Kaupthing Edge CHAPS Transfer

blowupiceland

bigg wrote: »

I can understand everyone’s frustration but ING have had a monumental task to perform. Until they agreed to take KE over we would have had a 3-month wait with the FSCS.

They have given us a timescale. Lets see how it pans out before we start protesting.

Agree, but I suspect they're now regretting promsinig everything by Friday.

In which case, why didn't they promise by end of next week.

Aim low and over-achieve, rather then aim high and fail.

catbaloo

blowupiceland wrote: »

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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.

oh rite that old potato again, it was the wrong date yesterday when u posted it, now wrong time, not even 2pm yet!!!!

chairman_miaow

blowupiceland wrote: »

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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.

Wow...can they predict the future then ?

bigg

blowupiceland wrote: »

Agree, but I suspect they're now regretting promsinig everything by Friday.

In which case, why didn't they promise by end of next week.

Aim low and over-achieve, rather then aim high and fail.

It’s rumoured that 2pm may be the time they press the CHAPS button. Let’s just be patient and see what happens.

They’ve got to have their lunch first.

djrobe

blowupiceland wrote: »

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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.

Good job you posted this before 2pm!

R4CHY_3

kasbridge wrote: »

All,
Just an FYI for HSBC people.....HSBC CHAPS cut off is 15:58 daily so if it isn't in your account by then you will not see it until Monday even if ING send it.

Did my CHAPS at 13:35 on 7-Oct and still no cash........

Thx,
K.

Do you think that includes First Direct too re: the cut off point? I did 2 CHAPS on 7 Oct @ 10:00 pm and no money yet either. :rolleyes: Am getting a bit fed up of checking the c/a and getting the sinking feeling over and over again...

blowupiceland

chkurz wrote: »

do you have a website source for that?

just a silly wind-up to pass the time rather than keep hitting F5

although a slim hope that it might stick a rocket up the !!!! of the journos and ING managers trawling this site

hawfinch999

Still waiting for CHAPS payment from 7/10 am. Not in my bank an hour ago. Now Smile web site appears to be down!!!

Pyewacket338

Earlier I said my cash was transfered using CHAPS.... I actually used BACS, I did the transfer on the afternoon of the 7th and recieved it this morning.

web_ferret

So it looks like the BACS are going through but not seen a simple CHAPS yet - is my summary correct?