Kaupthing Edge CHAPS Transfer

goodethernet

moneysavingmatthew wrote: »

Was yours CHAPS or BACS?

The fact that people are seeing cash appearing suggests that tomorrow's payments will be via the BACS process. If this is the case, different banks will have different times when you will see the money and when you can draw upon it...

Read the posts above. Some people are getting BACS (that they can "see" on the way to them now) and someone from ING has said 26,000 CHAPS payments tomorrow.

If that's true that's 26,000 people that won't see a thing until it hits their account.

Squibbler

Thanks for the positive thinking reminder

moneysavingmatthew

goodethernet wrote: »

Read the posts above. Some people are getting BACS (that they can "see" on the way to them now) and someone from ING has said 26,000 CHAPS payments tomorrow.

If that's true that's 26,000 people that won't see a thing until it hits their account.

I did - just wanting to confirm if the people 'seeing money now' are indeed BACS customers and they are being fulfilled thru BACS.

goodethernet

Yep they are the BACS ones. I'm one of the masses waiting for CHAPS

moneysavingmatthew

goodethernet wrote: »

Yep they are the BACS ones. I'm one of the masses waiting for CHAPS

Me too - I need the cash tomorrow (and I mean cash) so am hoping it appears before the close of banking.

I don't hold out much hope as the majority of CHAPS payments generally settle between 2pm and 4pm (although lately this has extended past even 5pm)

bigg

Isn’t it about time the government stopped !!!!!footing around and announced that every UK bank and Building society account is guaranteed for 100%? This would encourage foreign investors and the banks would be inundated with money, confidence would return, interest rates would go up (keeping us savers happy) borrowers could borrow again, they wouldn’t need the £37 Billion injection and the financial crisis would be over. It’s not rocket science.

Oh no, my post has been edited for using a naughty word, well sort of.

!!!!!footing ?????????

The !!!!! is another name for cat. We always used to call them P!!!!!s when I was a kid.

Even the forum bot has got a sense of humour. :rotfl:


Pity it didn’t edit out the s word earlier.

cissybay

I just wanted to say what a resource this thread has been to me - not just in advice but in sanity. Although I've not posted before (shy like that) THANK YOU (including Luke;)) to all to have shared and joked and made me feel soooo much better about 'losing' my money in the ether. I'm currently watching my current account sink to single figures (all my other savings in icesave ISAs - yes I know, big mistake, won't be making it again:eek:) and I have a big DD coming out on Monday so I really am hoping its sorted by tomorrow! As others have said, it's not easy to talk to other people about this sort of thing so many many thanks.:A

Hopefully this will be goodbye and not au revoir! (I only read in the evenings... fingers crossed for tomorrow)

10_66

Can anyone tell me if they're in the same situation as me, please. I requested a closure of my account on Tuesday 7th (by phone), my account balance since then has shown the full amount, unchanged. I did not try repeating the transaction. I've just checked again and the account is still showing as being open, with the balance unchanged. My problem is that I don't know whether or not the request was ever put through. On ringing Kaupthing, they say that they can see I requested it, but they can't give me any further information than that. My other main problem is that my linked account is with Cahoot, whose website has been down for over 24 hours (they keep moving the goal posts as to when it's supposed to be up and running again), so I may not be able to view my Cahoot account tomorrow to see if anything's gone in. If nothing changes tomorrow, I daren't put another request through in the next few days, as it may be classed as a duplicate request, but no one can tell me when normal business will be resumed.

blowupiceland

====================STOP PRESS============================

Reuters, London, October 17th, 2008
British savers face an anxious wait over the weekend as the electronic payments system, C.H.A.P.S, used by banks to transfer funds, collapsed at 2pm GMT today under the pressure of an enormous backlog of inter-bank transactions.

It is thought the vast majority of transactions originated at Icelandic bank, Kaputhing, who were declared bankrupt earlier this week and whose UK arm was subsequently acquired by the Dutch instituition, ING.

A large number of Kaupthing's estimted 200,000 British-based savers rushed to move money out of their savings accounts when it became apparent that Iceland was facing insurmountable financial difficulties.

In many cases, savers' Kaupthing accounts showed that funds had been transferred, but did not subsequently arrive in destination accounts within 3-4 business days.

A spokesman from ING refused to comment even though the company had earlier issued a statment guaranteeing that all outstanding payments would be cleared by Friday.

EalingSaver

blowupiceland wrote: »

====================STOP PRESS============================

Reuters, London, October 17th, 2008
British savers face an anxious wait over the weekend as the electronic payments system, C.H.A.P.S, used by banks to transfer funds, collapsed at 2pm GMT today under the pressure of an enormous backlog of inter-bank transactions.

Cute - had to do a double take on that one!