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

Tozer

fwj wrote: »

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

Doesn't irritate me in the slightest. But we have and excellent service in the FOS and to use it you must follow the OFFICIAL complaints procedures.

As for the administrators personally, they won't give a stuff about individual complaints.

ikke

Lucky that I just did the IMC exam and have learnt that every bank has to have a complaint procedure according to FSA rules.
Write the complaint to

Kaupthingedge
PO Box 9403
Nottingham
NG9 9DR

and put in the subject that it is an official complaint.

Under FSA rules they have to react within 1 week. If they fail to do this, or if the answer is not satisfying, you can write to the Financial Ombudsman.

Don't let them brush you off by saying that you should complain to the administrators. This is exactly our point: we argue that ING should be responsible for this (so we should complain to them), while ING states that it is not them. I will write a letter myself and say that they should be dealing with it and not the administrators of Kaupthing.

ikke

Lucky that I just did the IMC exam and have learnt that every bank has to have a complaint procedure according to FSA rules.
Write the complaint to

Kaupthingedge
PO Box 9403
Nottingham
NG9 9DR

and put in the subject that it is an official complaint.

Under FSA rules they have to react within 1 week. If they fail to do this, or if the answer is not satisfying, you can write to the Financial Ombudsman.

Don't let them brush you off by saying that you should complain to the administrators. This is exactly our point: we argue that ING should be responsible for this (so we should complain to them), while ING states that it is not them. I will write a letter myself and say that they should be dealing with it and not the administrators of Kaupthing.

ikke

Lucky that I just did the IMC exam and have learnt that every bank has to have a complaint procedure according to FSA rules.
Write the complaint to

Kaupthingedge
PO Box 9403
Nottingham
NG9 9DR

and put in the subject that it is an official complaint.

Under FSA rules they have to react within 1 week. If they fail to do this, or if the answer is not satisfying, you can write to the Financial Ombudsman.

Don't let them brush you off by saying that you should complain to the administrators. This is exactly our point: we argue that ING should be responsible for this (so we should complain to them), while ING states that it is not them. I will write a letter myself and say that they should be dealing with it and not the administrators of Kaupthing.

LardyCake

@ikke - will you be writing to them in triplicate?

rach2008

I'm so angry - I moved £20,000 into the Kaupthing term deposit account after 8 October.

I was working it out and if all of the 2000 or so affected customers put the same amount in between the date of administration and the date the 'computer glitch' was announced, then ING would have gained £40 million!!! Nice little earner for them...

skitskut

I've not had any email from ING about them returning my FTD to the instant saver. Had it not been for reading this forum I would have not known what was going on. It's really bad communication on their part.

carpy

since this outrageous bit of news from KE/ING i've been waiting on a BACS transfer out (of the money that should have been in their fixed account!!).

i actioned it late on the 11th Nov so it left 12th Nov. i was expecting it to credit in my linked account on the 14th (friday), the 3rd working day as all previous withdrawals i've made have done.........however not on this occasion. still no sign yesterday the 17th (4th working day) and still no sign today.......so far......but they told me it should be by close of play...

it's not good enough, it's for quite a substantial sum so i'm losing interest plus losing time on getting to another instituation for an alternative fixed term product!!

SunKing_2

Same here after the FTDs for my wife and me were terminated, I got so upset that I withdrew all the money on the 11th 2 minutes before midnight, but the system did not let me, so I waited for 4 minutes and then entered the transactions. The transactions were accepted and I have noted down the transaction numbers, but no money has arrived in my account yet. I have been on the phone three times today and three times yesterday, and gave them transaction references. They have put my case on a spread sheet .. well that is what they tell me, and now waiting and waiting for something to happen. The worst thing is B&B (Santander) has requested money from my account and if the money do not arrive, I am going to loose a good rate of interest on my savings ...

SunKing_2

Now about the FTDs : I originally opened them on 18th August, but panicked when ING announced that they will keep in tradition with their policy. To me it meant that they will close all the FTDs, as ING do not have FTDs. So I closed the FTDs and was going to withdraw all the money. Next day ING announced that they will hnour all the existing FTDs. So I put the money back and rang the Helpdesk, I was told that as the account has been opened they will honour it. This was the email in my account:

Dear xxx
I have looked into your account details and can see that your fixed term deal is still in place with Kaupthing Edge. ING have advised that they will be honouring all interest rates on this account.
Yours Sincerely

Kaupthing Edge
Name of the support staff suppressed

but it does not change anything, and I am too tired to make a lot of fuss so just took all the money out on the 12th Nov, but still waiting it to arrive in my account .