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

ed123_2

...thank you guys v much re mse helpline number (0845 131 3234) they did a chaps payment today. (original bacs request 12th November-6 working days) now you would,nt have an Icesave number....<:-)~....

carpy

same here 6th working day........wasn't in there at lunchtime today........but on checking now it's there (and showing as chaps???).

i've told them what i think and i expect to be compensated for the delay!!!.........nevermind the issue of cancelling my fixed term product!!!

temba

I opened mine on the 10th October, but have had no email and the money is still showing in the fixed term account at the moment. Am I to assume that I've got away with it or that for some reason my email has got lost?

I emailed KE after ING took over and they told me that the interest rate would be honoured.


GRRRRRRR

temba

I just checked.... and actually I was wrong, it was the 8th October, so perhaps I am just one of the lucky ones? In just in time....

I think what they have done is criminal IMHO

SunKing_2

I am with Talktalk and I get Telephon Numbers starting with 01 02 and 03 Free. Any one in similar position should look for equivalent number in http://www.saynoto0870.com/
instead of paying extra charges. For Kaupthing : 0115 983 6331 for ICESAVE it is 0191 255 8377 For Halifax: 0113 380 9574
the site is saynoto0870 ... Lucky temba .. I was not that lucky but now I am ready to give boot to the KaupthING for ever, and as the money has arrived just need closing all the accounts with them and collect residual interests.

martint123

I set up a BACs transfer out on the 21st (Friday) and I got a phone call from my bank saying it had arrived on Monday afternoon.

Gobsmacked that (1) they seem to have used CHAPS (free) and (2) a call from my normal bank telling me it had turned up.

ed123_2

....I like it when they say you "attempted" to open a fixed rate account...I did't bl**ding well attempt to open the account, I DID open the account.
As a point of law a contract is made when there is an offer & acceptance, as far as I'm concerned a binding contract was made.....

carpy

ed123 wrote: »

....I like it when they say you "attempted" to open a fixed rate account...I did't bl**ding well attempt to open the account, I DID open the account.
As a point of law a contract is made when there is an offer & acceptance, as far as I'm concerned a binding contract was made.....

i agree:T

has anyone successfully argued their case with KE/ING/administrators and had their account re-instated??

terry2

ed123 wrote: »

....I like it when they say you "attempted" to open a fixed rate account...I did't bl**ding well attempt to open the account, I DID open the account.
As a point of law a contract is made when there is an offer & acceptance, as far as I'm concerned a binding contract was made.....

BUT... that is only the case if it is lawful for them to make the offer. IMHO the supervisory notice issued by the FSA will trump normal contract law.

having checked what the kaupthing supervisory notice says the relevant points are-
" 2 The requirement is that the Firm must refrain from accepting any deposits into:
a) any existing deposit accounts; or
b) any new deposit accounts. "
and
"5) The requirement takes effect at 1:30pm on 8 October 2008 "

So they are forbidden to accept any new money, and forbidden to open any new account into which you can transfer money already within kaupthing.

Boohoo.

I think the only thing you can moan about is delays in getting new money back to you.

It is possible that KE/ING thought at first that the notice just meant they couldn't take new money, and have only just realised that it was (or could be interpreted as) more restrictive.

agsnu

terry2 wrote: »

BUT... that is only the case if it is lawful for them to make the offer. IMHO the supervisory notice issued by the FSA will trump normal contract law.

That supervisory notice refers to KSF, but the control of KE had by that point already shifted to ING - who had no such restrictions on them. Indeed, they are still accepting deposits into their variable rate instant access account.