Kaupthing Edge CHAPS Transfer

Tabsy_2

Joining the debate as the CHAPS transfer I initiated yesterday (07/10/08) at 10:30 still hasn't hit my nominated account either.

I'm pretty sure there must be a backlog of transfers to go through, so rather than add to panic I'd like to say we should all just sit tight and wait - it'll come through.

Ivinda

Well, I tried and tried and tried to get through this morning - I transferred money from KE using CHAPS online yesterday pm and wanted to check what was happening. Eventually got through to a real person. I asked whether withdrawals were going through OK, he said things are taking longer through the clearing banks at the moment, because of volatile situation yesterday. He informed me my money has left my KE account and is now in CHAPS system limbo somewhere... Might take till tomorrow pm. So I guess just have to wait and see...

mjmal51

Terrysdelight wrote: »

My chaps from yesterday has still not arrived - £35K!!! Can't get through to Kaupthing - phones constantly engaged.

Thought it was just me! No chance of them answering the phone. I used chaps for the same amount yesterday and thought that at the very least it would be in my account now. Just spoke to my linked account and they cannot see it in the system. However at least another poster has been told that the money is somewhere in the Chaps system, so will keep checking.

Factor25

The recipient bank should be able to see pending payments the day before they arrive in the destined a/c, check with them. I was worried about a BACS transfer from KE to First Direct who confirmed it would be in my a/c next working day, which it was.

behelzebub

I sent a CHAPS requested for (well over £50K) yesterday @11:00 and still to this moment (10:35) have not received in Lloyds TSB. I rang KE this morning and it was engaged, tried several times and got through with recorded message for about 20 minutes. When I got through it was business as usual (BAU)

The Cust Serv Rep was very professional and explained that the CHAPS system was back-logged and that ALL CHAPS requests would be honoured today. She also said that the £20 CHAPS charge would be refunded, she said just keep checking throughout the day and to call again if not received later today

I personally don’t have any concerns with KE, I simply want my money out of an Icelandic bank. I reckon I’ll now put the money into B&B as they are now under Santander

mobfant

behelzebub wrote: »

I sent a CHAPS requested for (well over £50K) yesterday @11:00 and still to this moment (10:35) have not received in Lloyds TSB. I rang KE this morning and it was engaged, tried several times and got through with recorded message for about 20 minutes. When I got through it was business as usual (BAU)

The Cust Serv Rep was very professional and explained that the CHAPS system was back-logged and that ALL CHAPS requests would be honoured today. She also said that the £20 CHAPS charge would be refunded, she said just keep checking throughout the day and to call again if not received later today

I personally don’t have any concerns with KE, I simply want my money out of an Icelandic bank. I reckon I’ll now put the money into B&B as they are now under Santander

Same as me - transferred money at 11am ish yesterday using CHAPS. Constantly engaged but eventually got a dial tone, waited 20 minutes, then spoke to someone who said it should be in Natwest by end of today but because of unprecedented demand, payments are taking longer than normal. Still slightly concerned though.

nigelF

Good luck to everyone out there. I've got money in KE and it's staying put! I just can't help thinking about the frying pan/fire anecdote so be warned. I'm just pleased I kept my £30k in premium bonds for a few months longer than I was going to...phew....

Tell me - as KE is purely an internet bank, and requires very little staffing and doesn't borrow from other banks etc etc - then why should it be under threat? Is it run as a separate bank to it's holding company?

martinman3

All deposits at KE in the UK have been transferred today to ING Direct
http://forums.moneysavingexpert.com/...html?t=1206261

yowza

I set up a CHAPS withdrawal last night and the money was in my linked account by early this evening. Now just have to decide where is safe to put it. . .

Interesting. I actioned an online CHAPS withdrawal from KE Tuesday morning about 11am. The money was gone from the account early afternoon. I'm still waiting for it to appear in my bank account and it's about 11am Wednesday now.

savit4l8er

I see ING is now acquiring more than £3bn of deposits held by UK savers with Icelandic banks. £2.5bn of deposits and 160,000 customers from Kaupthing Edge.

(See it is mentioned above but may be missed on previous page)