Kaupthing Edge Chaps/Bacs Transfers NEW discussion

genny

Very disappointed with the constant petty arguments and childish comments on this thread. Wish people would grow up, you aren't children and this isn't a playground. Mainly by newbies I notice, one who haven't stumbled across the FAQ at the top of the forum.

Obviously I'm still waiting for my 7-10 CHAPS along with many others, reading the statement from ING http://www.ingdirect.co.uk/kaupthingedge.asp it seems we now will have our money by the 24th (heard that 2 Fridays ago!!).

What I still cannot understand is why they have prioritised transfers including BACS made after some of the earlier CHAPS ones, now people who withdrew earlier are still waiting for their money.

henden

From our two accounts my wife and I each made £20k CHAPS transfers dated 9 October but still nothing arrived in our linked Smile accounts and no email or information or contact whatsover from ING/KE. £40k somewhere in cyberspace, maybe.

Is it known whether all the transfers already done were requested prior to 8 October?

Has anybody received funds with an original CHAPS date at KE of 9 October?

PJL1

10_66 wrote: »

HAPPY BIRTHDAY sph1971sph!! Let's hope we get our money soon!

Hope you get what you really REALLY want !!!!

genny

Just testing my signature....

northernstar5

AB31 wrote: »

That same message is still being trotted out on K-E's recorded message system. In this message it's amazing that they have the gall to refer to "administrative issues" as being the cause of the ongoing delays, without any hint of what the issues are. Note that those still waiting (including me) may not get paid till next week, as the message only says that payments are expected to start hitting linked accounts by Friday 24th, not will be completed by then.

If it's any consolation, it seems that K-E say they are not accepting any new requests for payment until the present backlog is cleared. If so, I'm wondering why this Forum isn't full of a separate wave of protestors who have been told that withdrawal requests are not even being considered yet.

It's ok -it's back on the website!

actorlenny99

Haider wrote: »

Good Morning everybody, we are now 55
Still waiting for our cash to be transfered from KE/ING
THIS IS THE COMPLETE LIST, IF YOU CAN NOT FIND YOUR NAME PLEASE PM ME AND I WILL ADD YOUR NAME

Pls add me to the list - CHAPS 7/10 to RBS not received

isobella2000

Just popped in to say morning, and will be back later to check progress. So glad to have this forum to share my worries and stop me feeling so alone! BFN x

AB31

northernstar5 wrote: »

It's ok -it's back on the website!

Yes but as I noted earlier, it says:

"... all outstanding payments will be released by Thursday 23 October and we would expect these to start arriving in the destination bank account on Friday 24 October"

No promises here, and it could be next week (27th or later) before they complete the process.

Dancingbear_2

Being told we 'should have seen it coming... foreign bank, overly high interest rate', in a few posts, took me back to KE's stated position on 7/10:

"Your funds are deposited with Kaupthing Edge, which is a UK bank and regulated by the Financial Services Authority here in the UK. With effect from Tuesday 7 October, your first £50,000 of deposits are protected by the UK Financial Services Compensation Scheme (FSCS) as with any other UK Bank. Your deposits are permanently held here in the UK.

This means funds deposited with Kaupthing Edge UK are deposited with Kaupthing Singer and Friedlander Ltd (KSF), a separately incorporated UK company. KSF shares are owned by a single shareholder, its parent Kaupthing Bank hf. This is a similar structure as Abbey, who are wholly owned by their parent company, Santander.

Kaupthing Edge: a UK Bank

KSF is a registered UK bank, with a UK banking license, and as such we are required by the FSA to hold adequate capital resources, and sufficient liquidity. The same FSA framework applies to KSF as to any other UK incorporated bank. KSF has a strong balance sheet with significant financial resources, a good liquidity position and a good loan to deposit ratio".

(The KE instant access savings interest rate was very close to Birmingham Midshire's, at the time.)

Twenty-four hours later KSF was put into administration. 'Should have seen it coming'? Don't think so. Sceptical about generalised promises by banks now (still waiting for a CHAPS transfer, debited 9/10, with my emails ignored by ING Direct)? I surely am!

newsaver76

Hi All - I'm one of those who finally received their CHAPS money yesterday but came to check things out anyway to see what's happening with the remaining people who didn't get their money yet. I really hope you all get it back as soon as possible! Will check to see how things are going later again. Good luck!