Kaupthing Edge money missing

GodsLittleBrother

An elderly relative of mine had an account in 2008 with Kaupthing Edge.

They thought the money had been lost, so didn't chase it,  but Martin Lewis says no one lost money. 

I have tried contacting the FSCS, who cannot help. 

I cannot get a response from ING and Barclays says they didn't take over these accounts. 

Has anyone else come across these issues or know how to resolve?

TheBanker

Kaupthing Edge's UK operations were taken over by ING Direct.

ING Direct's UK operations were then taken over by Barclays. 

So you have asked in the right places, assuming the original account was domiciled in the UK and not elsewhere. Have Barclays actually searched for an account using your relative's details? As it's unlikely a call centre advisor or branch cashier will be aware of the takeovers that happened more than a decade ago.

Hasn't your relative received any correspondence about this account since 2008?

masonic

ING Direct sent out email communications to all known Kaupthing UK customers about the takeover of their accounts in 2008, though this would only apply to those registered with the UK arm of the Icelandic bank. ING Direct ceased its UK savings operations about 10 years ago.

Seems odd that they would have concluded the money had been lost, with the news headlines of the time proclaiming that all such deposits were being protected.

After 15 years, and two takeovers, it's going to be quite problematic to track down what happened to the money. You could try using a lost bank account tracing service, see https://www.moneysavingexpert.com/reclaim/reclaim-lost-assets-free/

noh

As stated above ING took over Kaupthings UK business.
An email was sent to Kaupthing customers informing of this. I received mine on Sunday October 12th 2008.
On 20th October 2012 I received an email from ING direct informing me that Barclays had accuired all ING Directs UK savings accounts.
On 12th March 2013 I received an email from Barclays Direct informing me that all ex ING savings accounts were being moved to the Barclays platform.
On 9th July 2014 I received an email telling me my account had been moved to the Barclays platform.

TheBanker

noh said:

As stated above ING took over Kaupthings UK business.
An email was sent to Kaupthing customers informing of this. I received mine on Sunday October 12th 2008.
On 20th October 2012 I received an email from ING direct informing me that Barclays had accuired all ING Directs UK savings accounts.
On 12th March 2013 I received an email from Barclays Direct informing me that all ex ING savings accounts were being moved to the Barclays platform.
On 9th July 2014 I received an email telling me my account had been moved to the Barclays platform.

When you moved to Barclays, did you receive a new account number?

Do you still have the Barclays account? If so, do Barclays Direct still exist and do they have different contact details to the 'normal' Barclays? This may help the OP's elderly relative contact the correct part of Barclays to find out what happened to their account.

flaneurs_lobster

noh said:

As stated above ING took over Kaupthings UK business.
An email was sent to Kaupthing customers informing of this. I received mine on Sunday October 12th 2008.
On 20th October 2012 I received an email from ING direct informing me that Barclays had accuired all ING Directs UK savings accounts.
On 12th March 2013 I received an email from Barclays Direct informing me that all ex ING savings accounts were being moved to the Barclays platform.
On 9th July 2014 I received an email telling me my account had been moved to the Barclays platform.

Very impressive email archiving there.

GenieBoy

I remember ING Direct, had an account since 2003 then got moved to Barclays and I closed the account shortly after that.

I also had an Icesave account back in 2008.

noh

TheBanker said:

noh said:

As stated above ING took over Kaupthings UK business.
An email was sent to Kaupthing customers informing of this. I received mine on Sunday October 12th 2008.
On 20th October 2012 I received an email from ING direct informing me that Barclays had accuired all ING Directs UK savings accounts.
On 12th March 2013 I received an email from Barclays Direct informing me that all ex ING savings accounts were being moved to the Barclays platform.
On 9th July 2014 I received an email telling me my account had been moved to the Barclays platform.

When you moved to Barclays, did you receive a new account number?

Do you still have the Barclays account? If so, do Barclays Direct still exist and do they have different contact details to the 'normal' Barclays? This may help the OP's elderly relative contact the correct part of Barclays to find out what happened to their account.

Barclays took over the ING Direct business in October 2012.
The ING Direct website was rebranded Barclays Direct until summer 2014 when accounts were migrated to the Barclays bank platform and a new account number issued.

noh

flaneurs_lobster said:

noh said:

As stated above ING took over Kaupthings UK business.
An email was sent to Kaupthing customers informing of this. I received mine on Sunday October 12th 2008.
On 20th October 2012 I received an email from ING direct informing me that Barclays had accuired all ING Directs UK savings accounts.
On 12th March 2013 I received an email from Barclays Direct informing me that all ex ING savings accounts were being moved to the Barclays platform.
On 9th July 2014 I received an email telling me my account had been moved to the Barclays platform.

Very impressive email archiving there.

I use Yahoo web mail which has unlimited storage so all my emails are still available.
I'm not organised enough to archive them myself!

Millyonare

There were 3 main saviours in 2008.

1. Iceland Central Bank (CBI)
2. Dutch Central Bank (DNB)
3. UK Treasury (UKT)

I'd contact the deposit-guarantee arms of all those three institutions. See what they say. For example, the DNB operates the Dutch Deposit Guarantee (DDG) scheme, which partly handled ING savings.

A good refresher from a 2008 biz article here.

https://www.thisismoney.co.uk/money/saving/article-1643758/ING-buys-up-bust-Kaupthings-UK-savings.html

Good luck.

GenieBoy

Barclays Direct did not take over ING until after early 2013. I still have statement emails from ING from early 2013 and there is no mention of Barclays even in the small print/legal info. First mention of Barclays Direct wasn't until April 2013.

Barclays Direct didn't get absorbed into Barclays until 2014.