Kaupthing Edge CHAPS Transfer

jillski_2

Been up half the night worrying about my savings which are now in cyberspace having withdrawn by BACS on Sunday evening. Have just phoned ING and they say that all the transactions will be completed and that my money is safe. It should hit my bank in a matter of days. I hope this puts other peoples minds at rest.

Bisoy

Add me to the list. Made a BACS transfer last Monday money left tuesday 07/10/08 but has not appeared on my current account.

hometune

I guess if they bounce the money back they will be hoping some people will leave the funds in their ING account. I personally wont as soon as I see my funds I will be transferring it back out again! Maybe i'll put it under my bed or invest it in premium bonds they're pretty resilient!

genny

MimiJane wrote: »

Why should our money be bounced back? ING should just be in the process of clearing the backlog of CHAPS/BACS transfers and then "business as normal" I would have thought once everything is sorted, or perhaps I'm totally wrong ... hope not!

Because the official line from APACS here http://www.apacs.org.uk/Icelandicbanks.htm
says:

Q. I tried to make a CHAPS payment, it was accepted and I was charged for it, the money left my account but never arrived at the destination account. Where is my money and will I be refunded the cost of the CHAPS payment?

A. Your money will still be within the bank that you sent it from and should be returned to your account. You will have to speak to your bank about obtaining a refund if you have paid for a service that you have not received. As with all payments you should keep a receipt of any transaction details.

Q. I made a payment from my Icelandic bank account and the payment hasn't arrived, where is my money?

A. Your money will not have left your own bank and it is more than likely that your bank is in the process of putting that money back into your account so you will be able to see the updated status of your account when you next log onto your account online.

Ippylady

http://www.citywire.co.uk/Adviser/-/news/adviser-news/content.aspx?ID=317137
Just read this, looks good, we will have to wait and see.

formulaonefan

UnhappyHarry wrote: »

Could someone give me a rough number of people on this forum who are due money? I think that the last figure was about 170, and if I guess at an average owing of £20k (is that fair?), would mean about £3.5 million owed to MSE contributors alone.

This is to give one of our news interviewees some numbers to quote.

Thanks.

I think we basically lost count. When I was maintaining the list yesterday, I was adding 3-4 users every 5 minutes. I think the total is well over 500s because we didn't count them all. Average is about £25K

coolio_2

I had term deposits that they claimed they could not break, and were stuck between term deposits and savings account. Hard to explain, but they're in the savings account now

mletters

The official APACS statement is incorrect in this case. The official line was, and still is - ING ARE honouring the transactions and will get things moving today into your linked account. It's official, and business as usual.

Mike.

behelzebub

Can a CHAPS be recieved on a saturday/sunday?

genny

formulaonefan wrote: »

I think we basically lost count. When I was maintaining the list yesterday, I was adding 3-4 users every 5 minutes. I think the total is well over 500s because we didn't count them all. Average is about £25K

Add a new poll thread asking amounts, and then you'll see how many people are missing money and the rough amount.

Just ensure no one starts replying to that, there are already 3 or 4 threads on this topic, and this really should be the main one!

EDIT - I've added a poll, please visit it here: http://forums.moneysavingexpert.com/showthread.html?p=14864397