Kaupthing Edge Problems

mjmal51

oldagetraveller wrote: »

Applied for account Sunday, received e-mail with a/c no. yesterday along with password by post - very efficient. Compare that to B Midshires with whom i made a postal term account application two weeks ago, still waiting for form to send back with cheque and they don't answer the 'phone or e-mails so given up with them.
However when I tried to log in and had to input selected letters from my chosen "word", my mother's maiden name which in the application i entered with a space between Christian and surnames, their (KE) sytem would not recognise the space. Possibly they were experiencing problems but just as a precaution I 'phoned (connected very quickly) and the pleasant helpful lady reset my "word" without the space, she didn't know how the space should be entered even after asking someone else at the call centre (supervisor possibly). Surely I wasn't the only person to put a space between 1st & last name during application? It did take two or three more attempts to log in even with the reset

I think that you are alone here. Mother's maiden name traditionally is taken to be her original surname. Very unusual to put Christian name also.

nzseries1

For me, Kaupthing Edge have been great, their staff are always polite and easy to understand, however I had to make three calls for them to change my email address. The first two calls they said they had done it and it would update on the system in 24 hours - it never did.

But, I'm going to stick with them. The OP here points out a scary problem though... glad it's sorted!

eddyatkinson

After a recent email I sent to Kaupthing Edge, they have informed me that they WILL be using the Faster Payments system, however wouldn't confirm a date for this, and will notify customers closer to the time, which is a benefit to RBS Group (inc NatWest) who are the first bank to fully use Faster Payments with no £20 limit! Kaupthing Edge always have top class customer service! I only wish they had a current account...............

~Chameleon~

Slightly off-topic here but related to the current conversation - when I transfer money into my Egg Savings account (via debit card) the balance shows immediately. Is this part of the Fast Payment system or something completely different?

And also, if they can receive the money immediately (even before it's left my current account!) why can't other banks do the same?

hbl_2

I had no probs setting up my account. Even needed to give them a call, straight through, issue solved. ICICI had teething trouble when they got recommended by Martin. Perhaps it's the Martin Effect?

chris1

~Chameleon~ wrote: »

Slightly off-topic here but related to the current conversation - when I transfer money into my Egg Savings account (via debit card) the balance shows immediately. Is this part of the Fast Payment system or something completely different?

It's not part of the faster payments system, it's different. Also you won't earn interest on it for a few days.

genny

Pleased to say my transfer arrived in my KE account this afternoon, which was 3 days from the BACS sending.

Overall, so far impressed, the website is fast and clear, the telephone response for the minor issue I had at the beginning first class.

I'm now happy to recommend KE fully

exel1966

genny wrote: »

I made a first deposit on the 10th, via my internet banking "payments" BACS from my linked account, the money went from my linked account later that day, but 2 days later still hasn't arrived in my Kaupthing account, although I can log in fine, but balance just shows zero.

I assume it'll appear in the next day or two, but where is it at the moment? Who holds it, is interest being earned on it? I don't understand how a BACS payment can take 3-4 days, especially as from the linked account it left pretty quickly, surely it leaves one account and arrives in the other?

As has already been said, this is very standard, but as of 27/05/08 (06/06/08 for S/O's) the new faster payments sytem became active which will mean same day transfers for those banks that have the system capabilities now. By year end most S/O payments, internet and phone payments will use the faster sytem.

whu

KE does not have the facility for faster payments at the moment but hopefully will have in the future

genny

exel1966 wrote: »

As has already been said, this is very standard, but as of 27/05/08 (06/06/08 for S/O's) the new faster payments sytem became active which will mean same day transfers for those banks that have the system capabilities now. By year end most S/O payments, internet and phone payments will use the faster sytem.

Whilst I understand this, no-one seems to have clarified where the money goes whilst it is "in transit", and who is earning interest on it. It disappears from the sending bank account the same day the transfer is initiated but takes 3-4 days to appear in the receiving account. So where is it?! Sounds like the biggest scam on the side of the banks, they could be making millions from money "in transit" from billions of 3-4 day BACS transactions.