Kaupthing Edge CHAPS Transfer

coolio_2

brydlesmansteve wrote: »

Money is flowing. Everyone CHILL!!!!!!!!!!!!

Can you point to your source as I haven't seen any evidence of money flowing since Friday

poodlediva

Money is NOT flowing. There is no reason why chaps payments should not have continued on Saturday and Monday. I only read of a couple of people who received funds yesterday and these were BACS, not CHAPS and were sent last week. Nothing was released by CHAPS on Saturday or Monday and that is unacceptable unless they can offer a very good explanation, which they haven't.

I urge EVERYBODY to PLEASE go to www.writetothem.com This is a very easy way to write to your local MP. You enter your postcode and they find your MPs details for you and give you a simple form to fill. Let's put the pressure on here. (this site is a free service)

I have just sent this letter to Steve Pound, my local MP

Dear Stephen Pound,

I am one of the many thousand unfortunate savers who have money tied up in Kaupthing bank at the moment. Like thousands of others, I attempted to remove my life savings (£33.5k) from my kaupthing account by telegraphic transfer last Tuesday, just before they went into liquidation and the savings funds were passed over to ING. After the take over we were all told (eventually) that ING had our savings and that they were completely safe. However, many thousands of us have been contacting online forums as those who had made transfers shortly before the takeover had seen their online balances reduced to nil but the money never being transferred to the requested external account. There were several days of panic as chaps payments which should have arrived on the same day they were sent had just disappeared into the ether.

Eventually, ING made a statement promising to honour these withdrawals and promising to clear the backlog as soon as possible. Finally, on Friday people started to receive their funds. It seemed to work in chronological order. First of all people who had transferred on 3 October, then 4th, 5th and finally 6th October. By the close of business on Friday most people who had made transfers up to 6th October seemed to have received their lost funds. That left many thousand more, like myself who had made transfers on Tuesday 7th October or beyond. We assumed they were working in order and that payments would contuinue throughout Saturday and Monday. Had they continued to work at the rate payments were being issued on Friday of last week then all payments should have been through by now.

I was very disappointed to discover that no money was issued on Saturday 11th October, and then extremely alarmed to not receive my funds yesterday. Furthermore there are thousands more like me. If you visit one of the many online forums that have been set up by anxious savers you will see that there are thousands in my position whose money has literally become lost in the system. The official ING / Kaupthing line is that they are systematically working their way through the backlog. This is clearly not the case as no payments have been received by customers for nearly 4 days now. One thread on the moneysaving expert site has some 92,000 hits from anxious savers who have lost their funds.

I am completely devastated by this. My life savings have disappeared and nobody within ING can offer an explanation. The labour government offered a 50k guarantee on this account before the events of last week. This is the only reason I invested with this bank. I thought I was safe. I had no idea that my savings would be sold off to a third party without my consultation, resulting in them disappearing into the ether. Online calculations reveal that there are 10s of millions tied up in 'the ether' as I write and ING have simply stopped releasing funds. Equally alarming, they have also stopped releasing any accurate information and call centre staff have no idea why the funds are no longer being released. Presumably they are also earning a very nice sum of interest on this which we will never see as the funds do not appear in any of our accounts. I am desparate. Please please can you do all in your power to help me and the other savers who have lost their life savings.

ps2659

Is it not possible to to have 2 threads one negative and one positive to save having to read all the doom and gloom, just choose the pos or neg thread.

brydlesmansteve

TypeR wrote: »

The point is the transactions clearly aren't happening, I don't give a !!!!!! about the guarantees I want the money back in MY bank account, not with ING direct.

'Chilling' is not something I have the faintest interest in, I want my money back - and eight days is already 4 days too long for my request to be taken care of.

I havent seen my money for 12 days!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

A large organisation has been taken over by another large organisation so time is going to pass before the structures and processes are put in place to ensure that "normal service" resumes.

THIS is a lot better than the alternative. A claim under the FSCS could take months! You are crying over 4 extra days!

I have already said that I have been told that ING have guaranteed ALL transactions. With any transaction there is a paper trail, if the money does not land into your account and they have it down as being paid ING can trace, recall and reprocess the payment.

Please keep the faith!

brydlesmansteve

poodlediva wrote: »

Money is NOT flowing. There is no reason why chaps payments should not have continued on Saturday and Monday. I only read of a couple of people who received funds yesterday and these were BACS, not CHAPS and were sent last week. Nothing was released by CHAPS on Saturday or Monday and that is unacceptable unless they can offer a very good explanation, which they haven't.

