New Kaupthing CHAPS/BACS Transfers discussion - Friday 24th October

nomorekids

My sincere congratulations to the five who got their money today. It's worrying how they are whittling those left down to smaller numbers. I know how much Ippy and Robbo have badgered ING and the press for the cause. I can't help thinking that this helps especially as I reckon it helped me and Lukem get ours. I know it's soul destroying but do keep up the pressure.

mrarnald

The trouble with Internet banking is that you have 100`s of people queuing up to withdraw their money,hidden from sight in their own homes, behind their PC`s.

Compare this with Northern Rock where the media were showing people queuing outside the bank to withdraw their money. The situation was quickly resolved.

Perhaps, we should form a party, inform the media and all descend on the offices of ING.

nomorekids

mrarnald wrote: »

The trouble with Internet banking is that you have 100`s of people queuing up to withdraw their money from their own homes behind their PC`s.

Compare this with Northern Rock where the media were showing people queuing outside the bank to withdraw their money. The situation was quickly resolved.

Perhaps that the answer we should form a party, inform the media and all descend on the offices of ING to demand out money.

well if you do, I am local so I will come, add to the numbers and support you. this whole business just stinks.

theFury

SteepPip wrote: »

YOU WILL NOT BELIEVE THIS...

I received this email today, as did some of you so I gather, but I received my money on Friday...so they are at it again!

Further to our recent telephone conversation where we committed to providing a response within 48 hours. Regrettably I have to inform you that the recent transaction from your Kaupthing Edge Account to your nominated linked account has been identified as being held up.

Whilst the instruction was given to process your transaction, we have now identified that the transaction has been held up at the clearing bank. As a result the payment has not yet been released and we are working with the clearing bank to release your payment in the quickest possible way so the funds are available to you as a matter of urgency.

We cannot stress enough that your money is safe and we continue our commitment to you in terms of resolving this issue.

ING Direct will refund the loss of interest on your Kaupthing Edge account that resulted from payment delays. CHAPS fees will also be refunded in cases where the payment was not sent within the normal timescale.

We appreciate your patience and we will update you shortly as to the timing of your transaction being released.


Yours sincerely,

Lianne Carson
Customer Services
Kaupthing Edge

Really great news to know we are all now being treated as 'individuals'. What a joke, we were supposed to get personalised responses as to where our transfers currently are and when we will definitely receive them.

easteregg_2

I think when this is all resolved (hopefully very soon) ING Direct will be to banking as Ratners was to jewellery

PanicButton

Just copied this from www.perspicacious.co.uk

ING bank accepts €10bn Dutch cash injection

October 28, 2008 by admin


ING, the Dutch savings bank which has more than a million savers in the UK, is to get a €10bn capital injection from the Netherlands authorities, the latest bank to be affected by the global credit crisis.
ING is the Netherlands’ largest listed bank, with 85m customers worldwide, and is one of the world’s top 20 financial institutions. It operates under its own name in this country, and recently took control of 180,000 accounts from failed Icelandic banks Kaupthing Singer & Friedlander and Heritable Bank.
ING has grown strongly in the UK on the back of its well-received savings products and has become a household name, regularly appearing in best-buy tables. It also took over the failed UK investment bank Barings in the 1990s.
At a press conference tonight the Dutch finance minister, Wouter Bos, said the government would get preference shares in ING worth €10bn in return for the cash injection. The shares will pay the government annual interest of 8.5%.
The Dutch government will also appoint two members of the bank’s supervisory board - the equivalent of its board of directors. The bank is scrapping its dividend payout to shareholders and its senior executives have agreed to forfeit their annual bonuses and limit their pay-offs to a maximum of one year’s salary.
ING said it would now review pay packages for the board and senior managers to link incentive schemes “to long term value creation and risk”
The funds will push up its so-called Tier 1 capital ratio to around 8% from 6.5% now. The Dutch government recently announced it had set aside €20bn to support Netherlands banks if necessary and ING is the first to apply for aid.
The capital injection is similar to those carried out by other governments around the world who have coordinated policy to try and prevent a general collapse of the global banking system.
In a statement ING said it “appreciates the measures the Dutch government is taking to boost confidence and stabillity in the Dutch financial system”.
Until recently ING had insisted that its declining profits were mainly a result of losses on its investments in shares, rather than losses related to US sub-prime mortgages. But it has clearly been hit by the general loss of confidence and falling share prices that have affected other banks so deeply.
On Friday, ING warned that it expected to post a €500m loss for the third quarter of the year, its first such loss since being formed in 1991 and one which sent its shares down 27% to a 13-year low.
The move could send new tremors through European banking shares when markets open tomorrow, because ING has until now been seen as being more robust than Belgian-Dutch rival Fortis, which was rescued last month by the Dutch, Belgian and Luxembourg governments.


Is this a reason to be optimistic or pessimistic???

easteregg_2

PanicButton wrote: »

Is this a reason to be optimistic or pessimistic???

It would be awful for the UK government to pay out twice on the same money.

Seriously though I don't think there is too much to worry about as some of the biggest banks in the UK have gone through the same rescue process, although the UK government is charging our banks 12%.

I will be closing my ING Direct account anyway, not because of this, but due their exceedingly poor handling of the Kaupthing Edge transfers.

Trollfever

Not read all of this thread, but who have we got in the blame game frame?

KE.
ING
A Clearing Bank.
BACS.
Ernst & Young.
FSCS.

Where does the buck stop when the pass the parcel music stops playing?

.

fredhaben

Congratulations to Caterina, Sixtytwo, Ippylady, Jacara2 and Robborollover! It beggars belief that so many others are still waiting. But, the important thing is, once it's in the CHAPS system, it's out of ING's hands, so it really only is a matter of time now. Hopefully this thread will die soon!

Bosty

Just checked again.
No money... No email... No phone call...
Seems doubtful whether the previous phone call was even registered.

Same old story. The pain goes on.

_______________________________________________
CHAPS 7th - Left Account 8th - Nothing received in A&L
No email - No phone call
£20 CHAPS fee refunded 27/10/2008