Kaupthing Edge CHAPS Transfer

Blonde

Can anyone advise why everyone is moving there money out of ING/Kaupthing is it because its not covered by the UK compensation scheme.

I would be suprised if the treasury would let ING take over if they were not sound i feel as im being scaredmungered in to moving the money from ING/Kaup

Where is everyone putting there money???

bigg

Blonde wrote: »

Can anyone advise why everyone is moving there money out of ING/Kaupthing is it because its not covered by the UK compensation scheme.

I would be suprised if the treasury would let ING take over if they were not sound i feel as im being scaredmungered in to moving the money from ING/Kaup

Where is everyone putting there money???

People started moving their money out last week when KE started to wobble. KE is covered by the FSCS but it could take 3 months to retrieve your money, so the quickest way was to do a CHAPS or BACS.

There will be nothing to stop you putting it back in, when the dust has settled.

Blonde

Its in a term deposit so there is no quick way for me to move it "just dont know what to do"

bigg

Blonde wrote: »

Its in a term deposit so there is no quick way for me to move it "just dont know what to do"

Can you see the money on your statement?

My money has disappeared from my KE account and has not appeared in my linked account, since last Tuesday. I was very worried, then less worried, now I am beginning to worry again and get very angry. I would be a lot happier to see some other people’s BACS or CHAPS trickle through.

poodlediva

Quote:
Originally Posted by zaphod beeblebrox
What part of this statement do you not understand ...

UPDATE: MONDAY 13TH OCTOBER 17:40

PAYMENT UPDATE

The ING Direct team are onsite working with both the Administrators and Kaupthing Edge, and our top priority remains addressing the backlog of payments as quickly as possible, whilst ensuring they are correctly processed.

ING Direct understands how concerned our new customers are and would like to reassure them once again that their money is safe, and we are working hard to return service to normal.

The good news is payments are continuing to be made, and we can also confirm that we will compensate for any loss of interest because of the delay. We are committed to keeping you fully up to date with our progress.

The bit that says ‘The good news is payments are continuing to be made’. Which payments to who?

It’s just stock piffle, to keep the sheep happy, while they hang on to our spondulicks a bit longer.
If a few people reported here that their money is appearing, I would be a lot happier.

Here here! It's just BS as they AREN'T continuing to make payments. Nobody on this forum has had a penny since Friday. It doesn't add up.

Blonde

bigg wrote: »

Can you see the money on your statement?

My money has disappeared from my KE account and has not appeared in my linked account, since last Tuesday. I was very worried, then less worried, now I am beginning to worry again and get very angry. I would be a lot happier to see some other people’s BACS or CHAPS trickle through.

I can see my money in my fixed term deposit Acc which is situated below the standard linked savings account but it gives me no option to cancel & transfer my money in to the standard linked account then in turn i could bacs or chaps it to my everyday normal current account, it looks like ING have there own compensation scheme which covers an amount of £77,000 so i dont know if the uk come in to it now

fudgie1980_2

How hard can it be for ING to put the following information out:

"When we took over KE on 8 October 2008 there were [NUMBER] BACS transactions and [NUMBER] CHAPS transactions outstanding. To date we have successfully processed [NUMBER] BACS transactions and [NUMBER] CHAPS transactions. [We are processing transactions in order of [DATE/AMOUNT/ACC NUMBER/ALPHABETICALLY]] OR [We are processing transactions in no particular order] and expect the backlog to be cleared by [DATE]."

This information MUST be relatively straightforward to obtain. All we want it to be informed and treated like grown-ups who have more than one brain cell. Fobbing us off with "honestly, trust us, we're working as hard as we can" is quite pathetic.

But what can we do, eh?

pickle123

fudgie1980 wrote: »

How hard can it be for ING to put the following information out:

"When we took over KE on 8 October 2008 there were [NUMBER] BACS transactions and [NUMBER] CHAPS transactions outstanding. To date we have successfully processed [NUMBER] BACS transactions and [NUMBER] CHAPS transactions. [We are processing transactions in order of [DATE/AMOUNT/ACC NUMBER/ALPHABETICALLY]] OR [We are processing transactions in no particular order] and expect the backlog to be cleared by [DATE]."

This information MUST be relatively straightforward to obtain. All we want it to be informed and treated like grown-ups who have more than one brain cell. Fobbing us off with "honestly, trust us, we're working as hard as we can" is quite pathetic.

But what can we do, eh?

EXACTLY!!!

Celt08

Here, here! I really doubt they'll commit to anything though... :mad:

bigg

This is a golden opportunity for the banks to win our confidence back. It’s time to stop treating us like mushrooms, fed with Bull***t and kept in the dark. If it’s going to take 2 weeks to sort the backlog out, fine, let us know and we’ll give it 2 weeks before we panic but keeping us hanging on does not encourage us to bank with them and to say payments are still being made, when they aren’t, is simply not true. Have they never heard of forums, we’re not isolated sheep any more.

Time for another group hug. :grouphug: