Any point in calling the phone lines ?

  • jimbox
  • 16/10/08 31/05/09
  • unspecified
  • Offline
Posted: Tue, 21/10/2008 - 04:21

The IoM apparently guarantees up to GBP 50K. That covers about 10% of depositors according to the site's poll. Can anyone tell me the method to invoke this guarantee or are smaller investors being held to ransom by the larger ones clutching at straws by looking for higher level intervention by governments etc which is patently not going to happen ?

Interested in your thoughts.


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Calling KSF phone lines

  • ossigeno
  • 10/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 21/10/2008 - 04:44

I have called the KSF IoM phone lines last week after they re-opened. From my experience I say there is no point to call. Went though a pointless identity verification process for the staff to answer all my questions with a "no comment". They were only prepared to repeat the message that is posted on the website. Bear in mind we as depositors will be paying their wages now out of any funds in excess of the GBP50k per depositor before we get the remainder of our money. I say there is no point them being there. No more useful than a recorded message.

KSF Staff

  • softlad66
  • 10/10/08 27/04/11
  • a depositor
  • Offline
  • Tue, 21/10/2008 - 10:58

I have called KSF (IoM) a few times over the past week regarding the transfer I made on the 7th. While I found the staff friendly and ostensibly helpful, I did in fact get different answers each time I called with the same questions. Is this because they are being kept in the dark like the rest of us or are they being deliberately evasive?

Access to KSF systems

  • Sign
  • 11/10/08 31/05/09
  • a depositor
  • Offline
  • Tue, 21/10/2008 - 09:39

I have called KSF (IoM) twice in the last few days and on each occasion the staff have been very helpful, but they are enormously handicapped by not being able to access their internal systems, due to the suspension of their banking licence (or so I am told). This means that they have been unable to give me a reference number for the CHAPS transfer that I requested on 7 October.

I don't really understand why the staff cannot be given read-only access to their systems, which would be enormously useful to KSF depositors.


  • Gutted
  • 12/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 21/10/2008 - 09:29

As a current employee - up to this Friday - I can say that we are doing the best we can with the limited information that we have been given.

Please remember that we are caught in the middle of this and some of us have not only lost our jobs but our savings are also in limbo as well.

Just because we work for the provisional liquidator it doesn't mean that we know anything more that what is being posted on our website. If we say "no comment" or "I don't know" then it is because we cannot comment on personal view points nor do we know what is happening.

Thank you to everyone who is being patient and understanding in this troubled time.

Ksf staff

  • brokefirefly
  • 12/10/08 31/05/09
  • a depositor
  • Offline
  • Tue, 21/10/2008 - 05:01

As someone pointed out a couple of days ago, the KSF staff are caught in this even worse than many of us: they have lost their savings AND their jobs. There are depositors who may not have access to the internet, so for those people hearing the message on the website might be useful. The wages of the people working in the bank until 24 October are nothing compared to what we've lost, and will pale into total insignificance beside the PWC fees. They are entitled to redundancy pay anyway, so what on earth is the problem with them working out (some) of their notice.

I'm very grateful for their help and contributions to this forum: they have answered many of our questions. Thank you Guttered et al!