Icesave/Kaupthing BACS/CHAPS Transfers - anyone received them yet?

Limes

I've posted this elsewhere but, there is also this news article from CityWire which may hold a little more detail:

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

Meadows

http://www.guardian.co.uk/business/2008/oct/10/banking-creditcrunch

Britain went on the offensive. "What happened in Iceland is completely unacceptable," said Brown. "I've spoken to the Icelandic prime minister, I have told him this is effectively an illegal action that they have taken. We are freezing the assets of Icelandic companies in the UK where we can. We will take further action against the Icelandic authorities where necessary to recover the money.
"The responsibility for this lies fairly and squarely with the Icelandic authorities, and they cannot simply default. The Icelandic authorities are responsible for this, and we are demanding the money is paid back to the local authorities, and we are prepared to consider all forms of action, including, as we did, attempting to freeze assets."
It also emerged yesterday that the 300,000 UK personal savers who had accounts with Icesave would be lucky to get their money back by Christmas.

Well, it looks as though as though we won’t see our money back for sometime, and while I don’t need my money right now (it’s meant for when we retire), and will just be very glad to get it back, I sympathize with any savers that need their funds within the next few weeks.

stevedb11

I made a BACs Transfer on the 6th from my KE account, its now showing as a credit in my linked account, well done ING.;)

janey_uk

Indeed my first transfer from KE on Monday (bacs) is now appearing as pending in my current account. Will never use KE or ING again after this though.

kara_p_uk

My money has arrived this afternoon, now the problem is where is it safest? Does anyone know anything about the local credit unions that were set up about 10 years ago?
Thanks ING!

dag_2

Well I'm pleased to see that - like that CityWire article said it would - the cash is finally starting to come through. However, now that KE has been gobbled up by ING, I don't see any reason to believe that it's more likely to happen to KE again than it is to happen to any other bank.

In the good times, it's fair to say that a bank which has got good customer service is probably going to go on having good customer service. Likewise, a bank with bad customer service will carry on being difficult for a while. But in times like these, notions of "customer service" have really got to go out of the window; when all is said and done, we don't care about the smiles, we just want our effing money. My point is, if you ditch a bank just because you think it has bad customer service, then I think you could be cutting off your nose to spite your face. A scrubbed-up squeaky clean image doesn't mean your money is any safer. And having your money held up for one or two days really isn't such a big deal, especially when compared with what Icesave customers are having to deal with right now.

There's a good guide to comparative UK bank safety here:
http://www.thisismoney.co.uk/bank-strength

Caudle

stevedb11 wrote: »

I made a BACs Transfer on the 6th from my KE account, its now showing as a credit in my linked account, well done ING.;)

Ditto. I am relieved!

But no more Kaupthing or ING for me.... although I've kept the accounts open, with nominal amounts, for when the happy days return!

AWSpence

Did a CHAPS transfer from my KE account on Wednesday still not arrived in my recipient!

Had an Icesave ISA but they have locked my account and I cannot log in to print off proof of my balance. Tried to reset my password still the same message. I know others have said they are provided with a 5 digit number but I can't get that far. Of course there is no answer from their phone number.

Any ideas out there?

daveple

I am able to log into my ICESAVE ISA - took screenshots and printed off statements etc today. I login through First Directs Internet Banking Plus which may have a backdoor entry?

Luckily I don't intend using my ISA for a while so as long as I can transfer the balance to another market leading ISA within the next few months I'll be happy!

Feel sorry for people who need access to their savings accounts pronto.

AWSpence

Nearly a week now and still no sign of my CHAPS transfer appearing in my recipient account! How can it take so long?