Kaupthing - my transfer out isn't happening - am I doing something wrong?

Lynt_3

I've just arranged to withdraw some money from KE, and it all went through immediately. Being transferred into my bank account on 8/10(tomorrow)

I have left £5 in, and may put some back in sometime in the future.

ad44downey

hsbcarter wrote: »

Just to say that i tried ringing Kaupthing Edge today (about 30 times!) and got an engaged tone every time.

Of course you did. That's because there was a few hundred/thousand other panickers phoning at exactly the same time as you!

Mercenary

Good Grief! Why can't people read their darned T&C's and maybe get an idea of how banking systems work?
Customer access to accounts may be 24/7 but banking systems are usually set up to use certain timeslots during working days to complete transactions.If you miss a timeslot, then your transaction is moved to the next one.
This is usually stated in plain sight for anyone bothering to read it.

There is also such a thing a system overload, you know? Usually caused by mass attempts for access ( mass panic anyone?)

j-man_5

Dont want to add another new thread but just got a quick question, how long does it take KE to move money from a fixed term deposit back to the normal savings account once you have requested it?

AQAddict

trevs707 wrote: »

You will find a hardcore of people on this forum who jump to the conclusion that you are panicing and trying to withdraw all your money and therefore adding to the problem. What people fail to realise is that we need to withdraw money from KE to fund our daily lives as we have done since we opened an account with them.

Agreed, it being instant(ish) access, I've been using KE to pay in excess money fom wages each week, and then back out when necessary to cover credit card bills etc. It's like when there's a fuel crisis and you've genuinely run out of petrol and are filling up as usual, but you get dirty looks at the garage for 'panic-buying'. :rolleyes:

So I experienced the problem described when withdrawing some funds this afternoon, but I think I'll sit tight until tomorrow and see if the statement changes. I would try putting it through again, but frankly I can't bear the thought of trying to phone KE if I need to explain why I'm apparently overdrawn!

donnykebab

trevs707 wrote: »

I guess KE have no idea what impact their incompetence is having on peoples lives.

I suspect there is a great deal more incompetence / ignorance at the trev end of the transaction than at KE's.
Amongst a whole torrent of drivel your posts trev are right up there in the top percentile

KingL

j-man wrote: »

Dont want to add another new thread but just got a quick question, how long does it take KE to move money from a fixed term deposit back to the normal savings account once you have requested it?

I haven't done it personally, but I'm sure I've seen ppls here saying it could take a couple of days. (The recent floods make it a little difficult to find specific posts, but it's out there somewhere!)

Somerset

Was on the phone at 8 a.m. this morning - got through at 8.50 a.m. - on hold till 9.15 a.m then spoke to CS.

There was no record on my transfer requests - the system had binned them. The CS chap said they'd had a problem since the weekend ??. If this is true, it wasn't me, or my inputting etc - the system would not action a transfer ( on my account anyway ).

The CS chap has manually done the transfer. At this point I have no option but to go on trust and cross my fingers - because he said the KE system would not show the transfer, ie coming out of my account, until midnight tonight, and although chaps is instant it will not arrive at Lloyds until tomorrow or Friday ( because of their backlog ).

I've done all I can - just praying it will arrive safely.

sixtytwo

Why is everyone panicking? the bank is protected just the same as the British banks.

Wibble

sixtytwo wrote: »

Why is everyone panicking? the bank is protected just the same as the British banks.

It ought to be safer than IceSave, where Iceland are refusing to honour their guarantee, but a lot of people (like me) have money frozen in IceSave so really need to shift their Kaupthing Edge money elsewhere too as there's a good chance that they'll go under (Iceland's banks are very dodgy now) and we need access to some money!

Even if you don't have money tied up in IceSave, it is risky to leave it in Kaupthing as the extra small percentage interest you get is nothing compared to what you'd (probably) lose in lost interest if they went under and it took months to get your money back.