CHAPS Payment

cleared_my_finances

Hiya

had a quick question on CHAPS payments, I know that if you do them before 2pm they arrive the same day but was just wondering when it clears if its after

For example say I had an emergency come up or something one evening and my Other half needed money straight away, if I rung up the bank and organised a payment (can you even do them over the phone) would it be there first thing the next day or would it clear during the next day?

im just curious

lesley1960

Some banks let you do them over the phone , but they have a cut off time of 2 - 2.30 pm , after this the payment will be processed the next day

whu

you can do it over the phone for some banks - the cut off payment for the banks sending CHAPS payments is usually 3:30pm so try and get your call in by 3pm - if your payment goes out after that it will get into the other account by COB the next day at the latest
PS dont forget there is a fee of usually £30 for a CHAPS payment