Kaupthing Edge Chaps/Bacs Transfers NEW discussion

superscouse_2

Sorry, I was on the phone to ING and hit the wrong key.
They have just told me that they have no idea how long it will take to make all the transfers. It could be today but it could be anytime this week depending on how they get on!! Well, I suppose they are beginning to realise that they can't keep lying to us and giving us false deadlines like last Friday.

Secondly, and to help a previous poster about how we will get our money transferred, ING told me that it will definitely be by CHAPS which they have set up specially for the KE customers. It doesn't apply to ING customers. They think we have been waiting too long and want to help us get our money transferred as quickly as possible!! Bloody cheek!!

latchbrook

tmvc2007 wrote: »

£5,293,778
165 transfers.

I will only add you to the database if you ask me directly, I don't want to double count and i need date as well as linked back and amount (if you're willing)

At least this shows it's a systemic rather than individual problem

Add me to the list - £30450 CHAPS instruction 8th October. Still not received to linked account at HSBC
Regards
Latchbrook

bigg

nomorekids wrote: »

Likewise, trying not to worry but no one is telling this to my rear

I have been calm for the last two weeks, the red mist is descending now but I think we are a little closer to a solution. They have acknowledged the CHAPS problem, which gives me more hope than last week. We now know that a lot of people are working on it for us.

MSE_Martin

Latest Update:

I've just spoken to ING Direct. It is in a meeting over this very issue right now and discussing how to handle it.

I have arranged that later today someone from ING will come and post in this thread directly.

They are reading the thread, and from speaking to them, your disquiet (lets call it that shall we) is coming across LOUD and clear. At the moment they are just finalising the exact situation.

It does sound to me like the work is being done urgently to try and get everyone the money. However by definition those left now are the trickier ones.

I asked for a guarantee on days and the reply was "as ING we would normally do this, but we're chasing transactions and making it work, so rather than disappointing people we can't won't name a day" yet afterwards in conversation it seems this really is DAYs only we're talking until its sorted..

I requested a special email address for people who had not got their money and haven't been contacted by ING and was told it'd be considered, though I suspect they are waiting to get a chunk more people sorted before that happens.

The ING meeting continues and expect to see more here later today and on its site.

Martin

goodethernet

sph1971sph wrote: »

Just suspicions but I strongly suspect now that the administrators have got their mits on the money (i.e. CHAPS holding account was part of parent KSF head office company that went bust) They will be arguing about whether the money is in trust I guess,

It's time to kill the myth that somehow the administrators see some value in these deposits! If they are in the balance sheet of KSF or some other entity in administration they are in there as a liability. The administrators will be happy to get rid of them. You talk as if it's a pile of cash! Wherever it is, it's money that is owed to other people (i.e. us). It's not an asset to be somehow sold off or scrapped over. HM treasury will have to pay ING to take them away (if they haven't already). The complication will come if we have somehow ended up in the queue of KSF's creditors and if so that will need to be unravelled somehow.

I'm sure it will make it more complicated to get paid if this is what's happened, but no less likely than if the money had gone direct via KE/ING. By the way, I have no idea if this happened and I'm past caring at this point.

sph1971sph

goodethernet wrote: »

You have to ask, what was the point at all of ING taking on Kaupthing Edge if it's still taking weeks to get our deposits. I'd have more confidence of getting something from the FSCS at this point.

Get used to the idea that the money will not be available to us for at least a couple of weeks and simply stop believing the outrageous BS and lies that are coming from ING. I have and I feel better already.

Indeed - alos been stung by Icesave but calm about that as I can see the "money" (numbers on a screen!) in the account and I know the FSCS will sort it within three months.

I never asked to be transferred to a non UK bank! When B&B went toes up access to my account and withdrawals were absolutely seamless - I didn't notice any changes. The awful performance here I simply cannot understand (Santander took over B&B, same scenario really, so why was that so smooth?)

My other half works in insolvency and she insists the administrators will not release the money if the account is part of the parent company (KSF - that is now in administration) They will only do it under legal enforcement. The FSCS are going to have to pump more cash in and have it out with them separately ... just my 2p.

Gwhiz

tmvc2007 wrote: »

£5,293,778
165 transfers.

I will only add you to the database if you ask me directly, I don't want to double count and i need date as well as linked back and amount (if you're willing)

At least this shows it's a systemic rather than individual problem

Add me to the list - £10000 CHAPS instruction 8th October at 2:06 PM which shows on my KE account as the 9th. Still not received to linked account at Nat West
Regards
Gary Hunt

jacara2

mannie wrote: »

Just spoken to the Halifax no payments due today. She said if it is by BACS then the earliest we will see any money is Friday. :mad::mad::mad::mad::mad::mad::mad::mad::mad:

:hello:Please just keep checking your account as we are also with the Halifax and they told me they couldn't tell me when a payment was going to be there and it just suddenly arrived!!

goodethernet

MSE_Martin wrote: »

Latest Update:

I've just spoken to ING Direct. It is in a meeting over this very issue right now and discussing how to handle it.


Martin

So, lets see. Even though the payments are all confirmed for close of business, Friday 17th and when that deadline passed, they blamed the receiving banks for not processing payments, so we'll all get paid on Monday 20th, they are sitting down TODAY at 2pm for a meeting on how to handle it???:mad: :mad:

Also, you would think that, after the way they have behaved, ING would just show some goodwill and pony up the payments and worry about geting it back later. It's probably only a few 10s of £millions. I know net-net it will probably be a help to have ING involved at all compared with the Icesave/FSCS route, but why should I finance their incompetence in getting the takeover done?


Come on ING, do the right (if not the most profitable) thing and pay us our money. You won't regret it in the long run

miserable_ol_so_n_so

Methusala wrote: »

Hi y'all. He has just called me again and has been able to confirm that:

1. The issue with the CHAPS/BACS transfers is NOT an asset issue, but an operational/records issue
2. The FSA and FSCS and 'government representatives' are working with ING to resolve the issue
3. In terms of timescales 'we are talking days, not weeks'

Whilst I would expect ING to communicate more clearly to us once they know what to tell us, their track record has - to date - not been good.

I would suggest we continue to lobby the FSA/Treasury/Media to get ING senior management involved in putting together a co-ordinated communications update to customers. Calling the ING Direct call centre will be fruitless - these poor guys are not in any position to help you...and are being kept in the dark by their own operational management teams.

Suggestions anyone. I am happy to help out in any way that I can. I also live near Reading....home to ING

What we need to do is to give the FSA/Treasury, our individual KE transaction id when we made the request. Present this list to them. Once they get the transaction id, KE can provide more information.

If you agree to pass this info on, please can you tell us here if we can send you a private message, with our transaction id.

The other alternative would be for each individual, to contact the FSA/Treasury, informing them that not only KE, but now ING too is in default, giving misleading information, and not delivering on promisses. My fear is that unless we register our transaction, we may well go past deadlines etc, and lose any right to compensation.
It maight be an idea to put in our claim regardless anyway. If we do get paid well, we can drop our claim. In fact someone has already done exactly that. See previous posts.