Kaupthing Edge CHAPS Transfer

kasbridge

I think you are right, the accounts for KE have been frozen due to the status of the bank.

THere is no issue with CHAPS, I was told this yesterday by the clearing bank for KE. I then spoke to a senior person at KE who confirmed that the accoutns had been frozen - cannot reach that person today of the payments team at KE whol I also spoke to.

I then found out that KE had been taken over by ING.

Not sure whether our money is sitting in a KE pending file or is considered to be part of KSF. This needs sorting quickly.

Anyone got any media contacts? Lets blow this up!
K.

esperluette

genny wrote: »

Why do you say that nothing will come in on Friday? If KE are saying there is a backlog but everything is being processed, it doesn't mean it won't get them before the weekend, it might, but it might not. Guess we'll all have to sit tight.

I was quoting lloyds tsb who said THEY could NOT see anything coming in tomorrow friday.I am assuming they know what they are doing!
and CHAPS is unaware of any backlog at their end.

genny

Thanks esperluette, I assumed that the banks only know of the money as it's credited to the accounts from CHAPS (the lady I spoke to in my bank seemed to agree with me), I don't believe the receiving bank receive prior warning that money is to be deposited.

Most likely situation is that KE accounts are frozen.

zippygeorgeandben

203ivy - Noone can guarantee your savings are safe but it's highly likely that they are safe. Like I advised people yesterday, if you did a BACS, you have to wait at least 3 days so I would leave it 5 just to be sure and if you did a CHAPS I would leave it about 3-4 days. The government have assured us all that our money is safe and if you have less than £50K then you will get all your money back.
Try not to worry and put that kettle on! That goes for everyone as well!
Ben

WaltD

I spoke with the FSCS about this matter this morning. I made a BACS withdrawal at the weekend, which was deducted from my Kaupthing Edge balance on Monday 6th October, but it has not reached my current account. The FSCS told me to give it until tomorrow (Friday), then ask the receiving bank to chase the transaction backwards through the BACS system and find out what happened to the money.

FSCS did not commit themselves as to whether they would provide cover in these circumstances.


However, Gordon Brown has repeatedly stated that no UK depositor will lose their savings. Can we be reassured by this???

Snakebite

You can add me to the list too! I made a BACS transfer from KE on Monday 6th afternoon. Gone out of my KE account but still not showing in the reciever account.

behelzebub

zippygeorgeandben wrote: »

203ivy - Noone can guarantee your savings are safe but it's highly likely that they are safe. Like I advised people yesterday, if you did a BACS, you have to wait at least 3 days so I would leave it 5 just to be sure and if you did a CHAPS I would leave it about 3-4 days. The government have assured us all that our money is safe and if you have less than £50K then you will get all your money back.
Try not to worry and put that kettle on! That goes for everyone as well!
Ben

Why assume that everyones got less than £50k in KE ? Afterall it was the Daily Mail who ramped this a/c up

mjmal51

Unprecedented times, no good coming up with scare theories, be patient as zippygeorgeandben says and I'm off for tea and crumpets now!

kasbridge

Walter,
The problem is not with CHAPS, what you will find is that the transation is stalled due to the clearing banks's not processing any KE transactions.

The trace will identify this but will not resolve the situation.....
K

Snakebite

Also, not sure if this is the right forum but did anyone read the ING information on the KE website? It seems to suggest we are covered under the Dutch Compensation scheme up to £77,000. It didnt say anything about being covered under the UK scheme now!? Anyone know anything different?
Thanks.