CHAPS payment, how long in terms typically?

ian-d

I'm due a payment via CHAPS tomorrow from Barclays to HSBC. I know it is a same-day service providing placed by around 2pm, but any ideas how long it takes to clear at the other end, is it instant these days or will it take a few hours?

Anyone done it recently, all references to this online seem to be from years ago so might not be accurate today.

It is time critical which is why I ask.

PS - BACS or faster payment is not an option due to the amount.

Thanks.

opinions4u

Couple of hours.

ian-d

Here's hoping it is fairly quick as I don't know the buyer and will have to entertain him all day otherwise!!!

WestonDave

Can be almost instant but can also drag for a couple of hours - Friday isn't the best day as its when the system is flooded with house completion payments which can slow it down.

jonesMUFCforever

I agree with WestonDave - Friday is the busiest day of the week for Chaps - so the earlier it gets into the system the earlier it will hit your account.

ian-d

Just to conclude this thread, I received the CHAPS payment within 15 minutes of it being transferred, on a Friday too so very happy it was quick.