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

Apoorwoman

Just received an email - usual rubbish:

We appreciate your patience and we will contact you either as soon as your transaction is released or within 48 hours with a further update on timescales.

d10

Thanks Martin and Dan,

My request for a CHAPS for £5,839.00 was made on the 7th evening and it left KE on the 8th but is still not in my linked LloydTSB account as of now. (they have made a CHAPS refund of £20 though on the 27th!). Called KE on the 27th who checked that all the bank details are correct and emailed them last night again - awaiting an answer.

Frustrated and fed up!

Greecian

MSE_Martin wrote: »

Hi

I think its time to get some wider coverage... Im going to see if i can get any broadsheets interested in this as a story - hopefully it will help put pressure at the very top in ING to say something or speed things up. It is something I had avoided before hand as I felt it was best to let things work through. Yet as nothing seems to be happening its time.

Martin

Thankyou.....you're a star...good luck :T :T :T :T :T :T

JCB_Digger

MSE_Dan wrote: »

Want to check something though - is there anyone missing money from transfers that were NOT made on 6 or 7 October? Those are the ones that are still in the backlog, according to ING - so if there are any outside that period it'd be really interesting to know.
Dan

Hi Dan,

We're waiting for a CHAPS initiated on the morning of the 8th.

Regards, John

moonshine

my son did a CHAPS transfer on 20th October, the money didn't reach his account until two days later. But he was charged £20 twice! £20 was debited from his Kaupthing acount at that end and £20 was taken off the money sent so he received £20 less.

He has had a refund of £20 applied to his Kaupthing account for the charge made at that end but he has not received the £20 back that was taken off the money sent. Has anybody else had the same problem - being charged £20 twice - and if so, did you manage to get it refunded?

Any help as to how we go about getting this double charge back would be greatly appreciated.

theFury

northernstar5 wrote: »

hi theFury - thought you were at work! Glad you were able to provide much more accurate info than I could!

Had a free 10 minutes!

MSE_Martin

IMPORTANT UPDATE:

After seeing my note above re press... I got a call from ING Direct to try and run through with me what's going on. Below is my interpretation (and some reading between the lines) of the exact score right now.

The Dates Are Crucial

While ING has taken over the savings business, the processes of Kaupthing Edge are in the hands of the adminstrators who are being managed by Ernst & Young . Any transactions made after 8 Oct were therefore for ING customers before were Kaupthing customers.

If the transaction is Kaupthing then it is a question of information from the adminstrators that is needed and ING are simply the processors, if it is after the 8 then it is ING.

So far 57,000 payments have been processed, but as we know above some remain.

• Payments between 9 & 24 October.
  
  ING was rather suprised when I said there are 8 people waiting for money at this date. If you're one, you're hopefully in the easier to sort group and ING should be able to do so. The message again was call the helpline and ensure you let them know your payment was AFTER 8 October.
  
  The mention was this is simply due to glitches or wrong account numbers that are suffered for all paymetns from any bank. I asked that the phone team were told specifically that post 8 October transactions are easier to sort and they should be aware of the difference in situation.

• Payments on 6, 7 and 8 October
  
  Apparently 57,000 payments have gone through, but that's no solace for the 90 odd people on this thread without their cash. The money for the payments before Kaupthing was transferred lies with the administrators not ING.
  
  Reading between the lines, this is an issue of waiting for the administrators to sort through, and inform ING of the necessary payments to be made.
  
  I have a suspicion there's an "holding the party line" issue here, but ING are frustrated that the info isn't getting to them and they're fielding the flack.
  
  While this is unpalatable, for all of you waiting, this seems to be a situation of thumb twiddling waiting for the info to come. I'm not quite sure what I can suggest here.
  
  Certainly if anyone is in severe difficulty without access to the money (ie CCJ/mortgage arrear because of it) let me know and I will try to see if any special arrangement can be made (though pls dont do it frivilously).

I wish i could write something more concrete, but I hope at least an understanding of the process will aid it a bit more.

Martin

SorryInvestor

MSE_Martin wrote: »

IMPORTANT UPDATE:

After seeing my note above re press... I got a call from ING Direct to try and run through with me what's going on. Below is my interpretation (and some reading between the lines) of the exact score right now.

The Dates Are Crucial

While ING has taken over the savings business, the processes of Kaupthing Edge are in the hands of the adminstrators who are being managed by Ernst & Young . Any transactions made after 8 Oct were therefore for ING customers before were Kaupthing customers.

If the transaction is Kaupthing then it is a question of information from the adminstrators that is needed and ING are simply the processors, if it is after the 8 then it is ING.

So far 57,000 payments have been processed, but as we know above some remain.

• Payments between 9 & 24 October.
  
  ING was rather suprised when I said there are 8 people waiting for money at this date. If you're one, you're hopefully in the easier to sort group and ING should be able to do so. The message again was call the helpline and ensure you let them know your payment was AFTER 8 October.
  
  The mention was this is simply due to glitches or wrong account numbers that are suffered for all paymetns from any bank. I asked that the phone team were told specifically that post 8 October transactions are easier to sort and they should be aware of the difference in situation.

• Payments on 6, 7 and 8 October
  
  Apparently 57,000 payments have gone through, but that's no solace for the 90 odd people on this thread without their cash. The money for the payments before Kaupthing was transferred lies with the administrators not ING.
  
  Reading between the lines, this is an issue of waiting for the administrators to sort through, and inform ING of the necessary payments to be made.
  
  I have a suspicion there's an "holding the party line" issue here, but ING are frustrated that the info isn't getting to them and they're fielding the flack.
  
  While this is unpalatable, for all of you waiting, this seems to be a situation of thumb twiddling waiting for the info to come. I'm not quite sure what I can suggest here.
  
  Certainly if anyone is in severe difficulty without access to the money (ie CCJ/mortgage arrear because of it) let me know and I will try to see if any special arrangement can be made (though pls dont do it frivilously).

I wish i could write something more concrete, but I hope at least an understanding of the process will aid it a bit more.

Martin

Thanks Martin

The question I have is, as a major bank, why do ING not simply pay those people still waiting for more than three weeks for their money, using "petty cash, slush fund, Dutch govt injection" or whatever pot they want to call it. Then handle the accounting stuff with the Administrators off-line and in private.

Surely this makes sense for all parties

Or is this too simple?

bmwalker340

Just phoned the help line (incidently using 01159836332 - slightly cheaper that the quoted number), and explained and stressed that I was chasing a chaps from 15th October, i.e. AFTER 8th October, but the stock answer was still that the transfer has been identified as being unpaid, and it was now being held up by the clearing bank, and she couldn't cofirm when it would be released. It didn't seem to make any difference when I stressed it was AFTER 8th. But must stress that the person I spoke to was very pleasant, it must be a horrible job.

Neonoptic

Thanks for the info Martin.

23rd day now without money. I've had no callback from either last Friday or Tuesday when I telephoned, no emails received either. No nothing.