Kaupthing Edge CHAPS Transfer

miserable_ol_so_n_so

SueSue wrote: »

ING announced earlier in the week that transfers would be with receiving banks by close of business today. We are aware of that .... and so are the banks. Question: what is there to stop our banks from holding the funds over the weekend (or longer) before they credit them to our accounts? With so many of us still apparently waiting it must come to a pretty large amount and someone's got to be gaining if it still hasnt reached my account.

If cleared funds arrive, such as via chaps, or cash paid in before close of business, the banks are required to show these in the account by close of business, and make these available for customer use, else theyre in default. Payments that come in via for instance BACS, or cheques paid in, are not cleared funds, and may or may not show up in your accounts. If theyre showing, they will be identified as uncleared. I dont think there is anything to worry today. A lot of payments are coming in, and the rest will also come in.
Thats it for now. Its my lunchtime, and I am now moving to red wine. Purely medicinal you understand. Its good for the heart, and boosts the good cholesterol, helps you to ride out storms like this too!

fredhaben

SueSue wrote: »

ING announced earlier in the week that transfers would be with receiving banks by close of business today. We are aware of that .... and so are the banks. Question: what is there to stop our banks from holding the funds over the weekend (or longer) before they credit them to our accounts? With so many of us still apparently waiting it must come to a pretty large amount and someone's got to be gaining if it still hasnt reached my account.

I'm pretty sure BACS has rules which require the receiving bank to clear the funds by the end of the third day following payment (which, according to ING, should be today). I think this will mean it has to be credited to your account today.

bigg

fudgie1980 wrote: »

I think they should combine the two payment systems and call it BAPS *snigger*

Sorry - did I just say that out loud?

…then they could do a complete re-branding and call it:

Dolly Parton

UnhappyHarry

Although I haven't received any money yet, just a word of commendation for one politician..... Catherine Stihler MEP.

Of all the e-mails, I sent out, Treasury, Financial Ombudsman, Number 10, FSCS, MP, MSP and all the Scottish MEPs, Catherine was the ONLY one who responded, and has offered to write to Alistair Darling on my behalf, if ING don't keep their promise.

Thanks, Catherine!

10yrsoldersaver

Chaps made 8th oct am. still not arrived in barclays account, beginning to feel left out Has anyone received payments from the jinxed 8th?

member03030

Chaps on the evening of the 6th to my misses acc, HSBC not showing....

BACS on the 8th arrived in my First Direct acc today...

She now won't cook me any dinner tonight, because they have done mine first..

Lifes a !!!!! !!

northern5

fudgie1980 wrote: »

Still nothing in HSBC! Am not particulary worried/angry/upset etc - just a bit disappointed really.

Oh well! It's Friday at last which is something to be pleased about.

Yeah, I'm waiting for HSBC too ..... I've always thought they were quick plonking money into my account.... hopefully it'll clear tonight or my credit card bill is going to severely eat my overdraft

JennyP

Do you think they are doing it all bank by bank rather than in chronological order? As far as I can remember, no-one on this forum who has transferred into HSBC seems to have received their money!

webwalker

Still nothing in LTSB bacs done on 6th. I can wait it's only time passes so slowly when you're not sure.

debjay

I too am still waiting for a BACS payment initiated last week. Spoke to Abbey and no payments pending so phoned ING who said that even if BACS was requested ING are trying to get all payments made today by same day payments like CHAPS.

He told me to call back on Monday in the unlikely event I am still waiting.

Does anyone have the geographical or freephone number in case I need it along with maybe some other posters?