Kaupthing Edge CHAPS Transfer

MABLE

hometune wrote: »

Scandalous!!!! Get Martin on the case!

I'm sure Martin is doing everything he can behind the scenes. Bearing in mind some customers have received their savings back it would be good to know what date the ING are working on at the moment.

brydlesmansteve

Fraud-at-Kaupthing wrote: »

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..............

RBS have NOTHING to do with KE.

Natwest is KE clearing bank!

No fraud or theft has gone on. Dont scaremonger!

Floop1977

Made CHAPS payment out of KE on 7th October, evening.

Money still not arrived in my receiving account (Natwest) although it has gone from KE.

I am fed up with not knowing, ING need to sort this out now, it is just terrible.

MABLE

ES10 wrote: »

Thats not true I initiated my payment on the 5th and I still don't have my money

Let me phrase it differently then. The Majority of customers who requested withdrawals on the 5 and 6 October and monies debited from their accounts on the 7 October finally had their monies returned to them on Friday 10 October.

For all customers who did not receive their money within the period mentioned I sincerley apologise.

amazinggrace

On the ING Direct/KE website now:



UPDATE: TUESDAY 14TH OCTOBER


PAYMENT UPDATE
ING Direct is continuing to work through the backlog of payments and can also confirm that customers will not lose interest because of this delay.
FIXED TERM PRODUCTS UPDATE
Those customers with deposits in a Fixed Term Savings product can be assured that these rates will be honoured by ING Direct.
We are fully committed to returning services to normal as quickly as possible and we will continue to keep you updated, via this page, on further progress.

I'm with all of you here. OK one minute and not the next. This feels dreadful and I hope that we'll be put out of this misery very soon.

brydlesmansteve

MABLE wrote: »

Let me phrase it differently then. The Majority of customers who requested withdrawals on the 5 and 6 October and monies debited from their accounts on the 7 October finally had their monies returned to them on Friday 10 October.

For all customers who did not receive their money within the period mentioned I sincerley apologise.

Still waiting for mine, and I asked for it on the 2nd!

Bisoy

greigster wrote: »

I have just phoned my bank to ask if there were any bacs payments due to come in tomorrow and they have said no. I transferred £35000 from KE on Monday at 14.25 hrs so missed the deadline for Monday by 25 mins. It went from my KE account first thing Tuesday morning. So it does not look good for tomorrow.
Why has Martin not got involved? Surely he could get the necessary TV coverage with his connections. Perhaps now he has made his pile he needn't worry about those of us that helped him get there!!
I am very disappointed in his lack of commitment to so many of his loyal MSE correspondents.
Enjoy your money Martin because I will enjoy mine when I eventually get it and it will be no thanks to you. You have been a great disappointment to many of us.
Good luck to all the people waiting for there dosh.
Regards
Greigster

I have to admit Martin has lost some credibility on this continuing saga. He's becoming a villain to some of his army of fans.

I could not blame them as we have different circumstances. For some these are some of their lifelong hard earned savings that they can't have access with and for some this is their emergency fund.

I for one is still waiting for my BACS transfer request last tuesday 07/10/08 and would remain positive that I could get my money soon.

djrobe

TypeR wrote: »

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.

If all are made by BACS, it takes 3 working days so if the files are submitted Monday - Wednesday, payments wont show until the end of the week.

Gwhiz

Floop1977 wrote: »

Made CHAPS payment out of KE on 7th October, evening.

Money still not arrived in my receiving account (Natwest) although it has gone from KE.

I am fed up with not knowing, ING need to sort this out now, it is just terrible.

There are lots of very emotive words being used around here.

We are experiencing a situation unheard of in modern times - bank collapses - so how do we have any idea of the issues that are involved in trying to sort it all out. Why would you think it's "terrible", why do you believe it's possible to sort it out "now"?

Patience everyone.... do you really believe your transferred money (and mine) is being secreted away? I don't!

catbaloo

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.

I went into my HSBC branch yesterday to pay in a cheque, while there I mentioned my two missing bacs transfers from KE made Tues 7th Oct, they checked the system and confirmed nothing was pending, around 2 hours later I got a call from HSBC apologising for not being able to help further and offering to keep on eye on things over the next 2 or 3 days and promising to call me when and if anything appeared on the system. I was very impressed. Sadly no call yet though.