Quick CHAPS question for anyone who's awake?

mintymoneysaver

Can CHAPS take more than one day? My employers owed me some money and, after much nagging, swear that it went out of their account by close of business on Tuesday by CHAPS.No sign of it in my account yet.....should I be worried? Thanks.

YorkshireBoy

There's a 'cut-off' time for same day CHAPS transfers. Any request made after this will mean the transfer is made the following working day.

For example, Clydesdale Bank's (first one returned from a google search) cut-off time is 15:30, but I believe others may be a little earlier in the day.

regularsaver1

sounds like they did it by BACS rather than CHAPS

But yeah if they did it at end of day Tuesday they would not have worked in it until yesterday - so will probabaly be there today if they used CHAPS

BASFORDLAD

employers dont normally use chaps, most likely bacs as previous poster said.

mintymoneysaver

No it was chaps because they had made such a mess of getting it to me they were supposed to have rushed it through.Waited all day today for it, phoned them at 4.30.
Surprise, surprise, there had been an administrative error ( why doesn't that surprise me!) and it will definitely be in tomorrow.... I won't hold my breath....

cjbilly

Hi there,

Yes it can take more than 1 day. I've used Natwest for CHAPS payments on a number of occasions - and 3 out of the last 4 times it's taken 2->4 days. Plus you pay 35gbp for the privilage!

Cjbilly

mintymoneysaver

The payment finally arrived today, thanks!

jonesMUFCforever

cjbilly wrote:

Hi there,

Yes it can take more than 1 day. I've used Natwest for CHAPS payments on a number of occasions - and 3 out of the last 4 times it's taken 2->4 days. Plus you pay 35gbp for the privilage!

Cjbilly

I don't know what time you took the instructions in but I would complain loudly if you have paid for a service that you have not got.
Assumimg your CHAPS payments was from a UK clearing bank to another UK clearing bank it should be there the same day or at the very least next morning.

Woby_Tide

CHAPS deadline is 4pm I think, but thats for the request to reach them, with the internal banking processes the banks add extra leeway on so about 15:30 is probably average for them to say as cutoff time

Mikeyorks

cjbilly wrote:

Hi there,

Yes it can take more than 1 day. I've used Natwest for CHAPS payments on a number of occasions - and 3 out of the last 4 times it's taken 2->4 days. Plus you pay 35gbp for the privilage!

Cjbilly

Sorry .... but you're misinterpreting something .. as CHAPS is emphatically 'same day' ... and is guaranteed, provided you instruct before the CHAPS lines close. That's (partially) why you're charged for the service.

There's over £200 Billion a day transmitted via CHAPS - and a lot of that is the Bank's own money. So they're not going to tolerate a single failure - let alone the 75% you are quoting.

http://www.apacs.org.uk/payment_options/chaps.html

banker2006

CHAPS fee for NW is £23 from NW to another bank and £21 for same bank so £35 is a bit excessive, can you clarify that charge with NW and cut odd point for receipt by NW CHAPS dept is 3:15pm