Large amount bank transfer

Simba-ali34

Hello

I have to transfer £11000 to a solicitor for a deposit on a house. My banks limit is £10,000 per transaction so I can either do it in 2 transactions (will cause delay) or go into branch and do it in one. My question is if I do it in branch who's liability is it if it goes wrong? I trust myself but a stranger doing the transaction in the bank kinda worries me for that amount of money.

YorkshireBoy

Transfer some of the cash to another one of your accounts and make both payments on the same day?

Is the branch payment a CHAPS and therefore chargeable?

agrinnall

What bank is it? Have you checked to see whether you are able to do more than one Faster Payment in a day? I had to transfer a lot of money from First Direct who have a £10K single transaction limit but I was able to do 6 transactions one after the other to transfer the whole amount in one day.

Simba-ali34

I am not sure if it's chaps, I've only just realised that I cannot do it in one transaction. It is Coventry building society.

mt99

You should also check with Coventry if they are sending the money faster payments in which case it will arrive there straight away or if they will send it by BACS in which case it takes 3 working days. I have a horrible suspicion that Coventry used bacs - at least they used to

Simba-ali34

They do next working day transfers. So can you go into a branch and do a transfer without it being chaps? I just want to send it all in one go but am afraid of them typing in the wrong details leaving me out of pocket

YorkshireBoy

If it's a CHAPS payment you'll be presented with a chit to sign. On the chit it will show the sort code and account number (and any reference applicable/necessary). Of course you then have two responsibilities:

1. To give them the correct details in the first place, and
2. To check and sign to say they've recorded them correctly on the chit they'll use to process the payment.

So you can't actually pass on the responsibility to them. Of course you can minimise any issues by asking your solicitor to give you their account details in writing...then pass this email/letter to Coventry. You will still have to do 2 above though.