Transferring money from Kaupthing Edge - WARNING

Bydie

A week ago (12 Nov) I did an online transfer from my KE savings account but to date (18 Nov) it has yet to arrive in my nominated account. KE say that the ING take-over has caused problems with administering transfers and they cannot say how long it's going to take to sort out the mess. The money disappeared from my KE account instantly and has been residing in the bowels of their accounts making money for them ever since - I am furious about this and it's caused problems because I need access to the money. So, for all who have savings with KE be aware when trying to shift it!!

ray123

I made two transfers last week and both have shown up in my nominated account without problem.

Celt08

Bydie wrote: »

A week ago (12 Nov) I did an online transfer from my KE savings account but to date (18 Nov) it has yet to arrive in my nominated account. KE say that the ING take-over has caused problems with administering transfers and they cannot say how long it's going to take to sort out the mess. The money disappeared from my KE account instantly and has been residing in the bowels of their accounts making money for them ever since - I am furious about this and it's caused problems because I need access to the money. So, for all who have savings with KE be aware when trying to shift it!!

Hi, I've had no problems transferring money from KE. I have now closed the account though.
Sorry to hear your having problems with them.

oldagetraveller

I suspect they are possibly telling you little porkies to avoid trying to trace your transfer?
I tried a test the water £1 transfer a couple of weeks ago because I have a fixed term/rate deposit with Ke maturing imminently and it arrived in my linked account the day after by CHAPS!

Baldur

Bydie wrote: »

A week ago (12 Nov) I did an online transfer from my KE savings account but to date (18 Nov) it has yet to arrive in my nominated account...

Did you use BACS or CHAPS? Most of the reported problems appear to relate to CHAPS transfers - I certainly transferred funds by BACS on 10th November, which arrived in my linked account on the afternoon of 13th.

jingle68

ive carried out a few transfers (in & out) of my KE account over the past few weeks with no problems.

Bydie

Thanks for your help/advice everyone.

I've spoken to Kaupthing Edge again and they now say that their transfer system experienced problems for those who tried to transfer money on 11th and 12th Nov. Their CHAPS system has been taken away from them and they are only able to transfer via BACS at the moment. According to the guy I spoke to, front line staff were given this info this afternoon (but there's a notice up on the KE website about the problem dated 17 October which I didn't spot until after my phone conversation with him)! They are working on getting the delayed transfers done and have told me that they expect my transfer will go ahead within the next 2 days (but they can't guarantee anything of course). They've said they will reimburse any costs that have been accrued due to this delay.

Stormy

My BACS payment last week taking money from KE arrived in my linked account no problem.