Kaupthing Edge CHAPS Transfer

fudgie1980_2

LuKeNuKuM wrote: »

cheers all for watching and i feel relieved about the hair

they said it would only be a bout 30 seconds, i guess their trying to make it look 'live'... i just spoke as long as i could. glad the stress came out - i think that was more nerves than anything.

still all is sounding much more promising - anyone got any payments in or bounced back yet?

Not yet - mine's still floating about the ether somewhere. Am checking almost obsessively though. Anyone else got theirs yet?

tranzform

Just checked, nothing through

Thinker

dont forget, the Treasury acted, as per their statement on KE, to secure KE assets here in the UK very early on. Thats why the Icelandic gov was so mift with Brown

kasbridge

Thinker wrote: »

dont forget, the Treasury acted, as per their statement on KE, to secure KE assets here in the UK very early on. Thats why the Icelandic gov was so mift with Brown

thanks, good point - forgot this (in the fun we're having) ;-)
K.

behelzebub

Yet more confusion by the BBC and CH4, understood the money was held in a british bank by RBS and not in Iceland. What a waist of space that so called 'expert' was, erm, arrr, erm, I think you should contact your bank, erm erm, arrrr

Luke, you're a star mate

echelon101

I am quite confused now. I have a bit of money with the now ING'd KE.

I have about 50:50 in a fixed term and instant deposit account. I am well aware that the savings are safe but the thing I am interested in is

A) Whether ING are going to honour the interest rates that KE provided. If not there is no point keeping the money there.
Do I withdraw utilising a BACS/CHAPs (does it make a difference)transfer to my other account and then find another high interest deposit. Since I am a student I don't pay tax.
C) Is there are time scale?

poodlediva

Another one to add to the merry list. I transferred 34k on morning of Tues 7th (just before takeover) and my husband transferred 34k on the afternoon of Tues 7th (just after takeover). His arrived safe and sound that afternoon, as presumably, it was under the auspices of ING. Mine has disappeared with everybody else's. I know there are reassurances flying around but I have had so many versions offered by Kaupthing when I've called that I don't trust a word of it. Very scarey indeed.

Dying to hear that somebody has their money back...then there'll be hope for the rest of us. So glad to have found this forum. I thought I was the only one. Surely if the problem is this big it has to get sorted.

codger

kasbridge wrote: »

Quote from the presenter on working lunch (para)

" ...unhelpfully ING were not able to tell us how long it would take to sort this out..."

I personally would be amazed if anyone gets any money thru today......more like this time next week imho....

K.

A calm and soothing post, for which much thanks, because there's still far too much alarmist speculation on here and elsewhere on MSE.

Certainly we can all see the smoke that has engulfed KE in the UK but that doesn't mean that, right this moment, all of us are on fire.

My BACS transfer was begun last Saturday morning and so couldn't have gone into APACS processing until Monday. The fact that my KE account shows "transfer complete" means nothing at all: on Monday, KE's UK subsidiary would have known just how much money was about to take flight and so I'm not at all surprised at ING's statement that actually, no money went out of KE at all to depositors.

My transferred funds still haven't arrived in my linked account but I'm not surprised. Nor am I worried -- apart from anything else, what is worrying going to achieve apart from another unsettling post here?

Assuming that the transfers system will again not work this weekend, and accepting ING's assurance that it's working flat out to clear the transfer back-log, I'm assuming the following timetable:

1) No monies left KE to UK depositors despite the accounts showing a transfer;

2) ING didn't acquire KE's UK customer base / accounts until Wednesday of this week;

3) ING couldn't begin to get to grips with the transfer situation until yesterday (Thursday);

4) Even if some transfers are initiated today, I've no idea if CHAPS completion will occur tomorrow (on a weekend) but I'm equally pretty certain no BACS transfer will complete;

5) If I'm lucky enough to be at the head of the BACS transfer queue, then hopefully I'll see the funds in my linked bank account next Tuesday, October 14th;

6) If I'm not that lucky, or the whole system gets clogged because of the volume of transfers, then that date moves to Wednesday, Thursday or Friday of next week.

Our family's position, therefore, is that if we "see" our KE money in our bank at any time before a week today -- Friday, October 17th, 2008 -- then that will be fine.

If funds are not showing by mid-afternoon next Friday then we'll start to wonder -- wonder though, not worry, because there's no point in anyone conjuring up nightmares that can only fuel wider anxiety, if not wider hysteria.

dnmharwood

northern5 wrote: »

What have the dutch authorities got to do with it? They protect ING which hasn't gone bust, so no need to be worrying about that! If anything you're better off with the dutch because their compensation level is higher than the UK. If it did go under I'm sure the FSCS would handle it for us, like in Iceland

Anyway, I very much doubt an EU country would be able to take our money and then give us two fingers like Iceland!!!

How can you possibly predict the reaction of any country in economic meltdown???? If they have no money then what can they do?

As for the call centre comment.. they are totally different deparments poissbly not even at the same location in such companies they are specifically trained as call centre staff or processing staff, dangerous to assume you know these things when you clearly have little or no knowledge

trevs707

Like everyone else I did a BACS transfer last Sunday and still nothing. I think that the only thing left is to let ING know that it they don't pull their finger out and get the transfers moving we will attract as much media attention to this as possible with a view that it will damage their reputation with potential new customers.