** Kaupthing Edge: All Transfers Apparently Affected, No BACS Delay?? **

Newly_retired

Can anyone tell me if it is now possible to do a new BACS transfer out of Kaupthing since Ing took over? Is it all working again?
As far as fixed term accounts are concerned, is it best to withdraw now to the relative safety of a UK bank/building society, with loss of interest, or wait for Ing to clarify the situation?
Any experiences or opinions welcome.

Caudle

If funds not in destination account by end of next week I will have to seek Financial advice about recovery.

I'm betting it will turn up on Monday.

As far as fixed term accounts are concerned, is it best to withdraw now to the relative safety of a UK bank/building society, with loss of interest, or wait for Ing to clarify the situation?

What clarification do you want? KE savings accounts are now covered by the Dutch compensation scheme. If you are happy about that keep the money in. If, like me, you are not happy with it, draw the money out.

Newly_retired

Maybe I didn't explain very well. Clarification from Ing - I meant regarding interest rates. I know it is a Dutch company and I don't feel comfortable with that. Move now, is my gut feeling, and I will do that with my instant access account, but I might wait and see if Ing say anything about loss of interest on the fixed term account for closing it early.

Caudle

Clarification from Ing - I meant regarding interest rates

ING's current rate is 6.5%. KE's equivalent was 6.55%. Does it really matter?

vincit_veritas

"Quote:
Clarification from Ing - I meant regarding interest rates
ING's current rate is 6.5%. KE's equivalent was 6.55%. Does it really matter?"

Maybe it does, if you were already a customer of ING as well as KE. It is also unclear whether KE migrants will be treated as if they are new customers,as they are not actually having to open new accounts with ING.

ING's 6.5% includes an introductory bonus to new customers, for 12 months from account opening. The rate for existing customers is a much less attractive 4.75%.

collingbone614

Does no one actually read the Kaupthing website? There is a backlog and it is being worked on. Other threads on here indicate the money is moving. Give it chance, for !!!!'s sake.

whu

has anyone received money from a BACS transfer initiated on tuesday 7 october?

Optimist

whu wrote: »

has anyone received money from a BACS transfer initiated on tuesday 7 october?

I haven't received one from a transfer initiated on Monday 6th. I'm hoping sometime this week.

barak

whu wrote: »

has anyone received money from a BACS transfer initiated on tuesday 7 october?

No, I am patiently waiting :undecided

glitter123

whu wrote: »

has anyone received money from a BACS transfer initiated on tuesday 7 october?

No still waiting for mine.