how long does a chaps or bacs take to go through

Deals_2

to an account. we are awaiting money into a nationwide flexaccount this way. thanks

shoe-queen_2

Hi, Chaps can be same day, BACS needs 1 full clearing day E.G BACS payment sent on a Wednesday will be cleared in your account on the Friday am.

whu

CHAPS is the same day but costs £20-30 - BACS is 2-3 working days(free) after the request ie if request transfer on a monday it will arrive on wednesday or thursday (in my experience it depends on which bank is sending it)

lesley1960

Although with this new fast bank system some bacs payments get there quicker , I paid someone on Wednesday they received it two hours later !,

deltatwo

Hi,

If a CHAPS payment is made late on a Friday, will it show on the receiver's account on the Saturday?

Thanks

Scousebird_2

deltatwo wrote: »

Hi,

If a CHAPS payment is made late on a Friday, will it show on the receiver's account on the Saturday?

Thanks

Don't think so.

It's a Clearing House Automated Payment System

They only operate Monday to Friday....very much like a cheque.

Lollypop2222

hi, will bacs payments clear on a saturday with nationwide?

Thanks

agsnu

Lollypop2222 wrote: »

hi, will bacs payments clear on a saturday with nationwide?

No, they will not.

Extant

deltatwo wrote: »

Hi,

If a CHAPS payment is made late on a Friday, will it show on the receiver's account on the Saturday?

Thanks

Unlikely - most banks operate a cut off after which payments will be made on the next working day.

shoe_girl_2

bacs is 3-4 days and chaps is 1 day or next working day (depending if its a bank/insurance company ect.) chaps should in by end of buisness for your bank

Extant

shoe_girl wrote: »

bacs is 3-4 days and chaps is 1 day or next working day (depending if its a bank/insurance company ect.) chaps should in by end of buisness for your bank

CHAPS is 0 day - it's a same day payment system. There should be no delay if the instruction is made before any relevant cut offs etc. This is the same regardless of the sender.