Kaupthing Edge CHAPS Transfer

cshowell

Cheer up time! Just got sent this as have been suffering severe morning sickness and it made me smile and for a few minutes I forgot about how broke I am! However, I found a lost dog this week and got a bottle of wine as a reward so I'm thinking of taking up a career as a dognapper!

Have a smile, it will make the time pass quicker (the bear on page 2 is hilarious!)

http://icanhascheezburger.com

goodethernet

bigg wrote: »

5% = 8000 people

Yes, assuming ALL 160,000 people tried to get money out. My point is that, whatever the total, I think 6/7/8 October would have been more than 5%, that's all.

tmvc2007

fredhaben wrote: »

The transfer was effective as of 12.15 p.m. on 8th October. See para 1(2) of the Order. All withdrawals after that time were entered into with ING directly, and there are several of those that are also pending (in the ether, as nomorekids' kids would say). CHAPS from both before and after the transfer date are missing. And ING know that CHAPS requests have not gone through - they have said several times that CHAPS fees will be refunded.

Any road, we'll soon know for sure, because they've now said they'll contact everyone who doesn't get their money by Monday and let them know what's up. Hopefully, none of us here will be amongst that number. :grouphug:

For such a sensible post which helps us all stay balanced. Let's be honest, we don't really believe we won't get our money back but sometimes it's hard to remember that when all you can see is a zero balance.

goodethernet

bigg wrote: »

5% = 8000 people

Yes assuming all 160,00 customers tried to get money out. I just think that CHAPS on 6/7/8 October woud be way more than 5% of the total volume.

Anyway as somebody said above, the 5% number is probably made up.

...."shall we go for 80/20?".....
...."Nah too obvious".......
...." how about 95%?"........
...." yeah that sounds like we are on the case. Stick it on the website"....

Haider

http://news.bbc.co.uk/1/hi/business/7679021.stm
only one correction
500m euro ($670m; £387m)

bonnybilbo

UnhappyHarry wrote: »

Add your comments here as well:

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=455706&in_page_id=7&expand=true#StartComments

The more negative publicity the better....

Have sent off angry message to be posted on website!As you rightly say.Ing can well do without more bad publicity.

hometune

The statements of call centre staff that chaps payments will be refunded can't be taken as knowledge that chaps requests from 7th and 8th were still outstanding. It's possible they were refering to those requested on the 9th or after 2.0pm on the 8th before the accounts were operable by ING but after the KE was frozen.

As reiterated by many posts here, we are only being told what senior staff within ING think we need to be told, Junior staff are only a mouthpiece for those who are really in control.

tintin52

Just got back from being away since Friday am and can't believe that, like many of you, I seem to be back where I was almost 2 weeks ago with CHAPS payment still missing and no idea when it's going to show up.
Just hoping tomorrow brings some proper and unambiguous clarification from ING about when all these missing CHAPS payments will be processed.

Chilledout50

Hi all - just joined the forum - have been on the Motley one until now. Seems this one is more informative - or should i say more doom and gloom.

Just sent details of my CHAPS transfer by e-mail for inclusion.

dag_2

I do hope no-one thinks this is an "I told you so" post, I really don't mean it to sound like that; it's just that my current (idle speculation) theory is that there has been more than one reason why the transactions have been held up.

My theory is that transactions that were scheduled for after the ING takeover were held up simply because there were loads and loads of them, and there was a backlog (and one of my own withdrawals is caught up in this too). However, the transactions that were scheduled for before the ING takeover either bounced or were never sent, but since they were deducted from the KE accounts anyway, the money is now in the hands of the KSF administrators.

Actually, the one thing that goes against this whole theory is that I find it hard to believe that CHAPS on 6/7/8 October would only represent 5% of the total volume of incomplete payments that ING picked up.

You can't assume that it's a given number of people just because they think it's 5% of the transactions. Some of the people may have made more than one withdrawal. This means that if each person has attempted to make, on average, at least 20 separate withdrawals from their KSF accounts, then it's theoretically possible for that 5% of transactions to affect the entire Kaupthing Edge UK customer book. It's certainly possible that the affected 5% of the transactions may have been made by well over 5% of the customer base.

And the nature of the MoneySavingExpert forum being what it is, I suspect that we have a disproportionately large number of the people who have made those early transactions in this thread, when compared to the entire KE customer base. Course, I can't prove that, but it's a thought.

Anyway - keep in there folks, thanks for the posts. :A