Kaupthing Edge CHAPS Transfer

JCB_Digger

> Compensation schemes could well have gone belly up by then.

But the government have already guaranteed that any money from the Icelandic banks is safe..

If the Government and therefore our Country cannot pay up, then life as we know it will no longer exist and we'll all be back to bartering sheep (which, speaking as someone who deals in computers will be a right pain), I for one don't relish the prospect of having to take a couple of sheep down to Tesco as payment for my weekly shop.

For Gods sake, Chill out.

Regards, John

Landyman64

Dare anybody request a CHAPS transfer now to see if it reaches their linked account by tonight? !!!

Surely if a CHAPS transfer can be requested still (which it can), then there should at least be a message when you log into you account advising of the delay (which there isn't).

I belive that ING is completely at fault here, anybody not up to speed with this situation could find themselves caught up with the rest of us. Unless of course, the transaction were to be successful - Dare you try!

ontherun_2

As stated earier Landyman, I did enquire & they couldn't be confident that it would reach my linked account this month! .........YIKES!!

hometune

Landyman64 wrote: »

Dare anybody request a CHAPS transfer now to see if it reaches their linked account by tonight? !!!

Surely if a CHAPS transfer can be requested still (which it can), then there should at least be a message when you log into you account advising of the delay (which there isn't).

I belive that ING is completely at fault here, anybody not up to speed with this situation could find themselves caught up with the rest of us. Unless of course, the transaction were to be successful - Dare you try!

I was told yesterday by KE if I withdrew my money from my KE account today by CHAPS it would be added to the to do list and would take a considerable length of time to be transferred to my linked account!
Withdraw at your peril!

poodlediva

nomorekids wrote: »

Are you listening Channel 4?

Sarah Beeny???

lozzy73

I believe the real reason for the current apparent 'freeze' on payments being made on our behalf is due to the interbank borrowing rate still being too high. In order for KE/ING to honour our withdrawals, they need to borrow money to fund this. If you look at the current LIBOR rates these have in fact increased despite the injection of capital yesterday. Only when banks resume normal lending (which was what the injection of capital over the last week was meant to do) will we see any of our money. If share prices keep rising as they have done today, however, the economic mood may improve resulting in an eventual move back to normality. This is my theory. If it is correct, it perhaps does not seem ethical that we have to wait because the bank does not want to be faced with increased borrowing costs but it is probably sensible in the long run. After all, KE's borrowing costs increased by 400% and we don't want that happening again to any bank as we all lose out. Patience is a long lost virtue we all need to regain now, I guess.

Onionman_2

poodlediva wrote: »

I have just had a VERY alarming conversation with the escalations / customer service team at ING. The man I spoke to kept reading me the official blurb that Martin and others keep quoting. I asked him to put down his script and give me some truthful answers to my questions. He admitted that even priority cases (house completions etc) are not getting through in the main part. He also said that although the official line was that payments were still being processed, that anybody who is being given eta.s for the arrival of their money is being !!!!!!!!ted to shut them up. I told him that my funds were urgently needed for payments and asked when it was likely I'd receive my money. If I at least have a timescale I could make plans accordingly. He told me there was absolutely no point checking my receiving bank balance every half an hour as I have been as the payment would be very unlikely to arrive this week. I kept pushing for when it might arrive. He said I should be grateful it was not ICESAVE as I would be waiting months for sure. With Kaupthing it was 'likely' to be less. No explainations why, and when I pushed for such an explaination he reverted to the official script that payments were continuing to be made. I feel like I am in some Kafkaesque nightmare.

All this from somebody in customer relations who was supposed to be there to calm me.

I wish I could be part of the happy crew on this forum who keep their blind faith in INGs !!!!!!!! press releases. MONEY IS NOT COMING THROUGH AND HAS NOT SINCE FRIDAY. Something fishy IS going on. I have been panicking somewhat about the situation but I am now seriously worried that the money is gone for good. If we have to wait weeks or months, that is a long time in the current climate. Compensation schemes could well have gone belly up by then.

Very worried. :-(

We just don't know, which is very worrying, another Ing cust service told me that I was lucky because KE weren't covered by the FSA, what rubbish!

Why has Martin Lewis been recommending KE for ages? Even when the Icelandic bank warnings came out in March he still continued.

Is is because of the click through commision he has made from us?
Who's laughing all the way to the bank now?

fudgie1980_2

Is anyone still checking their accounts every 20 minutes like I am?? Not sure why I'm still bothering - think it must just be habit!

tintin52

That it may take some time for ING to sort out these payments is reasonable.
That ING are posting updates which just don't seem to reflect reality is NOT reasonable.
Whatever the reason such poor communication is inexcusable and doesn't reflect well upon ING or any of the other bodies involved in this sorry saga!

linnyk

Apologies if I am behind the curve here. I last logged in to the site last week and there seem to have been a lot of posts since then. Many of the latest posts here and martin's message refer to transfers attempted prior to the takeover by ING. I transferred - or tried to - after the takeover on Tuesday afternoon and still have not received any money. Are others in this situation?