Kaupthing Edge CHAPS Transfer

tellustuff

UnhappyHarry wrote: »

Spoke to the Helpline at FSCS just before 5pm, and she referred me to:

"In the case of Kaupthing Singer & Friedlander, FSCS understands that the accounts of about 3,000 eligible retail depositors did not transfer to ING Direct.

The fool.co.uk artcile says:
"However, Kaupthing Edge and Heritable Bank customers whose accounts are not operated online did not have their savings accounts transferred to ING Direct.
This affects around 3,000 Kaupthing Edge"

So thats nothing to do with the chaps/bacs black hole..

mirfieldx

In the same boat as nearly everyone here and am posting so that any media people reading this will realise how widespread the problem is. £30K BACS on Tuesday and was hoping it would hit my UK Bank Account on Friday but having read this thread am not now that optimistic. I am hopeful it will turn up within the next few days but would appreciate some official comment in the meantime.

Chippy99

I wonder how many people are in the same situation as us?

Last time I looked, there were 100+ people on the list and there's been a whole load more "me too"s since.

And then what percentage of those who have attempted to withdraw money have come on here and posted? A minority, I would think.

I'll be there are between 500 and 1,000 people in this boat.

flibbertigibbet_2

Add me to the list of non arrivals. I asked for a BACS on Tuesday and a CHAPS today. I was charged the twenty pound fee but have yet to see either amount re-appear.

I'm self-employed and the money in KE is my income till April (transferred there because my small business account exceeded the guaranteed sum and I was trying to protect myself!). Most of what I'm left with now is money in the business account put aside to pay corporation tax and if I dip into that I'll slip into the higher tax bracket and lose a high proportion of that too. Do you think the goverment will let me off if there is a significant delay and I'm forced to use that while I'm waiting?? Hmm, dream on....

I'm going to run out of funds at the end of the month and then what? Kid's premium bonds here I come!

Fingers crossed they are as good as their word because I'm rattling the piggy banks already.

hellyboo_2

Good luck guys and thanks. Yes I guess one of the main worries on this thread which I have been following since the start is the "ether" money which is in neither account and was moved just before ING took over.

trevs707

Please see the message below that I have received from C4 News. I will not be able to do this as I have commitments that I can't get out of. However, if anyone wants to take this offer up please PM me and I will pass on her contact details;

"I work for Channel 4 News. Thank you for getting in touch with us in what must be a very stressful period. We're keen to speak to you about your experiences, perhaps as an interview tomorrow morning - friday - for our lunch and evening programmes. Crucially, are you in London and would you be prepared to be interviewed?
Thank you,
Victoria"

In_a_state

FSCS protection for savers at Heritable and Kaupthing Singer & Friedlander (9 October 2008)

The Financial Services Compensation Scheme (FSCS) is helping to safeguard retail deposits held by approximately 180,000 retail customers of Heritable and Kaupthing Singer & Friedlander.
The move comes after the Financial Services Authority announced yesterday (8th October) that the firms had gone into default.

Heritable is a subsidiary of Landsbanki Islands hf, and Kaupthing Singer & Friedlander is a banking subsidiary of Kaupthing Bank. Both banks were declared in default by the FSA, and the default declarations have triggered the protection of FSCS.

The Treasury has used its powers to transfer the accounts of the majority of Heritable's retail depositors, and the Edge depositors of Kaupthing to ING Direct. Eligible retail depositors whose accounts have not been transferred to ING Direct will be compensated through FSCS.

In the case of Kaupthing Singer & Friedlander, FSCS understands that the accounts of about 3,000 eligible retail depositors did not transfer to ING Direct. FSCS will contact these depositors directly in the next week with the help of the administrators and send them an application form to claim compensation.

In the case of Heritable, FSCS understands that less than 100 eligible retail depositor accounts have not transferred to ING Direct. FSCS is confirming the number and will be sending these account holders an application form to claim compensation early next week.

For more information, please watch our website or call our helpline on 020 7892 7300.

Please note that due to higher than usual demand it may take us longer to answer your calls and emails. We apologise for any inconvenience this may cause.

Excuse me if it's a repost...but I hope I'm not one of the 3000.

Charles1968

I think the total amount of money stuck in the system could be enormous. There was a silent run on Kaupthing over the last week, conducted entirely through BACS and CHAPS transfers, and judging by this thread almost none of the money has got through. Given the panic over the icelandic banks, it's quite reasonable to suppose that depositors tried to withdraw the majority the banks funds. That's a lot of money to get "stuck in the system".. and quite a temptation to kaupthing's parent bank if it had the opportunity to misappropriate it.

lyndasharp

I'm another 'me too'! I'd set up a BACS transfer for Wednesday so that I could pay my rent... it sounds like it won't be appearing in my current account very fast, though it is showing as gone from KE. At least I have an understanding landlady!

genny

Just checked after returning from work, as advised by recent articles, and money is still in limbo, left KE according to the account and not in the linked account either (that's my large CHAPS from 7th Oct)

Good luck nomorekids!