have more energy - but at the moment - it is nearly £500 lost interest.

Really pleased for everyone that has got their money before the weekend, but it is a case of everything crossed that we get ours. Threads I have read say we definitely will, be in these troubled times I don't think there are definites - don't want to be a doom merchant but this time last week people could have said it was definite that money was save in a Bank!!

The first person that gets a CHAPS from Tuesday or Wednesday (I did both!!) let us all know.

Thanks again for everyone on this thread for keeping our spirits up.

The black bags under my eyes will need serious help when all this is over.

THE WORRIER - will change my name IF and WHEN this is over

Hey I'll keep you posted. I'm in the exact same position as you, and have lost 100s-1000s in interest on large amounts of money. Looks ok though, finegrs crossed. Good luck everyone :beer:

I personally think all the issues with the banking system etc is wishful thinking. We need to think bloody positive, and we will get out of this mess and it will all be short lived, in my opinion.

http://news.bbc.co.uk/1/hi/uk/7656051.stm this guy holds some valid points in my view. :T

popegregorythe9th

Just spoken with KE - again - regarding my 'missing' CHAPS payment of 30k, which has been in the ether since Tuesday 7th - all the usual assurances that my money is completely safe, although when I asked the rep where my money was, all I received was the convoluted script they are given to read from which states that their head office, where the people who know whats going on are, is closed for the weekend and that their Nat West clearing house is in possession of my money, who will be posting it to my linked account at some point in the future.

They are not taking advantage of the clearing system available to them this weekend, instead opting to move any further money no earlier than Monday, despite repeatedly telling me that they are doing everything possible to get my money to me as soon as possible.

They could not advise why they the missing sum was not credited back to my account until it was processed, despite their knowledge that it would not be moving anywhere.

I was offered a callback from a manager, which is seemingly the level at which KE employees are privy to actual information, at some point on Monday, despite repeatedly making the point that I wanted to speak with one today. Although there were managers present in their call centre, they were not available to speak with the concerned customers.

All in all, KE arent exactly making much of an effort to rectify this state of affairs or even to provide believable assurances.

I am pleased to hear that some folk are receiving their money, and that things are looking more positive. However, I for one will not be sitting back and relaxing this weekend - its hardly unthinkable that come Monday the landscape will have changed again and who knows what may impact KE or ING. And with my money in limbo, the potential trail for its recovery is looking a bit too vague for comfort.

tykanator

omnirife wrote: »

I want my money out because I need it shortly to buy a house. Bearing in mind that, for a while, it wasn't clear what was happening and I can't wait months to get it back and have to go through a form-filling mission. My trust in banks was already low and I am disturbed that people are surprised that this sort of thing can and will happen. The money you have worked for can disappear through noting more than rumour and innuendo. The banks are collapsing. The government is corrupt. We are sliding down the slope.

It will all go tits-up if you think like that. Be positive!!!! That's the universal truth - the law of attraction - the secret - think positive, we can get out of this fairly quickly if we try. Well I hope so anyway. The government and Gordon seem genuinely concerned and doing decisive action.

tykanator

EVERYONE BE MORE POSITIVE! :j

I've got 200k + lost in the CHAPs transfer system. But I'm picturing it going in my account next week. Its just money, digits - it will come good. Icesave is a different story - I'm not going to go there

tykanator

pikeanator123 wrote: »

EVERYONE BE MORE POSITIVE! :j

I've got 200k + lost in the CHAPs transfer system. But I'm picturing it going in my account next week. Its just money, digits - it will come good. Icesave is a different story - I'm not going to go there

Is there anyone that cares to join me in taking more of a positive attitude, albeit still concerned and realistic? I think the more positive thinking we can get, the easier it will get hopefully. Cheers

http://news.bbc.co.uk/1/hi/uk/7656051.stm this guy holds some valid points in my view.

dag_2

Some people have said that they have made more than one transaction, some of which have gone through but not all of them, but that the ones which have gone through weren't the first ones. In other words, it might look as though they're not processing the transactions in the order they received them.

