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

SteepPip

agonyaunt wrote: »

That is a disgusting attitude they have taken they are supposed to be acting as customer service advisors and should tell you/us what ever we want to know about our money.

Here Here...too bloody right...how dare they withhold information about the clients money...they forget that they were the ones who messed it all up in the first place, and now they hide behind some form of legal mumbo jumbo, if this is legal! I am absolutely gobsmacked....why is this acceptable...someone remind me...

Greecian

SteepPip wrote: »

ZaphodBeeblebox, PanicButton, Agonyaunt and Madre Maquina, so so sorry, but still hopeful for you. It really does mean that they have less to process now. Still here thinking about you and supporting you, Monday might be your lucky day.....

Hang on in there guys & girls. We're still here for you and asking for 'divine' intervention in some form. Just wish I could wave the magic wand for you.

Greecian

zaphod_beeblebrox wrote: »

Yet another weekend without my chaps 7/10 (will be 4 w/e's now). Sorry for thosee 3 dudes who knocked on our door (so far) with 'trick or treat' scary masks. They went .. arghhhh trick or treat!, I went AAAAAAARGH !!!! off

Careful...they'll have you arrested for scaring minors!!

northernstar5

Pete_Joseph wrote: »

Martin's earlier comment that everyone has been told they will get their money by Monday is not correct, unfortunately. I was told by ING this afternoon that they were not giving anyone deadlines anymore or even agreeing to ring back or e-mail until such time as their transfer had been resolved owing to the bad publicity they got when they were not able to meet their promises. She therefore said that she couldn't give me any time-frame when I would get my money or another e-mail or phone call and no-one in ING would now say anything more than that. I know this is different from what others have been told - they either introduced a new hard-line policy later this afternoon or are giving some of us the run around. I am still waiting for 40K transferred by BACS 7 Oct am.

I don't think this is acceptable from ING. Can it be policy??
Perhaps you should phone or email Alistair Hemmings (customer relations manager) about this [EMAIL="Alistair.Hemmings@ingdirect.co.uk"]Alistair.Hemmings@ingdirect.co.uk[/EMAIL] 0118 938 1952 He does tend to get back in touch about things.

SteepPip

northernstar5 wrote: »

I don't think this is acceptable from ING. Can it be policy??
Perhaps you should phone or email Alistair Hemmings (customer relations manager) about this [EMAIL="Alistair.Hemmings@ingdirect.co.uk"]Alistair.Hemmings@ingdirect.co.uk[/EMAIL] 0118 938 1952 He does tend to get back in touch about things.

I do agree northernstar5, that you should try every angle, as I can't believe this new policy of theirs. Just because the going is getting tough at their end, they bail out and that appears to be acceptable, but when did they give a hoot when it was tough at our end. The Hemmings man completely blanked my emails, as did KE, and I was polite then but not vocal on the forum....I just think he randomly rings people who are vocal on the forum to big up the ING/KE image, and I may be wrong, so please don't send me hate mail guys!!!!

PanicButton

Well it's been quite a successful day at our MSE "office" with, I'm sure, 30% to 40% of our lost list getting paid. To all of you, have a great Hallowe'en and weekend.
:beer: :beer:
Zaphod, you and I and our unsuccessful colleagues will resume battle on Monday! Today I e-mailed several and phoned K E but not a dickey bird came back.
Just clutching at straws, but does anyone know could transfers occur over the weekend?
Must say that I feel fairly confident that "the end is nigh"
'Night all!!!!!!!!!

SteepPip

PanicButton wrote: »

Well it's been quite a successful day at our MSE "office" with, I'm sure, 30% to 40% of our lost list getting paid. To all of you, have a great Hallowe'en and weekend.
:beer: :beer:
Zaphod, you and I and our unsuccessful colleagues will resume battle on Monday! Today I e-mailed several and phoned K E but not a dickey bird came back.
Just clutching at straws, but does anyone know could transfers occur over the weekend?
Must say that I feel fairly confident that "the end is nigh"
'Night all!!!!!!!!!

Me thinks Monday is the better day for transfers now....still here for you guys...

soulsaver

SteepPip wrote: »

Me thinks Monday is the better day for transfers now....still here for you guys...

