Moved money from KE on Sat - BACS transfer - and again, this morning - CHAPS transfer. No funds have arrived in account yet. Anyone with same problem?

what does your online account say?

Yep, there's a whole thread on MSE with lots of people reporting their money has gone 'missing' in midair

http://www.mortgagebrokers4london.co.uk/ar...article_id=1077

Kaupthing Edge bank’s UK operation closed down by the FSA - 8th Oct 2008

Kaupthing Edge is the second Icelandic bank to collapse is as many days, leaving hundreds of thousands of British Savers with no access to their money. Financial Services Authority (FSA) has closed down its British operations.

British operation for the bank is conducted by Kaupthing Singer & Friedlander have been closed down the FSA and all its savings business are being transferred to ING Direct and its other operations have been put into administration.

It is also believed that the deposits from another Icelandic bank Heritable are also being bought by the ING.

The FSA said that it took the action because it believed that the bank was unable to meet its obligations to the depositors. It also said that the bank is in default for the purposes of the Financial Services Compensation Scheme.

It is believed that this action will safeguard the British savers and they might not have to go through the compensation scheme to reclaim the money.

This follows the collapse of Icesave, another Icelandic bank operation in UK. Icelandic government first promised 100 % deposit guarantee, but after a day changed that position and stated that only Icelandic customers will qualify for the 100 % guarantee.

i hope this website is wrong for your sake

and the good news is:- http://www.moneymadeclear.fsa.gov.uk/news/...thing_edge.html

Kaupthing Edge savings accounts

Kaupthing’s Edge savings business has been transferred to ING Direct.

Mortgage and loan customers’ terms and conditions remain the same and you should continue to make repayments as usual.

These steps have been taken to keep customers’ money safe – customer accounts remain open and can be accessed in the usual way.
Is my money safe?

Kaupthing’s saving business has been bought by ING Direct to protect your money.
What does this actually mean for depositors?

All retail Kaupthing Edge savings accounts have been transferred to ING Direct.

And I'd like to take this opportunity to thank the fine folks on this forum who drew attention to the risks of Icelandic banks back in March. I got as far as getting the paperwork from KE, but didn't go through with it when I read about the risks. It also got me steering clear of Icesave.

It sounds like things have just about worked out (this time), but I imagine that if the Icelandic banks had gone bust even a few months back, the customers would be facing a long wait to get their money back.

Now if I'd only bought some gold, instead...

Many thanks everyone for the replies - have checked my bank account this morning (Thurs 9.25am) and no monies, either from the BACS or CHAPS transfers. Feeling rather "jittery" to tell you the truth and will post later on today towards the close of banking to let you all know the situation. Hoping that the CHAPS transfer is just late because of the transfer but REALLY worried about the BACS transfer on Sat.

Thanks for all your comments.

Account said money moved on Mon (first business day) but still no sign of money in a/c.