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

northernstar5

Hi - there was a post of an email I received from Alistair Hemmings - will try to find post number - which said if your money is BACS transfer and back in your KE account - just BACS it to your link account as normal.

northernstar5

Here's the info re bounced back BACS[

For those whose money has 'bounced back' to their KE account - an extract from a previous post, with info sent by Alistair Hemmings in an email:

"If a customer's funds are showing in their Kaupthing Edge account, the
customer's receiving bank has rejected the payment and the money is now
back in their Kaupthing Edge account. To move this money out, we would
ask customers to set up another transfer online and their money will
then be transferred using the normal 3 working day BACS process."

But make sure you use BACS not CHAPS! Good luck

PanicButton

Zaphod, I think I saw some of that tumbleweed you were talking about last week!

Hope the "bigg 10" get sorted out early in the week.

Apoorwoman

PanicButton wrote: »

Zaphod, I think I saw some of that tumbleweed you were talking about last week!

Hope the "bigg 10" get sorted out early in the week.

Think they are all sleeping off the Sunday roast

But I echo your thoughts and sincerely hope that they all get THEIR monies back this week. Good luck to you all, you have waited LONG ENOUGH.

melita

Unfortunately, if money has bounced back into your KE account, I think it means there is a problem with the linked bank account details (i.e. incorrect sort code or account no.). KE don't seem to know this. Before initiating another BACS transaction (as I did), double check your linked account details with KE. Watch out for those banks (e.g. Citibank) that use different sort codes for BACS/CHAPS than for other transactions.

rhinestonemaiden

Bigg and Luke and NoMoreKids should get honours for what they have done. We are watching till everyone has received their money back.

rhinestonemaiden

yeah and honours to MSE Dan and Martin as well! They have really shown now on which side of the fence they sit (the consumer) - only criticism is they took a bit of time to do it....

zaphod_beeblebrox_2

rhinestonemaiden wrote: »

Bigg and Luke and NoMoreKids should get honours for what they have done. We are watching till everyone has received their money back.

Absolute respect for the 3 of them !

agsnu

melita wrote: »

Unfortunately, if money has bounced back into your KE account, I think it means there is a problem with the linked bank account details (i.e. incorrect sort code or account no.). KE don't seem to know this. Before initiating another BACS transaction (as I did), double check your linked account details with KE. Watch out for those banks (e.g. Citibank) that use different sort codes for BACS/CHAPS than for other transactions.

Just to clarify - even if you request a "BACS" withdrawal from KE at the moment, it will be processed by CHAPS/SWIFT. If your linked account details aren't correct for this (as they won't be if you're with Citibank), then the payment will undoubtedly fail.

bigg

Evening KE fans (what? )

The list (see post #2930) hasn’t changed since this morning, so I won’t post it again.

Thank you all for your kind comments.

I’m sure a lot of the old time KE victims are still viewing the forum but are avoiding clogging it up by not posting.

As mentioned in some posts, the Citibank requires different sort codes for BACS and CHAPS transfers. ING currently only use the BACS system for the KE saga. The transfer arrives marked CHAPS.

If you have a Citibank linked destination account please try a BACS transfer again and make sure you supply the correct BACS or CHAPS sort code. Please phone Citibank before you initiate the transfer and explain the situation to find out the correct sort code to use.

This may also be true for some other banks and may be worth investigating.

Good luck for tomorrow.

Big G