First Direct guy said w/e is NOT in the day count for transfers - so I guess next opportunity for cash not to arrive from KE is Monday. The eternal optimist in me will mean I'll check tmoz anyhow. I'd like to think I'm patient but I really do feeel for those that have had promises broken... it is so maddening to be so near... and then back to the start. I'll be really surprised if mine happens Monday... and I'll be chuffing hopping mad if it don't:mad:

menbed

Hi,
Just been tracing up some of the latest info from ING Direct, it seems that they are asking staff at KE to work over the weekend to help reduce the back loggm now if this is a fact them some of the pressure is starting to bite
at the folks in thier Ivory Towers.

Looking at some other forums then, I would say with out a dou't that this one, has the most clout, and due to the number of posts and support for
less lucky posters who not got thier money, has become the most influential
of all.
I hear part of the J Vine show on Radio 2 today, and Sally Magnason, daughter of Master mind's Magnas, sort of been resigned to her savings beening lost in the collapse of the Icelandic bank's in fact she did not race to take out here savings so's not to add to, or be part of a run on the home land's banks, or what was left of them.

I just wish that ICELAND's banking vikings, would be as noble and at least give something back tofolks that have lost money, in the ICE SAVE banking.
so up to the 19 K that they did say they would in better times.

And that Icelander's have started a website, to protest at our Government
using the Anti Terrorist law to stop the icelanders taking more of their Ill gotten gains.
If thats all they have to worry about then, they deserve more that a legal
step thrown at then to stop then absconding.

I now think that we need to all, give more support, the folks who are still waiting for their money, I have only jsut received mine 30/10/2008, and I know what it's like, wer all have to work, plan and scrimp to get the cash
it's not falling off tree's and to be treated with such comtempt, by the people that are charged and paid top dollar by our government, is now reached
the , in my mind the limit.

We should as a group give them a FINAL DAY, when all monies owed have to be paid in full, along with all BAC 's refunds also full intrest paid up to date.

none of this"We have a problem Huston" and are working on it.rubbish , while the ING brigade are coining in loads of interst, to finally close this Chapter on
KE/ING,

lets let them really feel people power, not that I advicate civil disobediance
but see the French taking this with such a stiff upper lip, they would MAKE THIER GOVERNMENT TAKE ACTION NOW, RIGHT NOW.



anyway enough about the so called vIKINGS

dag_2

I'm sorry to hear that some people are still waiting for their money. The statement currently on the ING website says that the ones still outstanding are those which were from just before KE went into administration; I don't see any reason to doubt that, since my new withdrawals seem to be going through in normal timescales.

That said - I withdrew £1 this week, I requested it as a BACS withdrawal (obviously) and it appeared on my current account statement as F/FLOW, which I understand usually means a CHAPS receipt.

Also - I've tried making a deposit back into my KE account, I'm pleased to say that went through okay as well.

I hope this doesn't sound like gloating, but if it's true that the only people who are still waiting for their money are those who tried to make withdrawals in that short time-frame when it all went off in the press, then I sincerely hope this encourages people to think rationally before they participate in a run on a bank in the future. In this particular case, it looks like it's the people who have taken part in that run who have got stung. The people who held back have now mostly been sorted.

It's not that I think KE and ING have planned it this way deliberately. No, my suspicion is that the software methods that deal with the transactions in the customer account database were probably never written with the possibility in mind that a large number of the payments it tries to issue could fail. Exceptions were probably being thrown mid-transaction, and the roll-back code that was supposed to ensure that the books would still balance after a failed transaction probably also threw exceptions too.

On the other hand, maybe it wasn't a software thing; maybe it's simply the case that transactions routinely require manual staff action. If that's the case, then it stands to reason that when you get a lot of transaction requests put through at the same time, then they start to run the risk of only getting half-done, simply because the staff aren't able to cope with the workload. I guess this is far more likely to have affected CHAPS payments than BACS payments.

Either way, staff have probably had to match logs of incomplete transactions back to whatever backups and records of the original accounts they can find manually, in a way that the system was never really designed to deal with.

But then, these would be process issues, albeit ones which only arise as a result of a liquidity issue. My point is that I think that such process issues could happen to any bank.

What about Icesave, though? Although you could say that with KE, it was those who didn't wait, rather than those who did, who got stung, you could argue that it was the other way round for Icesave. Still, early days yet, there are still lots of people waiting for their money, and it would be foolish at this stage to try to guess what order they're going to get it in.

Let's hope that everyone gets their money soon, regardless of whether they have panicked or not. Let's also hope that the regulators take notice of the issues that have come up, so that we can prevent this sort of thing happening again.

http://news.bbc.co.uk/2/hi/uk_news/wales/7698525.stm