Kaupthing Edge CHAPS Transfer

kaylor

Have just spoken to ING who are saying all posted transactions will be honoured. There is a delay but will eventually happen. When I pressed them on how long and where the money is. He said they could not give any more information than that given to them this morning.

Told him that last night ING said transactions made before 8th October were not their responsibility, he said all he knew was that they have been told in call centre that all transactions will be honoured. I guess time will tell!

$h@d0w

Made a CHAPS at around 8am Wednesday, still not showing in HSBC account.

savit4l8er

noh wrote: »

Thats not what they did.
They transferred the retail savings business to ING. The bank Kaupthing Singer and Friedlander has been put into administration.
What alternative do you suggest?
Remember they had to find a bank in a good financial position who was willing to take on the liability of the saving accounts.

No offence but we can see how good they are at identifying them. Anyway let us get back to the point, our money.

FridaysVictim

Add me to the list .
I arranged a BACS on Saturday 04/10/08 for execution Monday 06/10/08 . Hadn't been done by 07/10/08 so did a CHAPS for £34k .

The £34k is currently M.I.A. .

No reply to secure message and can't get through on phone .

leosayer

My wife and I have wasted countless hours on hold or talking on the phone to KE and IF or on their websites to find out what is happening with our funds. It is patently obvious that KE are not being honest with their customers. Perhaps the bods at the end of the phone don’t know what the problem is, but I’m sure that someone in the company does and in the meantime this is causing us a lot of wasted time and stress.

I know my money is safe, but I asked for a CHAPS last Thursday 2nd and it still hasn’t arrived yet. It doesn’t feel very safe when the bank can’t release the funds to me. Let me be clear, I need the money, I had planned to withdraw the money for months and last Thursday was the day when I needed it. I have been charged £20 for a CHAPS which didn’t happen. I am losing around £1 a day through not having use of the funds where I wanted it. Not a massive loss, but in the last week the share market had also plummeted causing the value of my ISAs and Pension to decline, along with serious risk to my company and job. I am decidedly jumpy at the moment about my situation and this is just another worry to add to the list.

I would hope that people are only removing their money because they need it, not because they feel it’s unsafe but we can’t help human nature. To the person who is keeping the list of running, good on you. I was pointed to this thread from an unrelated forum and it has given me some reassurance that I’m not on my own.

I don’t have any practical information to add, except to hope that perhaps someone at KE or in the press is reading this thread and will get something done to reassure us.

tellustuff

$h@d0w wrote: »

Savers with money held by KSF, that is not related to the Edge internet bank

So that does NOT cover us.

mobfant

iltisman wrote: »

I wonder how many million pounds has been pinched in this disappearing chaps/bacs con. It makes the great train robbery look like chicken feed.

Er, no it doesn't really.

blowupiceland wrote: »

am 99% sure this will work itself out in the next week, but trying to take seep breaths in between stamping on my Bjork and Sigur Ros CDs.

Haha, I'm gutted because I love Sigur Ros so much but I now feel I'm on a level moral playing field because I downloaded the mp3s. Although I did spend a fair bit on one of their concerts. Maybe, for the first time in my life, I'm slightly in the positive - morally speaking.

tellustuff

Thats not what they did.
They transferred the retail savings business to ING. The bank Kaupthing Singer and Friedlander has been put into administration.
What alternative do you suggest?
Remember they had to find a bank in a good financial position who was willing to take on the liability of the saving accounts.

I suggest that they have all the bodies involved armed with the appropriate information and responses regarding money in transit that they knew were in the system at the point of transfer because once in Dutch hands we are no longer under UK control.
So was that looking after our interests? Its actually called washing our hands of your interests. Only the business side of it is now under the safety of the UK government.

trevs707

formulaonefan wrote: »

What's the working lunch details?

[EMAIL="working.lunch@bbc.co.uk"]working.lunch@bbc.co.uk[/EMAIL]

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="working.lunch@bbc.co.uk"]complaint.info@financial-ombudsman.org.uk
news@channel4.com
admin@number10.gov.uk
working.lunch@bbc.co.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