No ££££ after selling my flat

WestonDave

Kate - you can request and it should be possible for a competent up to date firm to be able to get that into your account by the end of business tomorrow provided you contact them first thing so they have time to set it up. If you don't ask until lunchtime you would be making it harder but even then not impossible.

G_M

kate86spar wrote: »

Could i request a CHAPS payment for tomorrow and would it be in my account for either 6th or 7th?

I see no reason why you cannot call them tomorrow 1st thing and instruct them to CHAPS you the money.

Make sure you have your own bank CHAPS details. These are usually NOT the same as BACS (sort code/account number) so call your bank first.

WestonDave

GM - incorrect - we set up CHAPS payments using the sort code and account number. If its going overseas then you need the IBAN number but for domestic UK CHAPS sort code and account number are fine.

(In any event the IBAN number is mostly sort code and account number with a letter code at the start to identify the bank and country!)

kate86spar

furley wrote: »

My sale and purchase completed nearly 2 weeks ago. No money appeared in my account (£45,000) after 5 working days. When I called the solicitor, they said they'd posted out all the papers with a cheque but this posting never arrived. It took 2 days and 2 more phone calls to get the funds into my account. I suspect they were banking interest but as I'd saved so much using the solicitors (online solicitor) I wasn't going to begrudge them a few quid. Your money will come, just keep nagging.

Not fussed about intrest more wanting my money, as none of this as ever happend with myself or anyone i know, money has always been in the same day of keys handing over.

kate86spar

WestonDave wrote: »

GM - incorrect - we set up CHAPS payments using the sort code and account number. If its going overseas then you need the IBAN number but for domestic UK CHAPS sort code and account number are fine.

(In any event the IBAN number is mostly sort code and account number with a letter code at the start to identify the bank and country!)

Sorry being a new member to the forum ...apprently i can only send 1 message per 60 min. cheers

kate86spar

So they say its a solictor cheque, she gave some goble about it taking 5 working day to clear in there account before they can give me money is that rubbish? or should not make a diffrence for them to do a CHAPS payment? last question sorry guys you have been great help.

googler

So they're saying the purchasing solicitor has sent them a cheque for the purchase monies, and they're having to pay it in before they pay you...?

WestonDave

Kate - I think this is where Scotland's little quirks come into play. Most of the rest of mainland Britain dispensed with cheque completion years ago - Scotland still seems to persist with it. That said in the current interest climate, there is something to be said for using a free transmission system rather than paying £20+ for a transfer as you'd have to have a very large amount to save that via interest over a cheque clearing cycle of a few days. Maybe once Faster Payments limits get raised that will be used more.

If they have had a cheque in, then it will be cleared for interest after 4 working days hence waiting to issue the cheque. Technically its not totally cleared for "fate" until 6 days but often firms allow cheques to chase each other on the basis that if they put you one in the post it won't hit their account for a few days which gives them a chance to put a stop on the one they've sent you if they need to (unlikely).

If they've had a cheque in then its not unreasonable for them to hold on until its cleared - however BACS is free and there is no real reason why they need to charge you £20 to send your money via BACS - this would get you money in sooner and save you walking to the bank to pay in a cheque.

kate86spar

googler wrote: »

So they're saying the purchasing solicitor has sent them a cheque for the purchase monies, and they're having to pay it in before they pay you...?

yep, but seem that it is norm for scotland