Kaupthing Edge CHAPS Transfer

intex

I am one of the many people that has become addicted to this forum over the past few days. At times this forum has quelled the panic and terror I have felt, other times it has incited it.

One thing that did temporarily relieve the dread building up in the pit of my stomach was a joke I heard yesterday.

Q. What is the capital of Iceland?

A. About £4.50

Squibbler

goodethernet wrote: »

I think that it's beyond the call of duty that ING will pay interest on peoples' balances since the time the transfer was made. If we are all honest with ourselves, interest was the LAST thing on our minds as we all scrambled to get money out of KE.

Now I'm confused - i thought their website stated that they would be paying interest.

captainkevos

geebet wrote: »

Just wondering, if you make a bacs transfer out, should you be able to see the money taken out of your account instantly as my statement still reads the same?

Yes, you should. I had the same problem with this over the last few months on more than one occasion with my KE account. To be sure that your withdrawal request has definitely gone through, you should be taken to a new confirmation screen with the words "Print Confirmation" and "Finished" at the bottom. This screen will have full details of your Withdrawal Amount,Requested Withdrawal date,Account name & number,Linked account sort code,A/C number,Payment method (BACS),Transaction reference,Withdrawal description,Transaction fee.
Once I even had to click on the "Make Payment" icon for up to three times before the system finally woke up. There seems to be a software bug with KE's IT system I think. Anyhow, the answer is yes, you should see the withdrawal amount deducted from your total balance once you pass the "We confirm that we have received the following instructions:" screen. Cheers !!

Blonde

Can i ask how many people who have fixed term deposits with kaup now ING will keep there deposits ongoing after all this "waiting" for monies is resolved"

My issue is that my isa with icesave had to be guaranteed by uk as iceland had no money in there compensation scheme (as the reason the uk has frozen there uk assets) My worry is could the Dutch compensation scheme encounter the same problem

miserable_ol_so_n_so

Its wonderful news re Friday payoff. But, I am woried about the small number, for what ever reasons, will be processed manually. It could be any one of us. Can we make some sort of pact....not to desert them?

Squibbler

Blonde wrote: »

Can i ask how many people who have fixed term deposits with kaup now ING will keep there deposits ongoing after all this "waiting" for monies is resolved"

My issue is that my isa with icesave had to be guaranteed by uk as iceland had no money in there compensation scheme (as the reason the uk has frozen there uk assets) My worry is could the Dutch compensation scheme encounter the same problem

Potentially yes, but less likely.

Squibbler

Friday is payday! LOL

Smitty

goodethernet wrote: »

Look on it as an act of extreme goodwill on the part of ING that they'll cover the interest. Same goes for whiners about CHAPS fees.

I agree that its good of ING to say they will ensure no interest is lost, as they could have gotten away without doing this... But they have had this takeover deal sweetened a hell of a lot by HM Treasury, so I think it is right that they do. If they don't... is it too much to expect for a refund of the CHAPS fee, which we pay to have money transferred 'same day'... but will end up taking over a week.... if you dont think so, I think it is at least a valid point for people to discus without being called 'whiners'

genny

Blonde wrote: »

Can i ask how many people who have fixed term deposits with kaup now ING will keep there deposits ongoing after all this "waiting" for monies is resolved"

My issue is that my isa with icesave had to be guaranteed by uk as iceland had no money in there compensation scheme (as the reason the uk has frozen there uk assets) My worry is could the Dutch compensation scheme encounter the same problem

There is a separate thread and poll about this on this forum....

Financial_Novice_2

Squibbler wrote: »

Now I'm confused - i thought their website stated that they would be paying interest.

They have. Goodethernet is simply adopting a stance that everyone should be happy to receive their capital back and not worry about interest/CHAPS overpayments