Kaupthing Edge Chaps/Bacs Transfers NEW discussion

bigg

moneysavingmatthew wrote: »

The first payments started appearing yesterday at 14:37 - anyone think we'll see a similar flurry today (and tomorrow, Thursday and Friday)?

Fingers crossed for everyone but it’s more likely to be Friday.

tangocharlie

Just spoken to SIP at KE who was unable to tell me anything except the standard dont worry Friday etc etc. He was very understanding but couldnt access my account, which is still live and contaisn 81p.
He promised a Team Leader would call me back (after he emaild them), who could get details of my individual account through head office he would like to think. I need to know why my automatic transfer by CHAPS is NOT one of the payments made.

I transferred by CHAPS on 7/8th October to HSBC, no funds as of 10mins ago.

I hope this is not more mis-information/lies:mad::mad::mad:

Gillan

Remembering how I felt last week and yesterday waiting for my money (now reunited with it)...must be unbearable for you all.
Hoping for some more transactions after 2 pm today. Hang on in there.

Haider

Out of the 18 (2 BACS, 14 CHAPS and 2 unknown) transactions I received:
6 sent on the 7th
6 sent on the 8th
1 sent on the 9th
1 sent on the 10th
2 sent on the 13th
1 sent on the 19th
1 sent on the 20th
Totaling £650,600
total number of people still waiting for their money 83

Gordon132

tangocharlie wrote: »

Just spoken to SIP at KE who was unable to tell me anything except the standard dont worry Friday etc etc. He was very understanding but couldnt access my account, which is still live and contaisn 81p.
He promised a Team Leader would call me back (after he emaild them), who could get details of my individual account through head office he would like to think. I need to know why my automatic transfer by CHAPS is NOT one of the payments made.

I transferred by CHAPS on 7/8th October to HSBC, no funds as of 10mins ago.

I hope this is not more mis-information/lies:mad::mad::mad:

I spoke to KE earlier, and they spieled that same type of story, but when I said I had enough of there delaying tactics, the rep took me through security, and checked my account, then said they would place an investigation tag on my account, and get back to me today. :rotfl: Better not hold my breath, they say anything to get you off the phone.

financialbliss

Tried a test transfer of £500.00 out by BACS from KE to Nationwide on Monday 13th October. Just checked and nothing showing...

Financial Bliss.

MoneySaverROI

My money has turned up today! I hope everyone's turns up this week. Cheers to everyone on these forums adding their support.

EDIT - I never got my chaps fee refunded and no lost interest.

sph1971sph

Dancingbear wrote: »

My understanding is that the FSCS was not called upon for money:

"As you may be aware the UK Treasury has taken action to protect your savings, transferring all individuals’ UK savings balances from Kaupthing Edge to ING Direct.

All your savings are safe and are now with ING Direct, the world's leading direct savings bank and part of the ING Group which is one of the world's largest banks with assets in excess of £1 trillion and 85 million customers".

ING Direct is managing our savings accounts, according to this statement by it. Since when has it acted as an agent for the FSCS?

From FSA website :-

"The FSCS has been triggered following the failure of Heritable Bank and of Kaupthing Singer & Friedlander (KS&F) to meet their regulatory requirements and their being declared in default by the FSA.
Under the respective Orders under the Banking (Special Provisions) Act 2008, the FSCS has paid out approximately £3bn to enable retail deposits held in Heritable and KS&F and covered by the FSCS to be transferred to ING. The Treasury has made a payment to ING for retail deposit amounts not covered by the FSCS, amounting to approximately £600m, to be transferred to ING. In return, the FSCS and the Treasury have acquired rights in respects of the proceeds of the wind-down and realisation of the assets of the remaining business of Heritable and KS&F in administration.
The FSCS has financed its payout through two short-term loans from the Bank of England, which it is intended will be replaced with a loan from the Government after a short period of time. The repayment terms of the loan for the first three years provide for repayment of interest at a rate of one-year LIBOR plus 30 basis points. The first payment by FSCS, for interest from the period from now until end-March 2009, will take place at end-September 2009 and subsequent payments will be made annually thereafter. It is currently estimated that the first payment of interest required in September 2009 by FSCS under the two loans will be approximately £98m. After the first three years, it is intended that the loan will be refinanced by the Treasury, with repayments of the principal to be made over a period of years in the light of prevailing market conditions. It is expected that the amounts owed by FSCS under the loans will be reduced over time by recovery of funds from any dividend distributions to FSCS in the insolvencies of Heritable and KS&F.
FSCS has paid £3bn in compensation costs for eligible depositors so far (£500m in respect of Heritable and £2.5bn in respect of KS&F). FSCS is dealing separately with the claims of depositors not transferred to ING Direct.
There will be a separate communication as to how the compensation arrangements by the FSCS for customers of Landsbanki hf ("Icesave") will impact on FSCS levy paying firms.
The overall impact of levies arising from B&B, Heritable, KS&F and Landsbanki will be considered together. It has been agreed that levies to cover interest and expenses in respect of all these institutions shall not exceed £1bn per annum for the first three years.
We will provide updates as more information becomes available.
For more information about how levies are calculated please visit the FSA’s website at http://fsahandbook.info/FSA/html/handbook/FEES).

isobella2000

Hello again, just checking my account again this lunchtime but still no money showing in my A&E account

Thanks for updates Haider, very useful. I suppose there are many other forums like this one, wonder what the real numbers are of people involved in this delay?

I appreciate all the informative postings keeping us up to date with the unfolding situation. And also so glad Martin and Team are on our side. With them beside us, how can we lose!! :T

Looking forward already to Friday, I like to be positve!

bigg

Exclusive pictures from inside Kaupthing Edge today:

http://farm4.static.flickr.com/3254/2961542530_6ddf80819a_o.jpg

Don’t worry they’re working on it.