Kaupthing Edge CHAPS Transfer

northern5

Just having a quick flick thru the news websites... Seems the latest story is the councils and their savings. Probably a discussion for another day, but why do they have so much in savings? Seems we're paying inflation busting increases for what, so they can put money in savings rather than into pubic services??

tintin52

Have just got off phone from speaking to someone at HM treasury asking for them to take some action to resolve the uncertainty over these transfers. Have mentioned this site and thread and forwarded a link so they can see for themselves the scale of problem and the concerns that are being fuelled by staff at KE and FSCS giving conflicting views and advice on these transfers.
I am hopeful that someone at HM Treasury will get this resolved for us.

kasbridge

sorry to clarify I think that the FSCS are not certain of the ING position but had pout out the internal email to calm people in the event that ING took that position.......

mobfant

northern5 wrote: »

Just having a quick flick thru the news websites... Seems the latest story is the councils and their savings. Probably a discussion for another day, but why do they have so much in savings? Seems we're paying inflation busting increases for what, so they can put money in savings rather than into pubic services??

Many reasons including - they need some form of contingency funds, they might receive tax in April (or whenever) but they won't be paying for all services on the same day they receive taxes, but throughout the year and longer for longer-term investment programmes.

welovedarling

I too have money in limbo (200k). I did an online withdrawal with KE on Saturday which took them to Tuesday to deduct from my account. I have rang them many times and been given fob off answers to when the money would appear in my destination account. As of today it's still missing.

Where is the regulator in all of this? I am extremely grateful to the UK government for fixing up KE with ING DIRECT. Without this we'd be stuffed. Reading through this forum has been great and the best I can do is follow the advice of others who say -wait, sit it out, it will get sorted.

Nevertheless the inactions of the regulators is dreadful. They need more bite. I have raised the matter with the Ombudsman who tell me they will write to KE and I can expect a response in 6 weeks!

What else could they do? Well they could make them put out a statement that tells the truth about what they have done and what are they now doing to put it right? FAQ's please and real answers not "we are working to address these issues at the earliest opportunity..."

KE Head Office should be raided by the SFO. Former Heads need to be brought to account and this whole episode untangled to make sure that we all can have confidence in our banks again. They have betrayed and lied to us - not the poor call centre staff - the Bosses! They need to be brought to account.

Mr Darling & Mr Brown - thank you so much for standing up for us. For doing what was right and taking the actions that you did. You are both honorable hard working public servants. Others might say that they have only done what they should have but I say they did it - my issue is what others in the FSA and the Ombudsman Office have NOT done. They should be on the ball and keeping us informed.

I hope I never have to go through the same experience I have had this last few days ever again. We are not out of the woods yet but I feel that I can see a clearing and I'm grateful for that.

Please keep posting guys and let us all know what's happening. This forum has been a great help. Fantastic job to all of the posters.

azucena

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.

Thank you!

northern5

mobfant wrote: »

Many reasons including - they need some form of contingency funds, they might receive tax in April (or whenever) but they won't be paying for all services on the same day they receive taxes, but throughout the year and longer for longer-term investment programmes.

True ... so if they don't get this cash back then things are going to get messy! I live in Islington north London,not sure if they're affected.. seems not all the councils are coming forward yet

moneyloser_3

Still awaiting my chaps transfer
Have just spoken to my bank with linked account they tell me they can trace the funds if the bank sending ie KE can supply a copy of a form called "MT 103" which holds all the info as to the route that the funds are taking.

I then eventually got thro to "Carl " at KE he assured me that the trnsfers were being processed(although I have been told for the last 2 days that the funds would be in linked account that same day).When I asked for a copy of the MT103 he left me on hold to speak to supervisor came back and said headoffice was unable to supply this info as yet, he said supervisor would call back before end of business today(i wont hold my breath)

procedes from home sale involved so i am a little concerned that i may not be able to get new home for my family.....

chairman_miaow

tintin52 wrote: »

Have just got off phone from speaking to someone at HM treasury asking for them to take some action to resolve the uncertainty over these transfers. Have mentioned this site and thread and forwarded a link so they can see for themselves the scale of problem and the concerns that are being fuelled by staff at KE and FSCS giving conflicting views and advice on these transfers.
I am hopeful that someone at HM Treasury will get this resolved for us.

I wish I shared your optimism about HM Treasury !

trevs707

KE Savers – We all need to bring some more focus on this 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="admin@number10.gov.uk"]complaint.info@financial-ombudsman.org.uk
news@channel4.com
admin@number10.gov.uk[/EMAIL]

I have contacted all of the above and I suggest you do the same. As soon as I hear from any of them I'll let you know.

If anyone can add to this list please do so.

FYI:
ING freefone number 0800 561 8840
KE Use either 01159836332 or 01159836331