KAUPTHING NEWS - ING are rejecting any fixed term accounts bought after 8 OCT

carpy

EalingSaver wrote: »

I feel the need for a new action group. I believe they must be on EXTREMELY dodgy legal grounds. They have sent out plenty of communication and posts about the savings 'being transferred' and 'your accounts will operate normally'. Therefore, if I move money from instant account into an FTD, AND THERE IS NOTHING ON THE WEBSITE TO THE SAY THIS WILL BE AN INVALID TRANSACTION, they must be on extremely dodgy territory.

I've not checked yet to if I got hte email, but hadn't as of mid afternoon today.

I hope someone has kept most of their initial news posts on the takeover before they remove them from the various websites.

They can' ton the one hand make a statement that your accounts will operate normaly, and then later say they don't have responsibility for the systems i.e. the operation of the accounts!!! Misrepresentation on several fronts.

i agree entirely..............we should all complain very loudly........and maybe Martin Lewis will take it up on our behalf:money: :beer: :T :money:

Tozer

fwj wrote: »

I've just emailed their Head of Corporate Communications, Martin Rutland at [EMAIL="martin.rutland@ingdirect.co.uk"]martin.rutland@ingdirect.co.uk[/EMAIL] and hope many others will do the same!!

So you email the Head of PR. What is he going to do?

I've made a complaint in accordance with, wait for it....their complaints procedure.

It's been acknowledged and if there is an absence of sympathy I will probably issue a claim in the County Court.

Don't bother with the stupid emails. Either do things properly and not pick on an individual who will bin your emails or don't do anything and stop whinging.

kassielucy

Alright sweetie, thanks for the constructive advice, but less of the sarky tone. And whinging is what people do on forums, it's kind of what they're for, that and sharing useful information that will help each other out. Disdain for other people who are in the same situation as you but with no clue how to sort it out does no-one any good. Please do let us know how your complaint goes and whether you receive an adequate response.

redsox_2

It's now made it to BBC news.
http://news.bbc.co.uk/1/hi/business/7727159.stm

I'm suprised there are 2300 people affected by this saga.
As some people said previously, we should stick together and make sure they will honour our bonds as promised.

Also as I suspected, ING/ KE did something completly illigal.
Have a look at this. This is what they posted on their site.

Payments In
Can anyone possiblly read "They are NOT accepting any deposits" there?
While they were banned from taking any deposits, they were saying they were accecpting money with a bit of problem!
Fixed Term Product Accounts
I have no idea why this can mean "we are not honouring any fixed rate bonds afetr 8th Oct."

UPDATE: THURSDAY 23RD OCTOBER, 18.00PM

PAYMENTS UPDATE:

• Backlog of Withdrawal Payments:
  We are pleased to confirm that the backlog of external payments requested on or before Monday 20th October has now been cleared. These payments have been sent out and have started appearing in destination bank accounts.
  If you have any further queries on payments that were requested on or before Monday 20th October, please contact our Customer Service team on 08451 31 32 34.
  Withdrawals from Tuesday 21st October:
  BACS transactions are being processed within normal timescales and will be credited within 3 working days.
  We are currently unable to process CHAPS payments within the normal timescale (i.e. same day or next day) and these requests will take 3 days. Please use the BACS service until further notice so that no fee is incurred.
  Interest adjustment and refund of CHAPS fees:
  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. An update will be posted on this page next week, giving further information and an update on timings.
  Payments In
  Not all payments in are being processed normally. We are continuing to work to resolve this and will issue an update as soon as possible.
  Fixed Term Product Accounts:
  Customers with deposits in a Fixed Term Savings accounts can be assured that these rates will be honoured by ING Direct for the remaining term of the accounts
  Thank you for you patience, and once again we apologise for any inconvenience and distress that payment delays have caused.
  More news from ING Group
  ING’s position as a strong and healthy bank has been boosted by the Dutch Government. It is making a €10 billion investment in ING and comes at a time when Governments all over the world are taking steps to support their major banks. This means ING is now an even stronger company for you to have your savings with.
  
  

atypical

Woah, lucky I started mine on 8th October.

ray123

I am up for complaining. I have left £1 in account for now, but am happy to organize a protest on Westminster...
Seriously, I would love to take it further, but i think we should wait to hear from Martin 1st.

neilsedaka

I have phoned KE and have logged a complaint. The official route to persue a complaint and/or claim is to write to the Administrators ...

Administrators Of Kaupthing Singer And Friedlander
One Hanover Street
London
W1S 1AX

neilsedaka

sloughflint wrote: »

Surely the complaint should be with ING?

I phoned ING and was advised that I need to phone Kaupthing Edge because ING are not handling KE complaints. I then phoned KE and was advised that the only way that I can progress a complaint is to write to the administrators. The person at KE appeared to be understanding and was quite concerned about my plight. I got the impression that she was as helpful as she could be. She volunteered that the whole issue had been rushed and had been handled badly.

fwj

Tozer wrote: »

So you email the Head of PR. What is he going to do?

Don't bother with the stupid emails. Either do things properly and not pick on an individual who will bin your emails or don't do anything and stop whinging.

I was merely trying to assist HUNTERR1 who clearly wanted the satisfaction of an email address.

For my part, I have found it useful to email personally one of the administrators and also the compliance officer at ING Direct (whose names I shall withhold so as not to irritate Tozer) but for those interested in knowing more about the administrators have a look at:

http://wck2.companieshouse.gov.uk/bda1a11b4de0ece0e111b0941daaf0a3/practdetails?casenumb=1&casetype=IN ADMINISTRATION

Company number: 00875947

geocacher

Shocked to hear about this - by chance - I didnt receive an email about my failed FTD.

I opened two FTDs on 3 nov and have confirmation that they were open, they were still showing as open a week later on the website. Intention was then to just sit back and let it earn the interest over the term. So this was all nearly a month after they say they stoped doing the FTD.

As with other people, had I known they were not available the money would have gone to another FTD unfortunately now not available.