Kaupthing Edge CHAPS Transfer

tellustuff

STOP PRESS. Updated 10.00pm Thurs 9 Oct. Kaupthing Edge savings bought by ING Direct

I feel confident now we are in capable hands!
:rolleyes:

nottttt!

MABLE

allanmc wrote: »

Just off the phone to KE customer services and they advised that they have a payments backlog and it WILL be processed. They estimated that my cash, transferred on Monday and Tuesday, should start arriving in my current account on the forthcoming Monday or Tuesday. In the current circumstances, they estimate a 5-6 working day period for it all to happen. I am sorry, but I didn't ask about CHAPS.

Don't know if that is a proper fact, or they are just passing on meaningless, reassuring mesasages. I will give them the benefit of the doubt.........until Tuesday.

Chin up, everyone.

Im going to accept this explanation is correct because it makes me feel better. Whether it is true is another matter.

LIT_2

Just got off the phone with ING. I was passed up the line of customer service agents to a supervisor. He stated that KE became effectively unable to trade from the end of last week. He confirmed that whilst ING only took control of the bank at 10am on Tuesday, all transfers out of KE which were attempted between the point at which KE could no longer function and the point at which ING took over would be honoured.

In other words, ING will backdate its reponsibilities and all transfers, including those initiated before Tuesday, will go ahead. It seems that further delays are likely, however, as ING has to manually check each transfer request for some reason.

CAVEAT: whilst I was very careful to ensure that I fully understood the situation, this was a verbal assurance only. I suggested that ING might care to confirm as a matter of urgency and in black and white (well, black and orange...) the security of ALL transferred funds.

dmd22

Hi there,

I can also confirm that BACS payments into KE are working in the normal timeframe (Actioned on Mon 6th, showing today). Like many others I'm also awaiting a BACS Payment from KE, actioned on Tues 7th, showing as withdrawn on Weds 8th. I will try to stay positive until this time next week (Delayed 5 full working days BACS timeframe) - fingers crossed...

dmd22

allanmc

zippygeorgeandben wrote: »

allanmc - that's what i've been trying to tell people. If you did BACS on Monday or Tuesday, don't expect to see it until 5-7 business days.
On the KE site it states usually 3 days. The big word there is usually. This is an extremely unusual situation so hold fire people please!
Ben

Yes ZippyGeorgeandBen, I was just trying to confirm what you had said to try and help calm people down a bit.

Until next week, watch this space..................................

Gwhiz

euroaccountpls wrote: »

theres no back log... its a dam. and hopefully it will break soon. and we will all get flooded. you may even end up with more money in your account than you started with.

We can but hope

MABLE

allanmc wrote: »

Yes ZippyGeorgeandBen, I was just trying to confirm what you had said to try and help calm people down a bit.

Until next week, watch this space..................................

It should not be a contributors job to calm the rest of us down. It is ING/KE to post something on their website advising what the situation is and not left open to speculation.

Anyway I for one thank you for all your help and am now going off for a shower and a sleep before dinner.

kasbridge

LIT wrote: »

Just got off the phone with ING. I was passed up the line of customer service agents to a supervisor. He stated that KE became effectively unable to trade from the end of last week. He confirmed that whilst ING only took control of the bank at 10am on Tuesday, all transfers out of KE which were attempted between the point at which KE could no longer function and the point at which ING took over would be honoured.

In other words, ING will backdate its reponsibilities and all transfers, including those inititated before Tuesday, will go ahead. It seems that further delays are likely, however, as ING has to manually check each transfer request for some reason.

CAVEAT: whilst I was very careful to ensure that I fully understood the situation, this was a verbal assurance only. I suggested that ING might care to confirm as a matter of urgency and in black and white (well, black and orange...) the security of ALL transferred funds.

Thanks for this, this seems very significant.

I have just called the Treasury and complained about the lack of clarity also, let's see if I get the promised call back.....
K.

Chippy99

LuKeNuKuM wrote: »

hi Chippy,

this is a very good point and not one i'd have much of an answer for. if you were torturing me to give you answers i'd probably say the website itself would have started to suffer under the volume of transactions and the refresh or 'live' status of people's accounts could have be delayed.

Nope. The website's been fairly responsive. I logged in at 8 a.m. and did the transfer and I kept checking throughout the day (5 or 6 times) both the balance screen and the transaction log and there was no activity, just my £31k balance. Then sometime between 8pm and 11pm, the money disappeared. I can't see why this took 12 hours to happen. Very odd.

behelzebub

After sitting in front of my laptop all day, with life savings in KE, and as there’s clearly still no positive news, I think a nice pint of beer (or 2 or 3 or ..) would suffice !