Kaupthing Edge CHAPS Transfer

greigster

I have not said it was Martins fault I have said that I am disappointed in his lack of help, when a man in his position should be doing more to help us. We were all very happy with our new TV stars debut, They have done more to highlight our problem than Martin has. I just think Martin could do more to help us.
Greigster

TypeR

brydlesmansteve wrote: »

Fair enough, I accept that.

I am missing some REAL money too. We have been told that our money is safe and guaranteed. I just dont understand why people are going OTT

Because I want it back in my bank - so I can push it out to Northern Rock, rather then then in ING.

I'm £66k down over the two failed banks, £33k I can't do anything about, again I accept that - but that doesn't mean I'm gonna be all cool about the other £33k.

brydlesmansteve

Good point!

I am sorry.

Vectra

We have all been suckered,ING can keep on saying indefinitely no need to worry you will all get your money.Look at it like this they come along and buy a big chunk of K/E savings you don't seriously think they are going to do their best and give most of it away again.

backfoot

Last week I was chasing my BACS transfer from KE to my bank HSBC. I thought I would try HSBC and see if they were about to credit it.

The reply I received was :

'Thank you for your e-message received 9 October 2008.
In order to trace the funds, please contact Kaupthing for further assistance.
Please do not hesitate to contact us, should you have any further queries'.

:T It was the polite Customer Service equivalent of telling me to basically 'flip off' . I can't wait till they phone me to try and sell me another product.

10yrsoldersaver

Just going to check account-wont hold my breath!
Lets leave martin out of this, we chased the high interest rates abroad, all investments are a risk, painful too sometimes.

brydlesmansteve

backfoot wrote: »

Last week I was chasing my BACS transfer from KE to my bank HSBC. I thought I would try HSBC and see if they were about to credit it.

The reply I received was :

'Thank you for your e-message received 9 October 2008.
In order to trace the funds, please contact Kaupthing for further assistance.
Please do not hesitate to contact us, should you have any further queries'.

:T It was the polite Customer Service equivalent of telling me to basically 'flip off' . I can't wait till they phone me to try and sell me another product.

What were you expecting?

HSBC dont have a paper trail for that payment! Only KE will be able to assist you with the BACS payment.

TypeR

http://www.ingdirect.co.uk/kaupthingedge.asp

The updates page says they are continuing to make payments - well that's news to everyone here, isn't it remarkable that despite this not one person here has seen a penny in two days.

Fraud-at-Kaupthing

It looks as though ING have blocked emails to @ing.com and @ingdirect.co.uk presumably because of the volume of emails they are receiving.

Shall I tell you why I think Martin Lewis will not bring this issue up in open forum?

OK, when you perform a BACS or CHAPS transfer the money leaves the account and goes into a holding account at KE, it then goes into a clearing account (which in this case is operated by RBS) and from there into your linked account.

I know that the transfers did not go to the clearing account at RBS because I have good contacts there through my business and have checked.

So the money went into an account at KE. No one at ING can identify this account, they can't give it a number, a location, a value or anything.

So it looks like KE were deliberately allowing the withdrawals to go into their account and then stopping them going to the clearing bank, presumably using that money to shore up the bank until a rescue could be agreed.

I don't know all the financial niceties but I would have thought that to be theft/fraud or mismanagement at best.

So if Martin Lewis goes onto GMTV and says what has happened and is seen to be accusing the banks of illegal practices without concrete proof he may get in a bit of trouble and in the longer term presumably needs the goodwill of the banks to operate MSE.

Just my view..............

Lasertek

On the KE site, click the latest update link and the post on the 13th says...

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.