How long to transfer 130K for property purchase?

The_Walker

Hi
My wife and I are at the final stages of purchasing a property as cash buyers. It's our first property in the UK, using an HSBC bank account. I've been informed a usual delay in the process is getting your bank to move the money to your solicitors account?

Does anyone know roughly how long it takes to get a large sum of money moved and what the bank requires to make it happen?

It's a joint account, so I'm thinking they'll require my wife and I to visit in person with forms of ID.

thanks

Archi_Bald

You can pay for a same day CHAPS transfer. Cut-off is 2.30pm.

HSBC are reported to be sometimes quite difficult so make sure you have got proof of purchase, and potentially also proof of the source of funds.

grumbler

The_Walker wrote: »

It's a joint account, so I'm thinking they'll require my wife and I to visit in person with forms of ID.

http://www.hsbc.co.uk/content_static/en/ukpersonal/pdfs/en/personalbankingterms_conditions.pdf

Part D
22. Joint accounts
22.1. Unless this conflicts with another authority
given in writing on the joint account, and until any
one of you cancels this authority, you authorise
us to:
• pay all cheques and accept other instructions for
payment (including those given to us using TBS
or PIB), or to stop such payments, signed or given
by any one of you, whether the account is in debit
or credit