how long does a chaps or bacs take to go through
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knew i forgt to add something in there
ty0 -
CHAPS is not just same day it is RTGS (real time gross settlement) - banking speak for real time - you (theoretically) have the money the same minute it arrives. However it is entirely up to the receiving bank what time of the day they actually update your account balance. They might do it within an hour or two or they might wait until their end of day batch processing (which might be during the night in the early hours of the morning).0
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However it is entirely up to the receiving bank what time of the day they actually update your account balance.
Just as you have no real control over when the sending Bank issue it. So describing it as a 'real time' system is more than a trifle misleading.
But why are people answering posts which were satisfactorily answered 3 months ago !!If you want to test the depth of the water .........don't use both feet !0 -
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I'm sorry I was only asking a question that I couldnt find the answer to on here0
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It's been another year! :eek:0
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Hi i was just wondering how long it takes for a bacs payment to transfer?? it got paid on sunday the 18th but i still havent recieved it?? im also with halifax bank aswell?0
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