Kaupthing Edge Chaps/Bacs Transfers NEW discussion

mrarnald

Dag

You have hit the nail on the head Kaupthing Edge are underwritten by the FCSA.. When ING bought the accounts any losses i understood would be paid by them..The FCSA, lets face it ING would not pay as i understand £500,000000 for £3billion worth of debts.
The UK government jumped in and put it into administration,freezing all its assets,our money included. They are hoping to claw back as much cash as possible. this is where the problems lies.. Instead of running to the media who only look after the media.. write to you MP or keep complaining to the Financial Ombusman.. If the media get hold of it they will esculate it to get a story and perhaps as already stated cause a run on ING.. Where do we stand then.. with our money in the Ether..who do we claim from..
Just stay calm. I am confident we will get our money by the weekend.

AB31

TO ING DIRECT: An Update today (Wednesday 22nd) would be much appreciated to confirm, or otherwise, that you are on track to resolve the "administrative issues" referred to in your last update. Can you also please clarify whether or not any payments will actually hit linked accounts today or Thursday, or whether nothing further is likely to hit accounts until Friday (24th). Finally, can you indicate the expected end date when all backlog payments will have reached customer accounts, eg are you envisaging that any may be as late as say Friday 31st?

TO ANY REGULATORS FOLLOWING THIS THREAD: As is apparent, various promised deadlines for payment by ING have made and not kept. There has been virtually a total lack of customer feedback from either ING or KE following e-mails to their operations. Their helpline staff merely trot out scripted texts they have been given which falls way short of providing clear, focused advice. They admit that they have no control over customer accounts, and that the Administrators run the show but who remain uncontactable and work to their own schedules and priorities beyond the reach of ING. This situation is totally unsatisfactory.

TO H M TREASURY: What the hell were you doing allowing the K-E portfolio to be handled by ING Direct without checking on their ability to deal efficiently with repayments in a reasonable timescale? This is total incompetence on your part. ING is very clearly not up to the job.

TO OTHER MEMBERS OF THIS FORUM: Thank heavens the trolls seem to have gone. It's nice to receive moral support from those who have received their funds, but try to imagine how you would feel if you were told that you would have to wait until Friday 24th before you might begin to see payments flowing again. Perhaps you wouldn't be quite so optimistic as many of you appear to be.

hellyboo_2

Morning all. Wow it's become 2nd nature to log on and come straight here!!

blizeH

I received my payment just fine - very happy with ING if I'm honest. The mony will be going straight back in shortly

tintin52

A very good post by Dag - a sense of perspective is always helpful.
Following a similar theme, here are a couple of links which some of you may find interesting and informative relating to KE's IOM depositors.
http://www.ksfiomdepositors.netgenius.co.uk/?q=node/18
http://www.ksfiomdepositors.netgeniu...ode/337&page=2
These suggest there are a number of potential legal issues regarding "in-flight" transactions, (i.e. CHAPS and BACS), and against that background it's a bit easier to see why these might have taken / be taking so long to sort out.
In the UK everyone has been reassured they will get their money eventually, but I suspect there have been lengthy meetings of lawyers and Administrators to determine which pot they get paid out of and who picks up the final bill.
Anyway good luck for Friday to all of those still waiting, and just be thankful (if only a little bit) that unlike IOM depositors your only uncertainty is "when" you'll get your money not "if" you'll get your money.

henden

MSE_Martin wrote: »

IMPORTANT NOTE:

Hi folks,


3. While I don't want to step on anyones fun. Do remember ING Direct and possibly members of the regulators are reading this thread and we need to keep the focus on for those who haven't got their money. If someone wants to set up a Kaupthing Chaps Chat thread in the MoneySavers Arms or Discussion Time - then that'd be more appropriate (sorry to be a killjoy)

Martin

I must change my name to kILLjoy because I was back on page 64 trying to pick up details of anything happening with KE only to have to plough through more 'joke' posts than relevant posts.
Sure, a bit of fun keeps the blues away but for goodness sake please start another 'KE jokers' thread and stop clogging what for most posters is an important Thread.

darrahman

had no money or emails for either ING or kaupthing and my bacs paymnet was set up 10th oct still nothing and no definiate date just broken promise, and anxious wait priceless, only thr goverment could makebanks like this, I look at this a fraud surely take your money say it guarenteed and safe but for last 10 days ive had none, whats my goverment ministers doing for us???????

JD.

Merrill_Lynch

I've just come off the phone to Kaupthing about my missing money and have been told it might be close of business Monday next the 27th before it drops into my linked account. The transfer was requested on the 13th.
This is in respect of a relatively small amount .... in fact my main fixed term dosh ( a rather large amount ) is still sitting there. I was too frightened to hit the button and fire it off into outer space.
Hopefully I am right to assume it will all happen ???? It's just a case of when ??? Or should I be marching on ING's HQ.
Get them Martin...no time for !!!!! footing around.

isobella2000

Morning fellow sufferers and already reimbursed supporters (thanks for staying around, by the way, it's much appreciated).
I'm sitting tight till Friday, and will we watching with avid interest (no pun intended) to see if payments start coming thru via this thread. Pleeeeez let me be one of those reporting 'funds in' to my account. But I feel so reassured by Martin's statement that he will be following all of us, down to the last one, till we are all satisfied. What better champion could we have?
Isobella x

henden

fleurie12 wrote: »

Forget all these small fry at the BBC - target Mark Thompson - the Director General. They put out a statement from ING on Panorama website saying that we would all be paid last Friday. I bet he is now downing a glass of Merlot and not thinking about us on here. I worked for the BBC for many years and just a tip. [EMAIL="mark.thompson@bbc.co.uk"]mark.thompson@bbc.co.uk[/EMAIL]

Thanks for the address FLEURIE........... message sent.....

Dear Mr Thompson,

Maybe ING told the panorama crew that all is under control and that all outstanding transfers will be made last Friday 17th October.

Well many transfers were still not made by last Friday or even this past Monday or Tuesday.

My wife and I, who have individual accounts at KE, both have CHAPS transfers dated 9 October already deducted from our accounts but still not arrived in our linked accounts.

AND, while ING may tell you that the 5% who will have transfers pending have all been sent an email I can confirm to you that neither my wife nor I have received any communication whatsoever from KE or ING.

Further, the KE website appears to have two versions. One for accounts set up before July and a different one for accounts opened later. From this point the log-in names changed from email address to whatever one chose.

The KE website (pre July) we use has a section for Secure Messaging and ‘View secure Messages’. This section has not been working since the ‘troubles’, how’s that for an organisation that says it’s communicating?

As a further indication of ING’s lack of desire to facilitate easy communication, the post July website has no facility for sending/receiving secure messages to KE. What is even more telling is that there is no facility on the ING website to send an email query to ING. ING do not want to make communication easy.

My wife and I have accounts at several institutions (all UK protected) all of which have a secure messaging system on their website; otherwise we would not place funds with them.

How on earth Gordon Brown can claim to be our financial saviour when he has transferred our funds from a UK protected environment into a foreign environment …… well, words fail me at the cheek and dishonesty of our great leader.

Yours faithfully,