However, my understanding is that KE was temporarily frozen between UK.gov declaring it insolvent, and KE savings being taken over by ING.

So if it's the case that they processed some of the transactions on Monday but not all of them, then perhaps those earliest transactions may have gone to APACS when the freeze was on, and will therefore bounce back. However, if there are any such bounced, then KE/ING probably haven't matched them all back to their original savings accounts yet.

As a result, although they know that some of the earlier transactions might not have gone through, they don't know which ones yet. Meanwhile, they carry on doing the rest of the backlog of transactions that they know for a fact haven't been done yet - the plan being that they want to get as many of the transactions through as possible in the shortest time, and only worry about the more complicated ones later on.

I don't know - I'm only guessing! But if it's true that they tried to put some of the transactions through during the temporary freeze, then that would explain why the transactions don't seem to be coming through in the order you requested them.

I do sincerely hope that there isn't a risk of them mismatching the bounced transactions back to the wrong account! This might be a problem if two people with the same name requested CHAPS transfers for the same amount on the same day, and one of them went through and the other one didn't. Mind you, if one CHAPS transfer didn't go through on a particular day, then, chances are, all the other transfers they tried to do shortly before or afterward would have also bounced. I very much doubt that APACS would have let some of them go through but not others.

If really necessary, they could phone you up and ask you if you've got your money yet - like they did with Debs 123. Really, really, don't be tempted to pretend that you haven't got your money if you know for a fact that you have. Because that would be fraud .... Then again, if they suspect you're up to something fishy, they might ask you to post in your bank statement to prove that you haven't got the money yet.

Like I say, I don't know, I'm only guessing. Point is, though, there could be plausible reasons for the things that seem to be strange about how they're doing it. So let's not worry about it. I'm sure they'll sort it all out in the end.

guitareth

I did a BACS transfer on my KE account Sunday 5/10 so was shown as taken on Monday 6/10/08. Expected it to appear by Wednesday so was bit worried, but it eventually came through to my bank account as a CHAPS transfer yesterday afternoon (10/10). I can only assume they've put some BACS transfers through as CHAPS to speed up the backlog. Have checked my KE account again and definitely haven't been charged for a CHAPS transaction, so am happy.

This may not help those who are desperately waiting for transfers, but will hopefully put people's mind at ease that the money is not in limbo - it's just taking a bit longer than usual to process. I feel confident about KE now it's with ING so have decided to leave rest of my balance in the KE account for now - as a run on the bank clearly won't help. Hope I don't end up regretting my decision, but at end of day you have to ask yourself which banks are safe now?!!

THE_WORRIER_3

pikeanator123 wrote: »

Is there anyone that cares to join me in taking more of a positive attitude, albeit still concerned and realistic? I think the more positive thinking we can get, the easier it will get hopefully. Cheers

http://news.bbc.co.uk/1/hi/uk/7656051.stm this guy holds some valid points in my view.

I'm up for positive thinking but before I start - just tell me - what is your theory on the large amounts seeming to not be coming through?? Or am I just being paranoid!!!!!

Any clues where you are going to put your £££ WHEN/IF it comes through????

behelzebub

pikeanator123 wrote: »

Is there anyone that cares to join me in taking more of a positive attitude, albeit still concerned and realistic? I think the more positive thinking we can get, the easier it will get hopefully. Cheers

http://news.bbc.co.uk/1/hi/uk/7656051.stm this guy holds some valid points in my view.

Like you and the worrier, I have a shed load in KE and Im being positive by simply waiting untill 06:00 monday as thats when the chaps systems starts for the day. I dont know but my guess is that KE/ING staff are clearing these over the w/e but they cannot be released untill 06:00 monday by the chaps system

Just a thought

behelzebub

THE WORRIER, I'll decide where to put my funds when I get them, first things first