Kaupthing Edge CHAPS Transfer

Gillan

Please add me to your list. I transferred money from my KE account by CHAPS on Wednesday 8th. The account emptied but failed to resurface in my HSBC account.

bigg

codger wrote: »

Yet another example of newbies being misled.

ALL Internet accounts with the KE instant access / term account in the UK were deposited with Thatthing, Singalong & Friedegg.

ALL such accounts were covered up to £50,000 by the FSCS.

ALL such accounts are now with ING Direct and covered up to £75,000 (or whatever the 100,000 Euro exchange might be) by the Dutch financial compensation scheme.

The Fool is reporting that 3,000 postal accounts, not a third of a million Internet accounts, may have a compensation question mark over them.

As to any doubts about ING: no, it isn't going bust. It has too much invested in crap Formula 1 teams and crap Formula 1 race track banners to do that.

I'll give it a month and then transfer my former KE money out of ING into some place where:

(a) I won't receive the kind of patronising emails I used to get from ING (Hey there! We don't offer you the top rate of interest because we know you'd rather not see your interest rates changing all the time -- I'm paraphrasing, but 1,000s of other MSErs had exactly the same stupid message);

(b) they aren't so in love with Bernie bloody Ecclestone.

Is it ‘fill the forum up with rubbish’ day? :rolleyes:

flibbertigibbet_2

Question for Valleycommando:

Once our accounts are open/transferred will we be 'new' customers and eligible for the 6.5% interest?

Wondered if you knew?

[Deleted User]

I've got £6.5k in KE, did a BACS transfer out Monday but hasn't shown up in my main bank yet.

Not worried as I'll get it back eventually. I also have £1k in Icesave.

I'm just wondering whether I should now invest all my money in buy-to-let. Safe as houses I hear!

esperluette

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

they reacted fast ( emailed me back within 1 hour) after being blamed for the CHAPS delays and the info seems very clear.
why couldnt the others do the same?

Valleycommando

ING direct are just managing the funds you can continue to access your accounts via Kaupthing Edge and Heritable bank

You will be able to open an ING direct account at 6.5% if you wish to do so.

For more info please visit:

http://www.ingdirect.co.uk/general/faqs/keandhb.asp

flibbertigibbet wrote: »

Question for Valleycommando:

Once our accounts are open/transferred will we be 'new' customers and eligible for the 6.5% interest?

Wondered if you knew?

Smithquintus_2

I have found a heartening and clarifying article about the reasons for the CHAPS non completion at the following url: http://www.fool.co.uk/news/your-money/savings/2008/10/09/wheres-my-kaupthing-cash.aspx
Hope you find it useful.

Shaun Smith

foinavon

Please add me to the list, I transferred £29,000 on the evening of Tuesday 7th, by CHAPS not appeared in A&L current account, i phoned Alliance and Leicester there is no sign of the transaction. I eventually got through to KE, they said it was a backlog, then i phoned ING, they also said it was a backlog, when i asked about if the money was covered under the FSCS, she said that only covers banks going into liquidation and not money in transfer, i can't believe that the Government would allow this under these current economic circumstances.
Cheers

MimiJane

Found this article online, where Kaupthing state that BACS/CHAPS payments should start "moving" tomorrow (Friday), though there is a large backlog to clear, which could take a while ...

http://www.citywire.co.uk/Adviser/-/news/adviser-news/content.aspx?ID=317137

Ninetails

THE_WORRIER wrote: »

<snipped>

We know we been stupid and no one would have much sympathy with us, but we were taught to save and work hard - now we are thinking our kids were right SPEND SPEND SPEND - only wish we had it to spend.

You have my sympathy, and alot of others. You made the same choice as we all did! Maybe you should be interviewed - alot more sympathy for someone in your situation...

I would also like to thank this thread for such community spirit. In hindsight, the thread's been quite sensible and balanced, except for the odd fluffer. Commrades, I think we're going into a new day of action tomorrow. Good luck to all those with interviews. Off to a deep slumber...