Kaupthing Edge CHAPS Transfer

Gwhiz

trevs707 wrote: »

Pleas wake up and smell the coffee.

Oh I am well awake thanks! Just amused by the fact that people feel the need to email/text/write/fax to every institution they can think of before we give KE/ING an opportunity to inform of of what's going on.

Maybe I'm just a little more laid back about all this

BMagwood

It's cobblers that they are worknig through a backlog - not one person posting on here has received a payment today.

welovedarling

Here's where I'm up to.

200K taken out of KE account by myself Saturday, money deducted, CHAPS fee deducted Tuesday this week. No money has come into destination account.

Fixed term accounts held with KE that I asked to break out of on Monday show in my cash account today (Thurs). Have withdrawn further 80K this morning, via CHAPS. KE website 13:45 shows withdrawal and CHAPS fee.

I'm feeling a lot more secure now that ING are involved so I'm just now going to hold tight. Question when will the powers that be that stopped KE accounts unfreeze them again?

I shall let you all know what happens. Others in the same boat please do the same.

genny

Went to watch working lunch in the staff room at 1:30pm... as advertised on their website http://news.bbc.co.uk/1/hi/programmes/working_lunch/7660856.stm only to find it was actually on at 12:30... great stuff BBC.

Was there any discussions about KE/BACS/CHAPS?

OhPoopy

From this link posted earlier:

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

Q. What will happen if I try to make a payment from my Icelandic bank account?
A. Payments to and from a number of Icelandic banks (including Icesave, Kaupthing Edge, Heritable and Landsbanki) have been suspended. So you will not be able to make payments from accounts with these banks at present.

I don't think their answer is entirely accurate as I managed to transfer £20 into my KE account via bacs. The transfer was initiated Tuesday and completed today.

philiprn

Interesting to note that the KE website still offers the chance to withdraw your cash - same day for the CHAPs fee of £20.

Chippy99

LuKeNuKuM wrote: »

hi Trevs,

i don't know if you've seen it but have a quick squizz through my theory...

http://forums.moneysavingexpert.com/showpost.html?p=14837079&postcount=439

i think you're right, the system in general is fine *but* i believe it's the pre-process at KE end which is causing the hold up. put it this way, it's highly likely a bank would have a safe-guard in place to scrutinise payments out of accounts - it's in their interest to control the flow of cash outward, i believe this is the system that is holding up our transfers - once they get through this queue they'll hit the real bacs/chaps network.

I am sure this is correct, or close to it.

The one thing that puzzles me however, is why some people's CHAPS instructions instantaneously reduced their account balance, whereas others did not. My CHAPS debit request took 12 hours+ to even reduce the account balance, let alone actually transfer any more anywhere.

Thankfully for me I have a printout of my statement *after* the ING takeover that still shows my money in there, so I can argue with ING about what *they* have done with my money, if it were to come to it.

MoneySaverROI

BMagwood wrote: »

It's cobblers that they are worknig through a backlog - not one person posting on here has received a payment today.

You don't know this is this true. I expect there are plenty of people who have made chap transfers which do not frequent this thread and whome might have recieved their money.

What I will say is, add me to the list. I made the request around 11am yesterday and it is yet to arrive in my linked account. Furthermore, there is a "transaction id" 00000005XXXX assigned to this chapsfer and I am wondering if this is just the reference number or something that comes from tha chaps system itself?

kaupthingedgy

add me to the list

TypeR

Good news - direct communication with someone in the know at ING. I've had a convo and basically the system is under alot of pressure currently and there is a back log (as mentioned in previous posts)

Thank you, <<name>>.

Please find the very intense 24 page thread going on at the money saving expert forum.

http://forums.moneysavingexpert.com/showthread.html?t=1205063

Something to keep an eye on and if you have a brave soul over there, maybe someone would like to touch base and register with a community of people who would really appreciate up to the minute updates.

Thanks again

---

Original Message

---

From:
Sent: 09 October 2008 13:53
To: Subject: Kaupthing Edge and ING Direct
Importance: High


Dear



Thank you for your email.

For your protection we are unable to action your request as we cannot accept email instructions relating to your account. In order to operate your account you would need to verify your identity which can be done either on line at wwww.kaupthingedge.co.uk or by contacting our call centre on 08451 31 32 34 and using your XXXXXXXXX


As you may be aware on 8 October 2008 Kaupthing Edge UK was acquired by ING Direct and we are currently receiving a high volume of calls. We apologise that we are taking longer than usual to answer and therefore we thank you in advance for your time and patience.

We would like to reassure you that your savings are safe. Your savings are with ING Direct which is the worlds leading direct savings bank and part of the Dutch based ING Group which is one of the worlds largest banks with assets in excess of £1 trillion and 85m customers. In addition your savings are protected by the Dutch Deposit Guarantee Scheme which guarantees the first Euro100,000 (approx £77,000) of an individual’s savings.

We are working to quickly to ensure it is business as usual for all customers. All transactions that have been posted will be honoured although there is a slight delay as we go through the transition phase. One of our top priorities is to get those transactions going through as quickly as possible.


If you wish to make a transaction you can access your account in the usual way, online at www.kaupthingedge.co.uk or by contacting our call centre on 08451 31 32 34 and using your XXXXXXXXX

Further information about ING Direct and the acquisition of Kaupthing Edge UK can be found on our website www.kaupthingedge.co.uk