Kaupthing Edge CHAPS Transfer

Celt08

I know it's difficult to know what will happen...
Let's just hope someone will post a reply saying that they've received their money into their nominated account....
:rolleyes:

Charles1968

kasbridge wrote: »

Charles,
Is this your assumption or is it an impression that you were given by the ING press guy?
THx,
K.

The ING press officer told me that funds "withdrawn" before the 8th remain in Kaupthing bank, but Kaupthing bank is now owned by ING. I don't understand what this means. He was emphatic that ING will be processing all transactions, but we don't yet have full clarity on where our money has disappeared to. It could be the case that ING will be honouring some transactions by making claims to the FSCS on our behalf, in which case those transactions will take longer to process. I've no doubt we will get our money back one way or another, but I suspect that some people will be waiting a lot longer than others.

MadBill

oql61 wrote: »

.....
I would also like to add how informative, supportive and amusing (!) this forum has been in some very difficult times.

Indeed! You've got to laugh! Pass me another glass of red (for medicinal and anasthetic purposes, you understand).

MimiJane

web_ferret wrote: »

I'm confused.
Some are saying that any transfers will go back to KE and others are saying that they will be processed in the next few days!

The problem is we're just throwing opinions around. Kaupthing/ING have never said (as far as I'm aware) that our money will be bounced back, quite the opposite. We all have to sit tight and wait ... it does look far more likely it will reach our nominated accounts, hopefully quite soon.

Debs_123_3

I wonder what the Government's reaction would have been had so many Councils not invested in Iceland. I think it is disgraceful that we all have to sit on tenterhooks second guessing what is happening to our money. Lots of people have big sums floating around with no idea as to when, where or how they will materialise. This surely can't be right!

MimiJane

The wider implications are frightening. With councils, police, fire brigade, etc. investing in Icelandic banks, it obviously increases the risk of rising council tax, public services, etc.

Arion

I too BACS transferred all my savings (£26k) from KE to my linked account on 6/10/08.

It still hasn't arrived.

However, to keep the account open and for curiosity, on the 7/10/08 I transferred £100 back to KE. Guess what? Yep...it went back into KE 2 days later.

So I guess this proves the BACS system at least works - speedily in one direction.

satellina

I apologise if this has been answered already. I have a 3 yr term deposit with KE. Does anyone know if ING are going to honour the interest rate on these deposits? Or should we be transferring them to an ING account?
It was going to take 20mins to get through to their phone line so I gave up.

behelzebub

Just got of the phone from KE, ALL transactions (before, on and after the 8th) WILL be honoured. She also said that interest WILL be paid and the chaps £20 charge WILL be refunded. She said, not a penny will be lost!. The answer to how long will it take, "we are working around the clock to resolve this issue, ING staff have been drafted in to assist" There is No priority, ie Size of fund or the date/time submitted. I asked her about whether the bacs/chaps would be reversed back into the accounts, she said “No they will be paid” she finished with … “Have a nice day”

Debs_123_3

I know ... the bigger picture is really scary. This forum has been a real comfort though ... at first I thought it was just me with money in mid air!