Kaupthing Edge CHAPS Transfer

joanniepony

goodethernet wrote: »

By way of light relief, check out this link and try not to laugh too loud.

Next stop FSCS!

http://www.thedailymash.co.uk/news/war/councils-invested-%a31bn-in-tiny-volcano-surrounded-by-fish-200810101314/

It was worth all the worry this week just to find my way to this! Thank you so much goodethernet!! I've joined the group on facebook.

I think the article (and many others on the site) sums up the sense of humour that most of us have been trying hard to hold on to in the face adversity. Long may the Great British sense of the utterly ridiculous live!

zaphod_beeblebrox_2

MSE_Dan wrote: »

This has been posted in here already but wanted to reiterate it

ING Direct called and asked if we could post this on the forum for them to legitimate it. Hope it helps ease some worries

Update 18.30 14 October

In case anyone hasnt seen the update yet from ING Direct, the following message has now been posted for ex-Kaupthing customers

PAYMENT UPDATE

We have been working hard to restore normal service for Kaupthing Edge customers and resolve the issues around delayed payments.

In addition to the payments already made, we are now able to confirm that all payments will arrive in their destination bank account by close of business Friday 17 October. There are a very small number of manual payment instructions which are still being processed and which will take slightly longer.

Once again we apologise for the inconvenience and distress this delay has caused. It has taken us longer to resolve the issues at Kaupthing Edge than we expected due to the significant disruption caused when the business was taken into administration. Understandably, customers have been asking for clarification on when this issue was going to be resolved, but this is the first time we have been in the position to give firm assurances.

Thank you for your patience and we can confirm that customers will not lose interest as a result of this delay.

All well and good you turning up NOW!, where were you last Tuesday?

goodethernet

Smitty wrote: »

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'

OK, maybe "whiners" is a bit harsh. Maybe not. If this had gone to the FSCS, do you think we would all have got our CHAPS payments and interest back? I also don't think that the deal was sweetened that much for ING (the adminstrator/government got a small discount for the value of the customer book I think but that was it). And when HM treasury approached ING with the wreckage of KE, ING could easily have said "actually, do you mind if we don't?" Then it would have been claim forms for the lot of us from the FSCS

I suppose my point is that I was surprised how quickly some people went from the gut-wrenching shock of potentially losing a LOT of money which was then handed back to them by HMG/ING intervention/goodwill to then having a pop at ING for not sorting it out quickly enough and then moaning (that's kind of low-fat "whining") about the possibility of lost interest and CHAPS fees.

It all looks like it's going to work out in the end, so no harm and no foul (except for the people that have missed out on houses or whatever. I do feel for them). As for me, I'm going to buy a new car when I get my money back. F**k the credit crunch......

greigster

MSE_Dan wrote: »

This has been posted in here already but wanted to reiterate it

ING Direct called and asked if we could post this on the forum for them to legitimate it. Hope it helps ease some worries

Update 18.30 14 October

In case anyone hasnt seen the update yet from ING Direct, the following message has now been posted for ex-Kaupthing customers

PAYMENT UPDATE

We have been working hard to restore normal service for Kaupthing Edge customers and resolve the issues around delayed payments.

In addition to the payments already made, we are now able to confirm that all payments will arrive in their destination bank account by close of business Friday 17 October. There are a very small number of manual payment instructions which are still being processed and which will take slightly longer.

Once again we apologise for the inconvenience and distress this delay has caused. It has taken us longer to resolve the issues at Kaupthing Edge than we expected due to the significant disruption caused when the business was taken into administration. Understandably, customers have been asking for clarification on when this issue was going to be resolved, but this is the first time we have been in the position to give firm assurances.

Thank you for your patience and we can confirm that customers will not lose interest as a result of this delay.

I suppose Martin will be here soon telling us how hard he has worked to ensure we get our money back by Friday. A huge thank-you to Martin and Dan for all your efforts....not!!! You have been less forthcoming with your help than KE/ING. Some of the posters have worked very hard to find out as much as possible and to keep the rest of us informed. I would like to say thanks to all of them

JamesPond

captainkevos wrote: »

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 !!

Ive made a BACs withdrawal, got to the confirmation screen but my balance still remains the same.

poodlediva

I hate to be a killjoy but after all the false information we have been given recently, both buy ING and Martin I am not holding my breath. I fear they are giving themselves a few days peace and come Saturday morning we might all still be licking our wounds.

I hope and pray that I am wrong and will eat my words on Friday but my trust is all but gone now. Sorry to be a party pooper!

bigg

I have no problem believing ING, when they say there have been unexpected delays and their staff have been working flat out to sort the backlog. It must have been a monumental task.

What’s really annoyed me, has been the lack of information and the false statements that payments have been made, when clearly they haven’t.

Every bank’s credibility is at an all time low. It was a golden opportunity to show a new openness and honesty.

Katykay

JamesPond wrote: »

Ive made a BACs withdrawal, got to the confirmation screen but my balance still remains the same.

Did you check your transactions after you had confirmed the withdrawal? I out through a BACS withdrawal for £5 this afternoon just to see what would happen. Everything went through OK, my balance went down by £5 and I can see full details of the transaction including the account it is going to.

zaphod_beeblebrox_2

poodlediva wrote: »

I hate to be a killjoy but after all the false information we have been given recently, both buy ING and Martin I am not holding my breath. I fear they are giving themselves a few days peace and come Saturday morning we might all still be licking our wounds.

I hope and pray that I am wrong and will eat my words on Friday but my trust is all but gone now. Sorry to be a party pooper!

poodlediva, its in the bag, relax, enjoy the rest of the week

Financial_Novice_2

greigster wrote: »

I suppose Martin will be here soon telling us how hard he has worked to ensure we get our money back by Friday. A huge thank-you to Martin and Dan for all your efforts....not!!! You have been less forthcoming with your help than KE/ING. Some of the posters have worked very hard to find out as much as possible and to keep the rest of us informed. I would like to say thanks to all of them

Have to disagree with you here. Much of the help from posters (understandably given the circumstances) has been confusing, speculative and often conflicting as they were receiving different messages from firstly KE, then ING. I'd imagine Marting and Dan wanted to wait till they were able to categorically verify any info they posted as they are fully aware that people may take their message as gospel.

I think it's also a bit hypocritical of you given you have chastised others for having a pop at people on this thread.