Kaupthing Edge CHAPS Transfer

Ninetails

behelzebub wrote: »

I sent a CHAPS requested for (well over £50K) yesterday @11:00 and still to this moment (10:35) have not received in Lloyds TSB. I rang KE this morning and it was engaged, tried several times and got through with recorded message for about 20 minutes. When I got through it was business as usual (BAU)...

I personally don’t have any concerns with KE, I simply want my money out of an Icelandic bank. I reckon I’ll now put the money into B&B as they are now under Santander

Sorry to snip your post. I did exactly the same at the same time yesterday, so understandable about the backlog. Linked bank could not see any deposits pending this morning.

Tried all morning to get through to KE but they're constantly engaged. So, thanks all for passing on what KE have told you about CHAPS. Still have KE account open for when things settle down.

I'm also thinking of B&B as Santander looks sound, but who knows...

behelzebub

KE Customer Relations mentioned that the reason for the backlog, apart from the obvious, is that each CHAPS transfer has to be manually checked before processing

cshowell

azucena wrote: »

Has anyone managed to contact Kaupthing by phone today (8 Oct)? I transfered money by BACS on Sunday and it has not reached my linked account.

Hello

I just spoke to Kaupthing a couple of minutes ago. It took 20 minutes of redialling and a 30 minute hold to talk to someone (guess how much they are making out of that call!)

I put through a CHAPS transfer last night, expecting it to go through sometime today. However, when I logged in a couple of hours ago, the money was still there (cue panic!) The lady I spoke to said that so many CHAPS transfers had been put through yesterday that the system was clogged up and there is a 24 hour delay - so I can expect to see my money being moved tomorrow. Annoyingly, it would have been just as fast to do it by BACS and not cost me £20. However, as long as I get the money back I am not overly worried (having got £35k from my house sale frozen with Icesave).

Anybody else made any progress?

gomann

KE Offshore, IoM ...

Monday @ 1300 - routine BACS request for £5000 to linked account.
Monday @ 1920 - I twitched, and went for £20,000 CHAPS transfer, leaving £5000 as a foothold.

Tuesday @ 0900 - the BACS request was not showing as a pending transaction.
telephone, web-massage and email all impossible.
Tuesday @ 1000 - remembered to tell BOS(I) to stop sending their interest payments to KE as the linked a/c :cool:
Tuesday @ 1900 - £20,000 CHAPS transfer nestled in the arms of Lloyds, pending decision on its future. I slept better!

Wednesday ... trying to absorb masses of conflicting information :rolleyes:

12:30 Huzzah ... the £5000 BACS is airborne as well ...

qwe3333

still waiting,

Chippy99

After much soul searching, decided to withdraw £31,000 from KE this morning at 8 a.m. by CHAPS transfer.

With the talk in this thread of the CHAPS withdrawals being handled manually, this raised the dreadful thought in my mind of what happens if they mess it up and send the money to the wrong payee (especially given the enormous stresses and workload their staff must be under).

Does anyone have a view on how on earth you would get your money back if KE cease to exist? I am probably worrying too much, but £31,000 is a LOT of money to me!

philtheclick

Just noticed that KE (as well as Heritable Bank) are to be bought by ING where deposits up to €100,000 will be guaranteed by the Dutch government - http://www.timesonline.co.uk/tol/money/savings/article4905914.ece They say all deposits will be safe. Let's see...

That may explain why I am still waiting for my CHAPS transfer from early yesterday to appear in my linked account.

yowza

I actioned an online CHAPS withdrawal from KE about 11.30am Tuesday. The account showed it had been withdrawn by mid-afternoon. BUT still waiting for it to appear in my linked bank account at 1pm today Wednesday.
32K in limbo. I hope it isn't caught in the net and transferred to ING Holland.

yowza

From the mouth of Adair Turner head of FSA on BBC R4 1pm news:
[paraphrase] We agreed that Kaupthing FS was insolvent this morning. But no need for compensation for savers because deposits transferred to ING.

Ninetails

It begs the question for those transfers in limbo whether they are covered by the guarantee? Does anyone know who is responsible at which stage of the process? Once it leaves KE and not yet in the receiving bank, whose is it?