Kaupthing Edge CHAPS Transfer

kasbridge

Just spoke to a supervisor at KE cust support.

Their position is this (my interpretation);

1. We are KE customers - monies in transit are still responsibility of KE and not KSL.

2. A decision will be taken shortly as to whether the transactions will be processed to destination a/c or credited back to our KE accounts.

THis is good news, I emphasised very strongly that they need a statement on the web site to this effect, she promised to get onto a senior manager and feed this back.

Hope this helps,
K.

esperluette

eyeshigher wrote: »

I've just come off the phone from the FSCS.
Our money is safe, If the money has gone from your account at KE but has not appeared in the destination bank it will be in a holding account, waiting and will be traceable. These funds are still covered by the FSCS, I was told, 100%

Also the lady said ING took over the accounts ----TOTAL. Meaning they will have full records of where your money has gone.

I BACS earlier this week, no sign - yet.

just come off the phone too and was told the position re limbo money is with their legal department so they CANT say its definitely covered!

greigster

northern5 wrote: »

I agree .... why add yourself to a list, are you going to take it to the FSCS and tell them that some people are awaiting funds ... I think they already know that!!

How sad that some of you feel the need to knock others who are trying to help. If you don't want to go on the list that is fine, but we are all in the same boat so just to talk to each other is very helpful. Nobody has to get involved but for those that do (quite a few it seems) find it helpful.

£35000 by BACS on Tuesday morning still no sign in my target account, and bank have said nothing due in tomorrow
Please add me to the list.
Regards
Greigster

formulaonefan

esperluette wrote: »

just come off the phone too and was told the position re limbo money is with their legal department so they CANT say its definitely covered!

I don't think that can be correct. Money in transit should sit on KE a/c or in a queue somewhere. It will either be part of KE a/c which now belongs to ING or it will be part of target a/c.

behelzebub

kasbridge wrote: »

Just spoke to a supervisor at KE cust support.

Their position is this (my interpretation);

1. We are KE customers - monies in transit are still responsibility of KE and not KSL.

2. A decision will be taken shortly as to whether the transactions will be processed to destination a/c or credited back to our KE accounts.

THis is good news, I emphasised very strongly that they need a statement on the web site to this effect, she promised to get onto a senior manager and feed this back.

Hope this helps,
K.

Thanks kasbridge

:beer:

WestCoast_3

formulaonefan wrote: »

I don't think that can be correct. Money in transit should sit on KE a/c or in a queue somewhere. It will either be part of KE a/c which now belongs to ING or it will be part of target a/c.

The money could be with KSF

trevs707

KE Savers – We all need to bring some more focus on this crappy situation by complaining outside of this website via;

http://www.moneymadeclear.fsa.gov.uk/contactus.aspx
[EMAIL="news@sky.com"]news@sky.com[/EMAIL]
[EMAIL="complaint.info@financial-ombudsman.org.uk"]complaint.info@financial-ombudsman.org.uk[/EMAIL]


If anyone can add to this list please do so.

FYI:
ING freefone number 0800 561 8840
KE on 08451 313 234

Mandark

Just talking about this on Radio Five Live after a listeners' question. The money may not have been entered into the CHAPS system and it's not lilkey to be now. They say it's ING who have to track down your money.

sebtomato

As per my previous post, I tried to make a withdrawal by CHAPS on Tuesday evening, and then again yesterday afternoon.

Despite getting a reference number each time, balance stayed the same.

I called KE today (spoke to them after about 15min wait, not bad given the circumstances), and they told me the money had been transferred now, but it will take several days to show on my receiving account (Barclays).Only the second withdrawal went through, the first one was completely ignored, but I was only charged once. They said BACS, despite being automated, would take as long to process.

If they have to do manual checks with CHAPS, and they have a huge backlog, then I understand it would take a while. However, I am not convinced about why BACS would not work within 3-4 days, since it is apparently fully automated. Just looks to me that they are short on liquidity, and are slowing down money withdrawals.

Either way, getting the money out still seems a good idea to me.

Finally, thank you to all the people posting last week that KE would be safe, that there was no need to withdraw money etc. You couldn't have been more wrong. Of course, money is guaranteed by the UK FSA, but it's not accessible.To me, if I can't get money from a bank when I need/want it in a timely manner, it does not look too good and I have lost all faith in them and their new buyer.

Instead of doing the same as Icesave and putting a message on the frontpage about withdrawals being stopped, they still allow withdrawals not to panic people, but they don't actually work, which is the same result.

bigg

sloughflint wrote: »

What is the point of this list and people wanting to be added to it? Another silly MSE thread being bumped ( sorry for bumping also). I posted earlier and removed my post when I realised the problem was widespread.
It is certainly hard to access useful info at the moment on MSE.

What do you mean ‘silly MSE thread’?

Maybe you’ve got nothing to lose. Most people posting here are concerned about their hard earned cash disappearing into cyber space.

The banks and FSCS gave us all these assurances that our money was safe but they never thought anything like this would ever happen and didn’t have any procedures in place to deal with it.

At times like this, we need to stick together, more than ever. If there’s going to be a riot, I’ll be leading it. I’m not going to let some smart suited spotty idiot steal my wonga.