Kaupthing Edge CHAPS Transfer

Celt08

I just hope I'll get the money tomorrow - this is a nightmare - I need my hard earned savings asap to pay for a build. These are worrying times

EalingSaver

Following email sent to head of corporate communications at ING. OK, so there are some 'Eats, Shoots, and Leaves' issues in there, but hell.

Dear Martin,

You are probably the wrong person to send this to, however yours was the best email contact I could find off the website. And as head of Corporate Communications you at least will have the right contacts, and may well be the right person anyway - since this is a at least a company communication issue.

There are a lot of Kaupthing Edge customers out there that initiated transfers from their KE accounts in the run up to it keeling over, and who have those transactions debited from their KE accounts but failing to show up at the appropriate destination. Many customers of KE were probably also customers of IceSave. So they are both particularly nervous/twitchy, and in many cases have other money 'locked up' in deepfreeze (no pun intended). For reassurance they could do with simply more transparency, and in order to plan their finances at a difficult time they could do with some more hard facts.

Since this - and ING Direct - are internet accounts, most of those customers are internet savvy. They frankly feel that they are getting more information by sharing stuff between themselves on forums than they feel they are getting from ING. There are forum boards virtually dedicated to tracking 'who transferred when, has it appeared yet, transfers dried up on Monday, was it BACS or CHAPS?'.

There are many for whom a sense of relief that, having come to this, at least a new 'home' for their deposits were found, compared with IceSave, is now turning into a feeling of "where is the REAL communication". In general the responses people are getting from call centre staff are viewed as platitudes. Not surprising - they probably don't know either. And the web posted stuff is not giving any real reassurances/certainties.

I'm sure the value to ING of taking on the KE depositers is entirely a 'good will' one i.e. ING hopes that a significant proportion of former KE depositers will stay with ING in the future. If that is to be the case, then some clearer communication would be in INGs interest, as well as the ex-KE depositers caught in this position. Otherwise there is a real risk that those customers caught up in this problem will have less trust in ING than they could, and will head for the door as soon as they can.

What people are really looking for is some more definitive information, that is more reassurring than what are viewed as 'soothing statements'. As one person put it:

>>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.<<

Squibbler

I still don't believe they should have been sitting on our money like that. I requested the transfer on 7th pre-noon and they went under 2pm on the 8th, well over 24 hours later. Why didn't they put our BACS transfers through on 7th when they seemed to be able to plaster overly exaggerated reassuring messages on their website at this time. My transfer is shown on their system as being processed on 7th too. I wonder if they knew they were in trouble and deliberately held onto our money?

Celt08

I feel the same way, if they could not meet their BACS obligations then why let us transfer the money from the account? It's now nearly a week (Tues am) since I asked for the money, and they haven't even sent an email apologizing/explaining.

dutch123

Ealing Saver - don't know how to post a 'thank you' on the site - but loved your email - hope that it generates as detailed response tomorrow.

Still not heard anything about my money (CHAPS wed am) b4 things were taken over....

fingers crossed for tomorrow !

fleurie12

schoolrunmum wrote: »

Just emailed Panorama!!!

Panorama is doing a programme to be transmitted on Thursday on this very subject. I am being interviewed by them tomorrow as I too did a Bacs transfer on Tuesday and no money as yet. (I worked at the Beeb until I had an accident in Jan and can no longer work - my investment is what I live on)

Squibbler

Dutch - you click on the thanks button at the bottom of the post

dutch123

whoops - couldn't see it for looking!

fleurie12

phased wrote: »

Disappointed that there has been no update from Martin since 6pm Thursday.
Not even reporting the favourable flow of money transfers from ING on Friday, nor the ING statements made since . . .
An informed rational statement at this time would be helpful ~ as was the case with the updates last Wednesday & Thursday.
The silence adds to my worries and I would feel happier if I knew that he was active alongside us. Evidence of this would make me sleep better. Is he contactable ?
:money:

From past experience in the media he is in this for the money and glory and when his reputation is under threat he hides!

MoneySaverROI

Like many, I can't help feeling they are sitting on our money and making some serious interest. Requested chaps last Tuesday AM and still waiting...patiently...