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

stratford_2

This is an excellent thread and I thought it would be helpful to contribute with my update.

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CHAPs late pm on 7 October

No e-mail or message etc.

Phoned the special 'hotline' on Friday 24 October and name was added to spreadsheet and told a manager would call back by Tuesday.

KE rang on Tuesday and said that money had been traced and would be in linked account (lloydstsb) by close of business on Thursday 30.

Checked bank account late yesterday and it wasn't in. Just checked and the full amount is now in, but with a transaction date of 29 Oct

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Good luck to the rest of you still waiting, but it does look like the payments are being made as promised!

MSE_Martin

IMPORTANT NOTE: CASE STUDIES NEEDED ASAP FOR THE GUARDIAN

Having spoken to the Guardian earlier it is looking to do a piece. To help this we need case studies of people who have not got their money yet. If you are willing to be a case study can you send a very brief summary of your details and a phone number you can be contacted on today to EMAIL REMOVED AS ALREADY HAVE ENOUGH.

Thanks

Martin

leosayer

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.

Yes, my wife requested a CHAPS on 2nd October, around £23,600. It was returned to our account 2 days later and despites endless promises over the phone that they would send it again nothing has appeared on our KE statement. We've been chasing 2-3 times a week and even had a few phone calls at home from a manager/supervisor.

2 days ago they advised us to send a BGC instead as (apparently) it was only the CHAPS payments which were held up. This has now been debited from our KE account, I am waiting for it to hit our IF account tomorrow or Monday.

Katykay

normanb wrote: »

The www.fool.co.uk site announcement appears preoccupied with CHAPS transfers having gone missing.

Our missing payments are through the BACS scheme. We're even more worried now.

APACS understands, after discussion with KE:- "While customers’ on-screen statements might show that money has been moved, it is actually still with Kaupthing Edge -- now under the control of ING Direct."

If the money hasn't left KE and is in the control of ING Direct, why can't KE or ING can write us a cheque now and find/cancel the payments that are lost in a clearing bank system and do their inter-bank reconciliations in their own time.

Normanb, Do not be more worried after reading this article. It was written so long ago that it's contents are not up to date.

bigg

stratford wrote: »

This is an excellent thread and I thought it would be helpful to contribute with my update.

---

CHAPs late pm on 7 October

No e-mail or message etc.

Phoned the special 'hotline' on Friday 24 October and name was added to spreadsheet and told a manager would call back by Tuesday.

KE rang on Tuesday and said that money had been traced and would be in linked account (lloydstsb) by close of business on Thursday 30.

Checked bank account late yesterday and it wasn't in. Just checked and the full amount is now in, but with a transaction date of 29 Oct

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Good luck to the rest of you still waiting, but it does look like the payments are being made as promised!

That’s brilliant, I hope we see many more of these today.

Greecian

Ok, so who do I believe? Nice lady who guarantees my money by COB tomorrow or this email.........So, 2 emails saying 'awfully sorry but we appear to have lost your money' versus nice lady 'found money and it's somewhere between us and your bank'....Just glad I haven't got high blood pressure...actually I probably have now, but won't know until I collapse. Think I'm losing it!


Latest email....which some of you might recognise....

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

Since Kaupthing Edge customers and savings balances were transferred to ING Direct on 8 October we have been working with the Kaupthing Edge Administrator to resolve a backlog of payments. There are still outstanding payments that need to be resolved and the majority involve payments originally requested between the 6-8 October. This was at the time when the company went into administration and before the transfer to ING Direct happened. The Administrator tells us that these payments are now being made and we will be working with them to clear these final payments.

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 contact you either as soon as your transaction is released or within 48 hours with a further update on timescales.''

UnhappyHarry

Whether ING's difficulties are legitimate or not, surely to goodness they can manage to process more than 2-3 missing payments per day?

What on earth are they doing? Even if they only had ONE PERSON working on this, their output would surely be better than they're currently achieving.

I beggars belief that these people think that they can run any business, never mind a bank (and I bet that some of these incompetents will receive huge bonuses for their efforts).

stratford_2

bigg wrote: »

That’s brilliant, I hope we see many more of these today.

I hope so too!

PanicButton

Can you believe this?

CS08 Company of the Week: ING

The Financial Services Roundtable SmartBrief | 10/30/2008

ING recognizes that employees need to balance their work and life interests, and part of having a better quality of life means employees are able to connect with their communities.
Through ING's Volunteer Time Away program, employees across its U.S. operations can take up to 40 hours of paid time off a year to volunteer in their communities. As part of that program, ING employees volunteered more than 8,400 hours during the summer. Activities included partnering with City Parks Foundation in New York City to plant trees in a park; helping to build a "green" Habitat for Humanity House in Des Moines, Iowa; teaching children in Denver how to run a business through JA BizTown; delivering meals to the homebound in Minneapolis; serving as mentors to children in Big Brothers Big Sisters in Windsor, Conn.; and staffing events or cheering on athletes at the Georgia Special Olympics Summer Games in Atlanta.
For more information on CS08 Company of the Week, click here or contact Elise Brooks, [EMAIL="Elise@fsround.org"]Elise@fsround.org[/EMAIL].

agonyaunt

I have just spoken to a trying to be helpful "customer service" lady and told her i will need my money to pay my next week bills as i will not have any money to pay them. She has suggested i write a letter of complaint to KE and they would have to look at it and i might possibly get an answer from them as she can not tell me anymore that what i already know. I lost count of how many complaints i have made on the telephone but that does not seem to count.
:mad: :mad: