Kaupthing Edge CHAPS Transfer

miserable_ol_so_n_so

EliTom wrote: »

I agree with you - the first priority is to get our money back.

I was just making a point that ING have handled this very badly, so I would not expect things to get any better once they have sorted out the accounts. They are going to want to walk away - after all we will not be current or even potential customers.

EliTom

Theyd be stupid to walk away from customers.......there s a lot of long term money they could attract by giving us the service and retaining our custom. I for one wouldnt mind leaving my money with ING, but not when its customer service is so poor that no one can look at your transaction and tell you what has happened to it!
I shall not invest with ING, except accidenatally/reluctantly like right now.

jemimapd_2

I WAS thinking of putting it back into ING, but no way now! Tis National Savings for me til I have a chance to calm down!

poodlediva

I am afraid that I predicted this last week. many of you came down on me for being cynical but I just knew it wouldn't come. They have been lying and making false promises since this debacle started. Why would it suddenly change now?

The theory that they just were overwhelmed by the backlog is ludicrous. The BACS that arrived yesterday were all initiated days ago. That left them free yesterday to concentrate on chaps. Had that been the case, all the chapsters on this thread would not be tearing their hair out. The Friday deadline was announced around the same time that the Panorama programme was announced, no doubt to stop a run on ING by scared customers.

Of course it's great that the BACS customers are getting their money but that leaves thousands of us with life savings floating around in the ether. I am sure that the press would take our story now but of course, a run on the bank would not help our case so that's probably not the best route.

Sorry guys...I have no illusions that my money will come on Monday. I am waiting for another deadline to be announced for next Friday, which will no doubt come and go like the others.

I guess we'll get our money somehow eventually, but the wait is painful and bloody unfair.

stevetodd

miserable_ol_so_n_so wrote: »

Theyd be stupid to walk away from customers.......there s a lot of long term money they could attract by giving us the service and retaining our custom. I for one wouldnt mind leaving my money with ING, but not when its customer service is so poor that no one can look at your transaction and tell you what has happened to it!
I shall not invest with ING, except accidenatally/reluctantly like right now.

That's right. I have already said to them that I instigated my long term bonds to be closed whilst it was KE, but I would be happy for my money to stay in with ING. They said it was too late if it was in the system, I am now hoping that the long term bonds were never terminated and that my money is still in them, as shown on the website. However I was told that thew ebsite is out of date and they probably have been cashed in, I need to ring back and get this confirmed.

miserable_ol_so_n_so

EliTom wrote: »

OK folks just thinking about this logically...

those in the know - is the CHAPS system fully automated from the receving banks end.

The reason I ask this is maybe, just maybe this is not all ING's fault.

As we know the BACS system is pretty well fully automated, so maybe ING decided to do these first so that the "majority" of customers woould get their money as quickly as possible, but then even if ING had laid on an army of people to initiated the CHAPS transfers, if these need to be manually processed in any way by the receiving banks, then this also replys of the receiving banks having more people than normal to process the incoming CHAPS transaction, and would every bank and building society have done that - I think not.

Just a thought - I maybe completely wrong but just a thought

EliTom

The cutoff for chaps is 5.00 pm i think. Any receiving bank will process a chaps txn it receives until 5.00 pm, whether its system is 'automated' or manual.I believe chaps txns are between humans at each bank and not automated, but I am not 100% sure about this. We were promissed close of business Friday, and ING failed to deliver.To be fair to ING, they have done a lot of work, but I think, that our transactions are lost. I think our bunch of transactions were put aside as a batch, and they have forgotten all about them. Perhaps the KE worker has left employ etc etc. The only way forward (unless the money arrives on monday morning), is for each individual transaction to be traced by ING. Its possible that when they trace one, they will realise there are a whole load of others, ours! Crucial therefore for one of us to communicate with ING until they trace one txn.

poodlediva

I think it's automatic. I know Abbey's clearing dept close at 5pm, but we received a chaps payment a couple of weeks ago at around 7pm.

dutch123

miserable_ol_so_n_so wrote: »

The cutoff for chaps is 5.00 pm i think. Any receiving bank will process a chaps txn it receives until 5.00 pm, whether its system is 'automated' or manual.I believe chaps txns are between humans at each bank and not automated, but I am not 100% sure about this. We were promissed close of business Friday, and ING failed to deliver.To be fair to ING, they have done a lot of work, but I think, that our transactions are lost. I think our bunch of transactions were put aside as a batch, and they have forgotten all about them. Perhaps the KE worker has left employ etc etc. The only way forward (unless the money arrives on monday morning), is for each individual transaction to be traced by ING. Its possible that when they trace one, they will realise there are a whole load of others, ours! Crucial therefore for one of us to communicate with ING until they trace one txn.

That is what tmvc2007 on post 4353 is compiling a list of transaction numbers. so if everyone emails them - [EMAIL="lovelife42@hotmail.co.uk"]lovelife42@hotmail.co.uk[/EMAIL] then we will at least have one source of info for people who are still missing money. At the last count they had 33 and I am sure there must be many more...

McCleod

I am too waiting for 36k from Kaupthing manual CHAPS initiated on the 7th, eventually mae on the 9th and o course still not received

For me the real problem is of communication. ING have not been honest and communicating clearly to us and ironically to Kaupthing. I too was thinking of going back to KP but KP and ING are a joke nd have no chance of retaining my business.

I have called them many times and although they are very professional Kaupthing have no idea what is going on and as I said to a senior Manager yesterday what is the point of answering the phone if you can give us no information? Kaupthing is impotent.

I would also like Martin and the MSE site to take issue with ING/KP over this immdiatelt however they are indeed very quiet.

I am pursuing a formal complaint via Kaupthing, does anyone know if I an pursue via the FSA regarding this?

fredthrung

Dancingbear wrote: »

"Sent: 17 October 2008 20:03
To: 'savings@ingdirect.co.uk'
Subject: RE: Kaupthing Edge Payment
Importance: High

There is nothing yet in my linked Lloyds TSB account, from a transaction initiated on 8 October for action on 9 October, using CHAPS. Your comment by return, please.

(my full name)
(my address)"

No reply (and nothing, still, in my linked bank account). This is how ING Direct welcomes a 'new customer'?

Nice one DancingBear. I've taken the liberty of following your example and I've copied Richard Doe of Marketing at INGDirect. I included this:
"Do you not understand what a PR disaster this is for INGDirect? Along with many others I would have been quite happy to continue with ING, but I now have no intention of doing so. It isn’t the delay that is making people worried and angry – it’s the contradiction between your words and deeds and the lack of up to date accurate information."

I also suggested they keep an eye on this forum.

Dancingbear_2

McCleod wrote: »

...
I am pursuing a formal complaint via Kaupthing, does anyone know if I an pursue via the FSA regarding this?

Your first move, I suggest, is to email [EMAIL="enquiries@fscs.org.uk"]enquiries@fscs.org.uk[/EMAIL]. The FSA will not take up individual consumer complaints, as I understand it.