Kaupthing Edge CHAPS Transfer

THE_WORRIER_3

Hindsight we do think it was reckless and greedy, but near to retiring, never imagined this scenario in our wildest dreams and when news came out about best to split money we started opening other accounts. Family health issues hit us and we never got round to moving it!!! This week we started the move and then all this blows up - bad timing I guess, stupidity, and lots and lots of bad luck - we certainly don't have money any where else - this is all of it!!! so we keeping everything crossed and trying hard not to beat ourselves up.

TommyGun_2

"Kaupthing Edge payouts start this morning, says ING"

Article on CityWire Just now ..

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ING Direct has said it will start to clear the backlog of transactions at Kaupthing Edge and will let some consumers withdraw cash on Friday morning.

A log-jam of transactions has built up at the Icelandic owned internet bank as customers try to withdraw the £2.5 billion of savings locked inside. ING Direct said the first money would be moving out of Kaupthing Edge in the morning but it could not say how long the backlog would take to clear.
Customers like Simon Tong of Maidenhead, who tried to withdraw £65,000 on 8 October, were able to transfer money out of Kaupthing Edge but it never appeared in the bank account they sent it to. Tong thought many of Kaupthing Edge's 160,000 savers had shared the same problem.
‘Kaupthing Edge appeared to do the transaction but the money has not appeared and there is no statement from Kaupthing to say it was in transit,’ said Tong, a research scientist for the Transport Research Laboratory, Wokingham. ‘Is it just in limbo?’
The problem was not with the bank transfer and the money never left Kaupthing Edge, said the Association for Payment Clearing Services, which represents the systems Chaps and Bacs, which pass money between banks.
ING Direct said its staff had been working at Kaupthing Edge for 24 hours and could not say how large the backlog was or how long it would take to clear. ‘We have had our people in Kaupthing Edge today and they are getting that backlog moving,’ said a spokesman for ING Direct. ‘The first payment should be issued tomorrow morning.’

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

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Take a chill pill folks, it will be OK

TommyGun

MABLE

Just to update. Transfer done on 7.10 has not been received. I was told by a very stressed advisor I would get it by today. As I have said before they maake it up as they go along to get you off the phone.

web_ferret

Me too!

I CHAPed £34k on Tuesday night out of KE and its not arrived. My KE balance is showing £1.
My money is in limbo!
I'm soo stressesd

MadBill

Mentioned in post 714 - to be specific - performed the 30K BACS transfer online last Sunday afternoon. Debited Monday from KE a/c statement. Still not in linked a/c (Fri 10th 08:56).
I am however fairly well "reassured" that all will eventually get unblocked, but the short term "loss of access" to the cash which I have immediate need of -leaves me with a bit of a problem -

shabba_shabba

hopefully one of us will be be able to post soon advising they have recived their transfer. good luck all

kasbridge

Could someone pls remind me when our posters are due for news interviews today?
Thanks,
K.

hellyboo_2

MadBill we are the same. In fact we were originally supposed to exchange/complete last week so the money would have been long gone from our KE account but the builder delayed us and it stayed there. Now we are in limbo too but I am one of the believers like many of the other posters that we need to sit tight and wait as we can't do anything else!! Could your mortgage provider increase your borrowings? Could things be delayed slightly? these are questions I have been thinking through too for our similar situation.

I am awaiting that first money saver to say they have their money!! I have water on ice for that moment. (can't be champagne until money comes through - in fact I will hold the ice too!)

helix_2

alared wrote: »

http://news.bbc.co.uk/1/hi/business/7662000.stm

Lastest compensation news

It's interesting that although ING is taking over our accounts, it looks like we have the government to thanks for the actual funds. Looks like ING got a very good deal out of this. £2.4 billion worth of government funds, and 300,000 odd accounts.

bytie_bit

Still waiting for mine don't for get to sign this petition want our money back.