I urge EVERYBODY to PLEASE go to www.writetothem.com This is a very easy way to write to your local MP. You enter your postcode and they find your MPs details for you and give you a simple form to fill. Let's put the pressure on here. (this site is a free service)

I have just sent this letter to Steve Pound, my local MP

Dear Stephen Pound,

I am one of the many thousand unfortunate savers who have money tied up in Kaupthing bank at the moment. Like thousands of others, I attempted to remove my life savings (£33.5k) from my kaupthing account by telegraphic transfer last Tuesday, just before they went into liquidation and the savings funds were passed over to ING. After the take over we were all told (eventually) that ING had our savings and that they were completely safe. However, many thousands of us have been contacting online forums as those who had made transfers shortly before the takeover had seen their online balances reduced to nil but the money never being transferred to the requested external account. There were several days of panic as chaps payments which should have arrived on the same day they were sent had just disappeared into the ether.

Eventually, ING made a statement promising to honour these withdrawals and promising to clear the backlog as soon as possible. Finally, on Friday people started to receive their funds. It seemed to work in chronological order. First of all people who had transferred on 3 October, then 4th, 5th and finally 6th October. By the close of business on Friday most people who had made transfers up to 6th October seemed to have received their lost funds. That left many thousand more, like myself who had made transfers on Tuesday 7th October or beyond. We assumed they were working in order and that payments would contuinue throughout Saturday and Monday. Had they continued to work at the rate payments were being issued on Friday of last week then all payments should have been through by now.

I was very disappointed to discover that no money was issued on Saturday 11th October, and then extremely alarmed to not receive my funds yesterday. Furthermore there are thousands more like me. If you visit one of the many online forums that have been set up by anxious savers you will see that there are thousands in my position whose money has literally become lost in the system. The official ING / Kaupthing line is that they are systematically working their way through the backlog. This is clearly not the case as no payments have been received by customers for nearly 4 days now. One thread on the moneysaving expert site has some 92,000 hits from anxious savers who have lost their funds.

I am completely devastated by this. My life savings have disappeared and nobody within ING can offer an explanation. The labour government offered a 50k guarantee on this account before the events of last week. This is the only reason I invested with this bank. I thought I was safe. I had no idea that my savings would be sold off to a third party without my consultation, resulting in them disappearing into the ether. Online calculations reveal that there are 10s of millions tied up in 'the ether' as I write and ING have simply stopped releasing funds. Equally alarming, they have also stopped releasing any accurate information and call centre staff have no idea why the funds are no longer being released. Presumably they are also earning a very nice sum of interest on this which we will never see as the funds do not appear in any of our accounts. I am desparate. Please please can you do all in your power to help me and the other savers who have lost their life savings.

Steve Pound will not be able to do anything!

Your life savings are not lost! ING have guaranteed all transactions!

zaphod_beeblebrox_2

Posted on another thread this morning ......



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My transfer received this morning. Initiated Monday 6th

djrobe

Just spoke to KE helpdesk 08451 313234 as not got my dosh this am. They said they dont know how payments are being processed or prioritised as this is being done by ING and they cannot communicate between each other. She couldn't guarantee either whether we would get the payment before the weekend but said it was totally guaranteed and we would get it eventually. She did confirm though that if the payment was requested by BACS it would be received by BACS. That means if files were submitted yesterday and today, payments will come through Thursday / Friday. Looks like it could be a long wait so hang on in there. Please post if you get the money today!

northern5

djrobe wrote: »

Just spoke to KE helpdesk 08451 313234 as not got my dosh this am. They said they dont know how payments are being processed or prioritised as this is being done by ING and they cannot communicate between each other. She couldn't guarantee either whether we would get the payment before the weekend but said it was totally guaranteed and we would get it eventually. She did confirm though that if the payment was requested by BACS it would be received by BACS. That means if files were submitted yesterday and today, payments will come through Thursday / Friday. Looks like it could be a long wait so hang on in there. Please post if you get the money today!

Well if KE have gone bust and ING are processing all the payments, what are they doing there... sounds like you've been fed more pork pie.

Checked mine and still no money!!

To all those who keep saying whats a few extra days, the FSCS would take months..... No one has asked when we're getting our icesave money, cause we've had communication, its the KE/ING silence thats !!!!ing us off!

hellyboo_2

Martins on LK now!

shabba_shabba

just checked my account and no money
what a surprise