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Disappearing CHAPS payment
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Have they given any explanation for the delay? Does resolve mean paying the money or making a decision?simonbaughen wrote: »Useful advice for cash buyers. Allow at least ten working days, maybe fifteen to be safe. I have just heard that the bank are going to resolve my daughter's case a week today, nine working days after the payment left her account.0 -
Are you positive this was sent by CHAPS and not BACS? What has the sending bank had to say about it? At the end of the day you pay a fee for the funds to be received the same day. It isn't unknown for banks to make errors but that shouldn't be to your detriment.0
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simonbaughen wrote: »Useful advice for cash buyers. Allow at least ten working days, maybe fifteen to be safe. I have just heard that the bank are going to resolve my daughter's case a week today, nine working days after the payment left her account.
I make regular large lump sum payments (at work no personally unfortunately) and in 15 years only once has this happened and it was a payment to China because i'd missed an E out of the name. I'd be definitely putting in a complaint!0 -
As above, although a theoretical risk it is very rare, and I've never known it to happen either personally or with clients. It would be somewhat over-cautious to send money three weeks earlier than needed.simonbaughen wrote: »Useful advice for cash buyers. Allow at least ten working days, maybe fifteen to be safe.0 -
Money received in solicitor's account on Wed. Definitely was a CHAPS payment. We are due to get an explanation next Wed. In the meantime my daughter will have to pay £1500 damages for late completion for seller's costs, and seller's seller's costs. We intend to claim this back from Santander. First we shall make an official complaint. Then contact the Ombudsman. As a last resort, we would then issue proceedings in the County Court.0
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Come back and let us know how you get on.
Meanwhile, enjoy your ew home.0
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