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

jongilly

jongilly wrote: »

I sent £30k to KE via chaps on 21st october.. its still not there.

Please help !

Thanks

Jonathan

The KE MSE phone number is for problems withdrawing funds only. Well so says KE hotline number

Been on the phone to the FSA, they stated that ING / KE are in default and they will appointed an investigator.

What ever this means.

jsd

I got my money credited to my KE a/c today after three weeks.

I think it'll all go through properly for everyone in the end btw as E&Y have finally realised that they've breached a direct FSA ruling in leaving their KE computers on !

The legal nuts of it is as follows:

http://search.atomz.com/search/?sp-a=sp1002a2c3&sp-p=all&sp-f=ISO-8859-1&sp-t=FSAsearch.tpl&sp-k=Library&sp-q=KSF

I never thought I'd enjoy living in a regulated world !

Even the senior guys at E&Y must have realised what a complete pig's ear their so called team of amateur 'administrators' were making of it.

If you still don't satisfaction in a few weeks - have a word with the financial ombudsman (address on the ING site). They can't wait to have a go on this one !

Good luck to all folks out there still waiting

jsd

tingly

Hello everyone,
Just a little message. I opened a Halifax savings account in order to spread my investments around and keep under the 50k rule.

I then checked this site, and noticed that Halifax and Birmingham Midshires are part of the same group, and as I already had 50kin midshires, i decided not to proceed with the Halifax account.
I rang the Halifax and selected the "if you wish to close your account" option given on the recorded message,
A man then asked me my details ,and asked me why i didnt wish to proceed. I told him the 50k rule prohibited me from going ahead, as i require safety.
He virtually laughed at me, and said "there is no such rule, it is just media who tell you that. If you want to believe everything you read and hear , its up to you, but when did you last hear of a bank going bust?"
Just for devilment, i said i had already lost 35 in an icelandic bank, and that i also worked in an fsa office, so i was sure of my facts!!1 ( i dont!)
He then quickly put the call on hold before i could ask for his name, and passed me through to someone else.

I just find it amazing that people are allowed to say such things!
tingly

penrhyn

Well in a sense he is correct there is no rule. Its good sense that suggests you spread your investment between different institutions.

gldkg

I'm happy to report that a few hours after my call to the MSE Helpline the money appeared in my account :T

Coincidence or notI don't know... I'm not really bothered and am just glad to get out of that hell-hole.

Thankyou to everyone on this thread for their support :beer: :beer: :beer:

PJL1

penrhyn wrote: »

Well in a sense he is correct there is no rule. Its good sense that suggests you spread your investment between different institutions.

Yes there is a rule! This from FSA website
From 7 October 2008 the Financial Services Compensation Scheme (FSCS) can pay compensation for financial loss of up to £50,000 for deposit claims (which is 100% of the first £50,000 of your loss). But bear in mind that if you owe money to the failed firm (for example, loans, mortgage or credit card debts), this is taken into account before any compensation is paid.
If you hold multiple accounts in banks that are part of a larger group the following applies:

• If each of the banks is separately authorised by the Financial Services Authority FSCS would pay compensation up to the limit of £50,000 per person, per authorised institution.
• If each of the banks is not separately authorised but is covered by the parent company's authorisation FSCS would pay compensation up to the limit of £50,000 once, irrespective of how many different institutions a person held accounts with.

northernstar5

northernstar5 wrote: »

And also haider - who had the list in between tmvc and myself

And also hometune! Sorry - didn't mean to leave you out!

mrarnald

jwlc wrote: »

Was meant to receive a phone call from "head office" today but never got a call. However I did receive the CHAPS payment finally!

Thanks to everyone who has contributed to getting this mess sorted out.

Hooray.. :beer: :beer: :beer: :j :j :j :T :j :j

I think it is apparent now, that as far as receiving money back, it is a matter of when not IF! Lets hope everyone on this Forum has their money back by the weekend.

mrarnald

Scorpion1 wrote: »

Has anyone tried paying in to their account?

:eek: :eek: :eek:

mrarnald

jongilly wrote: »

I sent £30k to KE via chaps on 21st october.. its still not there.

Please help !

Thanks

Jonathan

To KE :eek: Seriously though! You should take the matter up with your bank you initiated the transfer from.