Missing CHAPS Payment

baggerstorbay · 15 August 2017 at 9:59AM

I sent a CHAPS payment on Thursday from my account with the Yorkshire Building Society as I needed the money in my own business account with Santander that day to make a foreign currency payment.

I paid £23.50 for the fast service and was promised the money would be in the Santander account later that day.

It's now Tuesday morning and still no money in my business account. Numerous phone callsicon to both institutions just sees them pass the blame onto the other side.

Is there anything I can do quickly to get this sorted? All i'm being quoted is that the 'chase' they can put on the payment can take up to 30 days. I don't have 30 days and need my money now, and it seriously puts a shambles on it being a same day payment service.

All of the bank account details have been double and triple checked and they're all correct!

xylophone · 15 August 2017 at 10:48AM

http://www.chapsco.co.uk/users/how-chaps-works

http://www.ybs.co.uk/help/payment-guidance/payments-from-my-account.html

CHAPS

What is it?
‘Same day value’ electronic payments which, when received into accounts, are treated as cleared funds. CHAPS transactions can only be actioned via the branch or agency with name ID required.

What are the timescales?
The payment usually arrives in the recipients account the same day, provided the request is made before 3pm, Monday to Friday (excluding bank holidays). Payments made after this will received the next working day.

Any charges?
There is a charge of £23.50 for a CHAPS transaction.

How much can I pay from my account by CHAPS?
Agency: No limit
Branch: No limit
Post: No limit
Telephone: n/a
Online: n/a
For all CHAPS payments we need to see Proof of ID which has a photo. See Verifying your identity for more details.

Assuming you filled all YBS requirements then it seems to me that you have grounds for a complaint.

In the meantime, if you have urgent payments to make from the business account, under the circumstances, will Santander grant a temporary overdraft?

baggerstorbay · 15 August 2017 at 10:54AM

Santander have been unwilling to help as it's not their fault in their eyes.

YBS are saying the payment has left their NatWest account and is with Santander. Santander are saying it's nothing to do with them as they're just the receiving bank so can't help.

And yes, I have filled all of the YBS requirements, popping in branch just after 9am last Thursday and confirming the sort code and account number, even re-confirming the details since the payment failed to materialise in the Santander account.

Ironically I could have sent it for free with the YBS faster payment and the money would have been in my account by the end of the next working day for free and never had any problems with that service but needed it there the same day.

mt99 · 15 August 2017 at 12:04PM

I had a discussion with my bank about chaps once a couple of years ago and they told me that the receiving bank has very little to do with it as it automatically goes straight to the person's account

If you haven't received it that's almost certainly YBS who are at fault

mt99 · 15 August 2017 at 12:06PM

When you get it sorted could you pop back and let us know whose fault it was as it would be very interesting to know

baggerstorbay · 15 August 2017 at 12:17PM

I certainly will do. They'll be a complaint going to both banks once it's all sorted as neither has been anywhere near as good as they should have been.

baggerstorbay · 15 August 2017 at 2:18PM

YBS still claiming the fault was with Santander but thankfully, after getting the branch manager at Santander to contact my local YBS branch, they have worked between them, getting the necessary details for Santander to perform a search on the transfer and hey presto, about 30 minutes later they found it and it's now in my account.

Thanks all for your help and obviously won't be using CHAPS again, will stick to faster payments, much more reliable, quicker and free too!

xylophone · 15 August 2017 at 4:22PM

Come on - where was it ? Whose fault was it? Where is the lovely Compo coming from?:D

alanq · 15 August 2017 at 4:41PM

A thread re a CHAPS payment from Yorkshire BANK to Santander that went missing.
http://forums.moneysavingexpert.com/showthread.php?t=5464656

One where a CHAPS payment FROM Santander went missing.
http://forums.moneysavingexpert.com/showthread.php?t=5610529

In neither case did the OP come back to tell us how the matter was resolved. Unless they were subject to some sort of non-disclosure agreement I think this is very selfish. They may be sorted but they are not helping others who in the future have the same issue. It happens too often that people seek advice, other members spend time and effort attempting to help, then the OP says no more - in some cases even deleting the original question.

baggerstorbay · 16 August 2017 at 1:05PM

Don't worry I will be coming back to advise on the conclusion as it will help others in the same situation.

However, at the moment I don't know when this will be, until I have complained to the banks and reached a successful conclusion with them.

jonesMUFCforever · 16 August 2017 at 6:31PM

You haven't said the amount transferred, but I'm guessing it was substantial and the delay will be put down to money laundering checks - now as to which side caused the delay - your guess is as good as mine.

Missing CHAPS Payment

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