Urgent CHAPS question

omen666

My Agency who I have been with for 3 years pays me by CHAPS every Friday. i have not had a problem with it in 3 years except for just before xmas where it did not clear by 5pm, however when I went out that Fiday night and came back gone midnight the money was there. Not sure what time it appeared on my account but I last checked around 17.50.

Today my agency paid me and the did the CHAPS transfer around 2pm. I need the cash as I am supposed to go away tomorrow and it is not there still at this time. Does anyone have any idea when it will appear? I am hoping it will appear later tonight again like last time
I spoke to my Agency and the checked all details were correct and the money had left their account.
I am with Nationwide if that helps

hippey

Chaps should normally show before cutoff (so 5pm) in a clearing bank account.

I would contact Nationwide to see if it is pending on entries for some reason, but that is the way CHAPS works, it's a very clunky old fashioned payment system that is stupidly slow, and if it doesn't get cleared by cut off you won't get it until Monday. However if Nationwide are have technical issues that could prevent it from being in your account, and still with their clearing.

Extant

It can appear any time up to when Nationwide stops posting entries on today's date - I would suspect, at nearly 8pm, this time has been and gone by now. But it could still show today, I suppose.

There's not much you're going to be able to do about it Friday night/Saturday morning though, I wouldn't have thought.

omen666

Thanks found it strange though that it appeared between 6-12 last time, here is hoping. Would have thought going through at 2pm would have still been fine though? Thought 3 was the cut off time for posting them?

Extant

omen666 wrote: »

Thanks found it strange though that it appeared between 6-12 last time, here is hoping. Would have thought going through at 2pm would have still been fine though? Thought 3 was the cut off time for posting them?

Each bank will usually have a set cut-off time for receiving the instructions to allow them to be processed through by the end of the day. It's usually around 3pm, but it can vary.

It doesn't reflect on when the money will be received, however, as there's a huge number of variables that could be in play. I'd check with your employer to make sure they used the right details first, and then ask Nationwide payments inward if they had anything.

omen666

BarclaysManager wrote: »

Each bank will usually have a set cut-off time for receiving the instructions to allow them to be processed through by the end of the day. It's usually around 3pm, but it can vary.

It doesn't reflect on when the money will be received, however, as there's a huge number of variables that could be in play. I'd check with your employer to make sure they used the right details first, and then ask Nationwide payments inward if they had anything.

I can confirm my correct details for sending were used as I called the agency panicing at 16.30 and then called Nationwide but the CHAPS inward were not answering their phone.