Kaupthing Edge CHAPS Transfer

hometune

Chilledout50 wrote: »

has anyone any idea how long CHAPS would take to show if ING had been putting the CHAPS transactions through over the weekend and hence hit the system Monday morning. If we know this - it would be the time to start making a fuss

If they have been initiated and released over the weekend they should show at a receiving bank first thing monday. I think apacs starts at 8.0am in uk. If it's coming your bank should see in their own system about two hours before its cleared into your account.

bigg

hometune wrote: »

Are you going to try ING first? I would vote for ING at 9.0am if we've all satrted posting that we havn't seen any funds and then 10.am to the media if ING don't respond with believable explanations. Just my idea and i welcome others opinions.

I would give it till the close of business tomorrow night and see what announcements or transfers have happened. Then we can all compare notes during the evening and decide on the way forward.

I can’t see any harm in sending them the list but keep it friendly until we debate our strategy tomorrow night. The best thing for them is if we all split into small groups or individuals. We're much stronger as a combined cohesive unit all singing from the same hymn sheet.

.

sph1971sph

Chilledout50 wrote: »

has anyone any idea how long CHAPS would take to show if ING had been putting the CHAPS transactions through over the weekend and hence hit the system Monday morning. If we know this - it would be the time to start making a fuss

When I sold my house it was sent as a CHAPS mid morning but didn't show until about 2pm in my Natwest current account. I'm waiting until mid-afternoon before ringing, unless they email me first with an update (as promised on the web page, for people who don't get paid out tomorrow)

Remember that the money is coming from FSCS for this lot, not out of INGs pockets. I'm confident we'll get it back but they really should have someone posting proper updates as they get them. If they don't want to publicise via the website I'm sure we'd all be happy with an email or a message if we login to Kaupthing ...

bigg

joanniepony wrote: »

I have. Only one from ING last sunday, nothing since. I'm also CHAPs on the 8th.

What did your 2nd one say?

[FONT=Verdana, Arial, Helvetica, sans-serif]To view images from ING Direct please click on the boxes below [/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]INGDIRECT.CO.UK[/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]PAYMENT UPDATE [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Dear Customer [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]You may be aware that a small number of customers have experienced some issues in the processing of payments on their accounts. We are pleased to inform you that we have been working hard to restore normal service for Kaupthing Edge customers and to resolve the issues around these delayed payments. [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]In addition to the payments already made we are now able to confirm that all payments will arrive in their destination bank account by close of business Friday 17 October. There are a very small number of manual payment instructions which are still being processed and will take slightly longer.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Once again we apologise for the inconvenience and distress this delay has caused. It has taken us longer to resolve the issues at Kaupthing Edge than we expected due to the significant disruption caused when the business was taken into administration. Understandably, customers have been asking for clarification on when this issue was going to be resolved but this is the first time we have been in the position to give firm assurances.

If this issue has affected you, I would like to thank you for your patience and confirm that customers will not lose interest as a result of this delay.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Yours sincerely, [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Johan de Wit
CEO, ING Direct UK [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]ING Direct, 410 Thames Valley Park Drive, Reading, Berkshire, RG6 1RH. Authorised by De Nederlandsche Bank and regulated by the Financial Services Authority for the conduct of UK business. ING Direct N.V. is a limited liability company incorporated in The Netherlands. Registered in England and Wales at Companies House: Branch Reference number: BR7357.
ING Direct is a member of the Financial Services Compensation Scheme. [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][/FONT]










******************************************************************************************************************** This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager.
This footnote also confirms that this email message has been swept by an antivirus scanner for the presence of computer viruses. ING Direct NV is a limited liability company incorporated in The Netherlands. Registered in England & Wales, Branch Ref BR7357, 410 Thames Valley Park Drive, Reading, Berkshire, RG6 1RH. ********************************************************************************************************************

Chilledout50

Just had a look at the Motley fool forum and someone else has the same mail from ING. Have put a post asking what date and method - wtg response

tmvc2007

Chilledout50 wrote: »

has anyone any idea how long CHAPS would take to show if ING had been putting the CHAPS transactions through over the weekend and hence hit the system Monday morning. If we know this - it would be the time to start making a fuss

CHAPS payments are Real Time Gross Settlements between banks. They are also known as Same Day Value Payments, as they are just that- settlements on the same day.

This means that once the money has debited one bank, it should be in the beneficiary bank within minutes, provided all payment details were correctly input by the senders bank.

Generally, there is only a charge by the bank for sending the payment.


It will arrive anytime between 6am and 4pm.

Sometimes, your bank will give a call to let you know that the CHAPS payment has arrived in your account, depending on what the sender asked for.

Please note, CHAPS Payments are irrevocable, this is why solicitors use them for house payments. They cannot be recalled or reversed.

Thought this might be helpful (or not!)

Babu

joanniepony wrote: »

I have. Only one from ING last sunday, nothing since. I'm also CHAPs on the 8th.

What did your 2nd one say?

I've received 2 messages from ING.

The first e-mail was on 12th October and was titled Kaupthing Edge Savings News.

The second e-mail was on 15th October and was titled Kaupthing Edge Payment Update.

Chilledout50

tmvc2007 wrote: »

CHAPS payments are Real Time Gross Settlements between banks. They are also known as Same Day Value Payments, as they are just that- settlements on the same day.

This means that once the money has debited one bank, it should be in the beneficiary bank within minutes, provided all payment details were correctly input by the senders bank.

Generally, there is only a charge by the bank for sending the payment.


It will arrive anytime between 6am and 4pm.

Sometimes, your bank will give a call to let you know that the CHAPS payment has arrived in your account, depending on what the sender asked for.

Please note, CHAPS Payments are irrevocable, this is why solicitors use them for house payments. They cannot be recalled or reversed.

Thought this might be helpful (or not!)

I think what you are saying is that it could be up to 4pm before we know if they were done over the w/e - in which case my thoughts are a waste of time because i dont think we should wait till 4pm

sph1971sph

bigg wrote: »

I would give it till the close of business tomorrow night and see what announcements or transfers have happened. Then we can all compare notes during the evening and decide on the way forward.

I can’t see any harm in sending them the list but keep it friendly until we debate our strategy tomorrow night. The best thing for them is if we all split into small groups or individuals. We're much stronger as a combined cohesive unit all singing from the same hymn sheet.

.

Completely agree - time to use the collated data at that point. When I rang the FSCS at the start of all this I had a long conversation. The nice lady reassurred me and said to wait but said ultimately if I was getting nowhere I should start the ball rolling by formally asking Kaupthing to trace the transaction. I was told they would be able to do this and indeed should do if it was formally requested. As I say I'm holding fire for now but if we don't get a proper update it's a course of action to consider.

ontherun_2

oldmanof_the_sea wrote: »

No, just someone sick of listening to whingers who put a run on KE and then want the rest of us to feel sorry for them.

This obviously does NOT effect you!!.............No one is asking you to read this thread. If it bothers you in such a way, I would assume that this is the last place you would like to frequent your time!??!