CHAPS payment question.......

thomasdown

When I had to pay my deposit the solicitors requested a CHAPS payment and the bank manager in HSBC, said it will cost you £25? Why do it when faster payments is free and quicker? I then stated its what they want so I best do it? She then asked to speak to the solicitors via telephone and the outcome after the bank manager basically saying they need to get in the 21st century, was they didn't care unless they got the deposit safely and securely?

Hope this helps?

strawberrylane

I am doing a chaps payment rather than a faster payment purely because I feel more comfortable with chaps initiated in branch for the large amount of money involved, plus I don't want the hassle of sending multiple faster payments if I have to split the transfers up. I am happy to pay the £25 chaps fee for this.

That's just my personal view and I realise that others will agree and others won't.

It's certainly not my solicitor that's pushing me to use chaps, he ain't bothered how I get the funds to him provided they clear in time.

So, I am happy to pay to use chaps, I just had the query about which 'bank address' to specify.

Agricolae

strawberrylane wrote: »

Yes, I realise that each RBS/Natwest branch is associated with a particular service centre, which is why the service centre address is displayed when I enter the branch sort code into an online sort code checker.

For example, 163032 is the sort code for the RBS branch at Cheetham Hill in Manchester. The actual postal address for that branch is: 18 Bury Old Road, Cheetham Hill, M8 9JN.

However, the online sort code lookup for 163032 gives the following address:
MANCHESTER CHEETHAM HILL, Bolton Customer Service Centre, PO Box 2027 Parklands, De Havilland Way, Horwich, BL6 4YU.

So, which address should I specify as the 'bank address' when I initiate the chaps transfer?

I'm inclined to specify the actual postal address of the local branch rather than the service centre address when I initiate the chaps payment.

Does it matter which version of the address I use? Or might it cause a problem when the chaps payment is received and being checked by RBS if I have specified the 'wrong' version of the bank's address?

The branch address should be fine - it will get there. Realistically, all that's really required is the sort code and account number - your bank will route the payment using that information.

strawberrylane

Thanks to everyone who replied.

Actually sent 2 chaps payments today from different banks, both sent to my solicitor.

Both chaps transfers were requested in branch at the counter.

One was requested at 9:20am and arrived with my solicitor before 10:00am!

The other was requested at 10:00am and arrived at 2:15pm.

The first bank automatically pre-filled the 'bank address' field, but used the Customer Service Centre address.

The other bank required me to provide the address, so I gave them the branch address details.

Both payments arrived okay, so I guess it doesn't seem to matter which address you use??!!