Kaupthing Edge Interest and CHAPS Fee Refund Discussion

ilovemanu

Yesterday I had my chaps fees returned, the one that was deducted from my receipt, I already had had one returned much earlier. They have also credited me with this one again, so they have overpaid me!! I suppose I ought to tell them, but I will wait a bit. I have also had my interest credited today so feeling good about it all now

10_66

MigsyBigsy wrote: »

anyone know how to close the Kaupthing Edge account. Have looked throughout the website and found nothing.
Any ideas?

I rang them on 7 October to close, and the account is still available to view when logging on. I've asked why, and was told that it was due to a back log, yet I've (eventually) had my money back from them, and the interest (which had been added early in November). Maybe it'll eventually disappear when the KE system's integrated with ING's!

The_Prodigy

The_Prodigy wrote: »

After I finally got my CHAPS transfer through after 34 days of waiting I sent Kaupthing Edge a secure message requesting the CHAPS fee that they charged me and my 34 days lost interest. I got a response saying that they had passed my information on to the administrators in order to get the CHAPS fee refunded. They didn't mention the interest they owe me.

I'm still waiting. I checked today and there is no interest paid or CHAPS fee refunded. I can't believe anyone is willing to let them off the hook. If the boot was on the other foot they'd pursue you to the end of the Earth to get their money back.

mjmal51

Had my CHAPS fee returned some weeks ago now and had been waiting for the 3 1/2 weeks lost interest. Decided to check this morning and there it was! Obviously been waiting for the month end so hopefully everybody else in the same boat. Can now go about closing the account, don't want any Iceland reminders in my bookmarks having suffered Icesave as well as Kaupthing.

maplewood2

I'm still waiting for my full interest credit and 2nd CHAPS repayment - as usual vague promises and lack of information from the poor helpdesk guys. It seems it is Earnst and Young, th administrators, who are processing all these payments and calculations, and also responsible for providing realistic updates.

hendrix04

outstanding interest for the missing days appears to have been credited came under corr on statement

UnhappyHarry

I've just had my "missing" interest paid from the period between 7th October, when it was CHAPPED out of my account, and the 20th, when it eventually arrived in my linked account.

Unfortunately, it's much less than it should be, so I e-mailed Kaupthing with the details, and they phoned to tell me that the interest rate was reduced to 4.55% on the 7th, and that's the rate that they're paying.

As far as I'm concerned, it should stay at the original rate until it arrives in my account, but they insist that ING/E&Y are not allowing that, and basically left me with the feeling that I should be grateful to get anything at all.

Only form of complaint that they will accept is by writing to E&Y.

Frankly, I'm not at all surprised, as all the way through this, ING/E&Y have lied, and it seems obvious that they care little for their reputation.

gldkg

*Still waiting* for my CHAPS and interest refund despite what they say on their website :mad::mad::mad:

Anyone else still waiting?

maplewood2

UnhappyHarry wrote: »

....the interest rate was reduced to 4.55% on the 7th, and that's the rate that they're paying.

I queried my interest payment showing on my account 1st Dec(i assumed that it was the normal one for Nov) and the heldesk guy said that was the refund included, but i reckoned it was around £50 short plus the £20 for CHAPS refund.
The guy said something about the rate being reduced but i didnt fully hear what date he was saying it reduced, because as far as I was concerned it shouldn't have been until way after the 8th October and I assumed he meant early November.

I am sure my account was showing 6.55% for a long time after this appalling balls up, but i suppose they will claim that they were "unable to change the website" but even so I remember being annoyed when i found out the rate had collapsed but im sure this was way after the initial event.

I didn't take any clear record of the interest change dates.

charlieboycat

UnhappyHarry wrote: »

...the interest rate was reduced to 4.55% on the 7th, and that's the rate that they're paying.

Scandalous that they are compensating for delays in October at a reduced rate that only came into effect in November.

But, even more scandalous - I am aware of one instance where they have then added insult to injury by deducting income tax from the compensation interest at 25% instead of 20%. So check the tax deduction calculation as well as the gross interest.