CHAPS payment missed by bank

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Very briefly, arranged for a CHAPS payment to be made to cover the deposit and solicitors fees on a property purchase. Unfortunately the bank did not authorise the payment. Reason given, human error. Not sure where that leaves us in terms of the purchase. Any ideas where we stand in terms of compensation.

jossberry

Normally there's a certain allowance for these mistakes, i think around 10 days. Providing it's done tomorrow you should be fine, just make sure you communicate with your solicitor. We are about to complete and our solicitor insists on having all monies in the day before completion to avoid situations like this. Contact the bank first thing and ride them until it's done!