Kaupthing Edge CHAPS Transfer

Katykay

I had requested a BACS transfer from my KE account because I needed the cash, not because I was worried that I might lose it - the total amount in my account was less than the £50K guaranteed by the FSA.

Having read the posts on here and on Motley Fool I sent a (hopefully) polite email to the CEO of ING Direct asking if he could give me any idea when the money requested from KE via BACS on Wednesday 8th would arrive in my linked account.

Within a couple of hours I received a call from the Customer Relations Manager at ING Direct.

He said that they are working their way through the backlog which will take some time but this should be days, not weeks. They have had staff working at the weekend and later into the evenings. He could not tell me exactly when my money would arrive because the people they would have to ask are the ones working on the transfers so it would slow down the process of moving the money.

He then made sure that I had his name and direct phone line and said that I should contact him again if I had further queries.

Although I still do not know exactly when I will get the money, I do feel reassured that they are working on it and it should not be too long.

ES10

genny wrote: »

I was only teasing! Thanks for the kind reply. I was moaned at along with other regulars on another thread for recommending KE recently - but I really did believe KE would be ok, I'm amazed at what has happened in the past week or so.

I really had intended adding more too, when it all settles down I'll have to see, I've not been impressed with the lack of communication from ING, so I'm not confident to bank with them in the future, however if they keep the KE rates, it may be a good bet, for under 70K.

You make a good move with the 6-10 withdrawal, I did think about it then and a few days earlier, but wanted to stick and weather it out

Wish I'd heeded your warnings and got out earlier now with hindsight!!

I'm sure we all will get our money, but I'm not confident it'll be in the next day or so, maybe by Fri we'll know a bit more....

Well I thought that I was being smart by initiating my withdrawal on the 5th ...but it didn't come out of my account till the 7th ...talk about rotten luck!

Are there any others who had their withdrawal 'done' a day later than it should have ...or am I the only one....lucky white heather anyone?

Dancingbear_2

lozzy73 wrote: »

Money doesn't grow on trees....

Nor on hedges, now...

UnhappyHarry

Katykay wrote: »

Within a couple of hours I received a call from the Customer Relations Manager at ING Direct.

He said that they are working their way through the backlog which will take some time but this should be days, not weeks. They have had staff working at the weekend and later into the evenings. He could not tell me exactly when my money would arrive because the people they would have to ask are the ones working on the transfers so it would slow down the process of moving the money.

He then made sure that I had his name and direct phone line and said that I should contact him again if I had further queries.

Why don't you post these detail here so that we'll all have access to it?

ontherun_2

genny wrote: »

I'm sure we all will get our money, but I'm not confident it'll be in the next day or so, maybe by Fri we'll know a bit more....

That's the whole thing Genny, ING with these pathetic once daily updates are tellling us nothing new. When the take over was announced last week, it was stated then that our cash would be safe. However, there still has been no mention of the fact that they have in effect, frozen most peoples accounts with no indication of when/if normal business wil resume. As I pointed out in an earlier post. I was practically advised by ING this morning not to withdraw money.....Even a nominal sum, as they couldn't guarantee that the transaction would go through this month or any indication of when it would go through

Laura_D_2

Hi,

I rang KE just now for the first time. I have restrained myself until now as I felt nobody was getting any answers. I need the money for completion on a house which is due next week. I was told as many already have by a very unhelpful lady that they couldn't tell me when the payments will be received. I asked if she was talking about days, weeks, months or years and she didn't know. I asked her if she could tell me exactly where my money was as it hadn't been in my account since last Tuesday. She said she didn't know but could assure me it was 'extremely safe' haha. I said I was concerned an act of theft or fraud may have occurred on my account to which she guaranteed me it was 'highly safe' and no such act had occurred despite 1) not even asking for my account number and 2)not knowing where the heck it is. What a waste of time.

I know there has been lots of talk on this forum of reporting theft or fraud and was wondering if anyone had gone down that route and what response they got? I am getting desperate as so many other people are and need some more avenues to go down.

Thanks

Katykay

UnhappyHarry wrote: »

Why don't you post these detail here so that we'll all have access to it?

I did think about it but can't see how it would help for him to be inundated with lots of phone calls which would only stop him doing his job and possible make the situation worse. I figured it was better to report what he had told me which is presumably the same as he would tell everyone else.

ginvzt

Laura_D wrote: »

Hi,

I asked her if she could tell me exactly where my money was as it hadn't been in my account since last Tuesday. She said she didn't know but could assure me it was 'extremely safe' haha. I said I was concerned an act of theft or fraud may have occurred on my account to which she guaranteed me it was 'highly safe' and no such act had occurred despite 1) not even asking for my account number and 2)not knowing where the heck it is. What a waste of time.

Well, it started being 'extremely safe', then dropped to 'highly safe'.... And she never mentioned 'completely safe'...

10_66

Have just received a phone call from very nice gentleman from ING following an email I sent. GOOD NEWS!! They have just received an email confirming that all of the transaction requests should be processed on Friday 17 October. The only ones that may take a little longer than that are those who tried to make the transaction twice. Hope this helps!! They'll be putting this on their website.

ginvzt

Ok, so my BACS taken out of my account on October 7th, will be processed on October 17th! Only 10 days... And then I probably won't have it in my account till Wednesday or Thursday.

Ah, now it is clear - it is my birthday next Thursday and they didn't know what gift to give to me, so they decided to hold off my transfer till then!