Kaupthing Edge CHAPS Transfer

zaccy

From the APACS link kindly provided by sloughflint.

"Q. I made a payment from my Icelandic bank account and the payment hasn't arrived, where is my money?
A. Your money will not have left your own bank and it is more than likely that your bank is in the process of putting that money back into your account so you will be able to see the updated status of your account when you next log onto your account online."

http://www.apacs.org.uk/Icelandicbanks.htm

And I was only told an hour ago on the KE helpline that my BAC payment would go through to my linked account.

trevs707

Gwhiz wrote: »

Do you not think we should all stop panicking (well actually I am not) and wait a few days to see what happens.

There was obviously a mass of transfers and the system (s) just can't cope.

Maybe we should wait 5 days and only post when the money arrives at it's destination. I see no benefit from all these postings of worry when this is all so recent!!

Just my 2p

I am sure you are much too clever to actually believe the crap that ING are feeding you about a backlog and the BACS & CHAPS system being overwhelmed.

FACT - THEY have placed a stop on your transaction.
FICTION - BACS & CHAPS system are overwhelmed.

Gwhiz

trevs707 wrote: »

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="news@channel4.com"]complaint.info@financial-ombudsman.org.uk
news@channel4.com[/EMAIL]
[EMAIL="admin@number10.gov.uk"]admin@number10.gov.uk[/EMAIL]
[EMAIL="working.lunch@bbc.co.uk"]working.lunch@bbc.co.uk[/EMAIL]
[EMAIL="ministers@hm-treasury.gsi.gov.uk"]ministers@hm-treasury.gsi.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

What are you complaining about? That in the middle of a potential global banking meltdown your money went missing for a few days? :rolleyes: Patience my dear man, patience!!!

Ippylady

I spoke to a very nice man at CHAPS, he informed me there is no hold up at all with transferring money via CHAPS, and advised me to go back to Kaupthing Edge.

welovedarling

So, according to APACS all payments from KE have been suspended. Fair enough, then, why are KE not telling us that? ING - you say business as normal so please get payments opened up again.

How can they clear the backlog if payments are suspended!!!

Who gets paid first? Those in the backlog - like me who had money taken out of their account days ago. Or are they going to put everything back in, then freeze all accounts to let things cool down, then let us decide if we want to make withdrawals?

Please keep up the pressure guys and keep posting anything you find out.

trevs707

Gwhiz wrote: »

What are you complaining about? That in the middle of a potential global banking meltdown your money went missing for a few days? :rolleyes: Patience my dear man, patience!!!

Pleas wake up and smell the coffee.

Sebby*

To be fair, we are to blame to some extent. Icesave I can understand, but savings with KE are safe (I think).

loveabargin

Hi people

I spoke to the fscs today and asked them where my money could be (a chaps transfer to my linked account that has not got there) as KE told me first thing this morning that they dont know where it is.

The fscs said that as I made the chaps payment on the 7/10/2008 the money is in a suspended account at KE that the administrators are dealing with and had I not made this payment the money would be in a ING account.

I ask the fscs will I have to make a claim with you for the recovery of this money he said it looks that way at the moment and then assured me that I will get it all back.

I'm happy that my money is not with another passport scheme but fustrated that it will take sometime to get my money back from KE and Icesave.

I just hope he was telling the truth after all the bull s..t we have been given in the last few days.

So I have sent fscs all my statements and asked them to start proceedings to recover all the money in these accounts. Now awaiting there response.

Terrysdelight

My BACS from Monday, Chaps from Tuesday and Wednesday still not gone through.

Money has left my KP account and not been credited back. I have been assured that my transactions will be honoured and that there is a large back log. The could not confirm when the payments would go through. I'm exchanging on my house on Monday so could really do with the peace of mind that I will get money tomorrow at latest!

Anyway - it's nice to know it is safe.

Terri

mletters

This is crazy!!! Our money suspended in

1/ Cyber Space
2/ Stuck with Kaupthing Edge
3/ An admin account somewehere
4/ No mans land?

Who knows...

That's the problem. NOBODY seems to know.

I must admit, I reacted out of gut instinct, zero'ing my KE balance, after hearing the news of the take over yesterday. My reason for doing it? The compensation cover for ING going 'South', means applying to some Dutch authority that is out of our Country and out of our control.

Yes, I know they (ING) are giving all the facts and figures about how safe they are etc.etc., but in the cold light of day, how safe is any financial institution at the moment! Also, rewind to just over a week ago, and all the website reassurances from KE! Now look where we are :-(

So far today.

I contacted KE first thing, was assured that CHAPS transfer made last night (although not taken until today) would be honoured, although there is a delay. They didn't Zero my KE balance until first thing this morning.

Contacted KE again just before lunch time to see if there is any change, advised no change, just delay. No guarantee if or when money will arrive in linked bank account.

Contacted APACS (via website) only to be re-directed to FSCS.

FSCS say we've to wait upto 5 days (even for CHAPS transfer!), and if nothing arrives, then to contact KE again.

Easy for FSCS to say, 5 days of sleepless nights and uncertainty seems like an eternity.

Well, I'm off to rock gently backwads and forwards in a corner somewhere. Anyone Care to join me? ..........

P.S I've emailed HM Treasury & Financial Ombudsman. No reply as yet (apart from standard auto-reply).

I thank my lucky stars that I'm alive and breathing and still have a sense of humour. That's important right now. It's just the uncertainty that is the worrying bit. It's true, Fear breeds off Fear. Funny how the human brain works. Try to switch off from all this. It may take time, but it will be sorted.

Mike.