Missing Nationwide CHAPS

beeg0d

I think davidmcn has hit the nail on the head there. The fact you say Nationwide are unable to explain anything makes me think the transfer is being investigated*. It is a criminal offence for a bank/solicitor/accountant etc to tip off someone who is being investigated.

*Dosent mean you have done anything wrong, occationally random transactions will get selected for investigation

franklee

Biggles_dh wrote: »

We’re only a couple of days short of a week now - so being a week early wouldn’t have resolved this case. more worryingly there seems no accountability for my money and no regulation to protect it unless the bank goes under.

An extra week likely would have resolved it.

If completion doesn't happen on time then the other solicitor will likely serve a 10 days notice to complete. So you do have that breathing space and I hope your money gets traced in time for that. If not the other party may terminate the contract. So all is not lost yet.

I would be going into nearest branch and insisting someone senior puts a rocket up whoever is dealing with tracing the money.

I hope it gets sorted must be very stressful.

Doozergirl

franklee wrote: »

An extra week likely would have resolved it.

If completion doesn't happen on time then the other solicitor will likely serve a 10 days notice to complete. So you do have that breathing space and I hope your money gets traced in time for that. If not the other party may terminate the contract. So all is not lost yet.

I would be going into nearest branch and insisting someone senior puts a rocket up whoever is dealing with tracing the money.

I hope it gets sorted must be very stressful.

I agree that the extra week would have solved it. It may well be 'two days under a week' but that is still under a week. Even if it goes over, it saves interest and panic on the other side of the transaction.

They're unlikely to even issue the notice to complete very quickly if everyone knows what the hold up is. It's just work for work's sake.

Yes, stressful indeed, but the money will turn up and completion will take place.

Biggles_dh

Thanks, but if it were only due to an investigation surely they'd simply as for proof which I could provide in minutes as most of the funds came from my house sale a couple of years ago along with savings earnt under PAYE. Why steal my money for what appears weeks on then?

It's ludicrous my money can be taken from me without notice or explanation, causing significant implications including potentially making me homeless with a young child as I've served notice on rented accommodation given we'd exchanged contracts. ...

Needless to say another sleepless night, sellers won't believe my money has simply vanished but will return, why would they not exercise their contractual right and take the deposit as forfeit (another two weeks apparently to trace my money so 10 working days will be gone). It's wrong that we have to deposit the equivalent of three years rent on the property whilst they have no penalty for failure other than any potential claim. Seems screwed by the lawyers and screwed by the bank. Back to cashiers cheques for me, will never process a CHAPS again - it's scandalous they can steal my money like this.

bigisi

Biggles_dh wrote: »

Why steal my money for what appears weeks on then?

They haven't stolen anything.

Biggles_dh wrote: »

It's ludicrous my money can be taken from me without notice or explanation, causing significant implications including potentially making me homeless with a young child as I've served notice on rented accommodation given we'd exchanged contracts.

You won't be homeless just stay in the rented place if you need to. It would take a lot longer to evict you than this is going to take to resolve.

Biggles_dh wrote: »

it's scandalous they can steal my money like this.

Again - nobody has stolen anything, you may need to look up the definition of "steal" in the dictionary.

ruperts

The exact same thing happened to me with Nationwide last year. Apparently nationwide enter CHAPS details manually, and data entry mistakes happen. It does seem to happen a lot more than it should though.

They realised their mistake quickly and honoured the CHAPS payment the same day (three days after my initial request).

For that and them having the cheek to charge me for both the failed and successful but late CHAPS, I put in a complaint. The procedure for complaining online is ridiculous, you have a box to enter details but it's character limited, meaning you've no space to go into detail about the trouble or stress it has caused. They then ring you back and rush you into agreeing compensation, showing no real interest in your complaint at all. It's basically a game of 'how much do we have to pay you to go away'. I accepted £150 and both chaps fees refunded but wish I'd held out for more, at the time I was just taken aback by how poor the service was.

I've since left Nationwide and won't ever go back. I'd urge anyone who has an important payment to make through them to do so with caution.

In the meantime I'd advise ringing them immediately, escalating to management, conveying how important the situation is and demand they honour the payment today.

davidmcn

Biggles_dh wrote: »

Seems screwed by the lawyers and screwed by the bank.

Hold on - what have the lawyers done wrong here? Payments going wrong don't benefit them in any way - it just adds to hassle and (unprofitable) time for them too.

Ogriv

ruperts wrote: »

The exact same thing happened to me with Nationwide last year. Apparently nationwide enter CHAPS details manually, and data entry mistakes happen. It does seem to happen a lot more than it should though.

They realised their mistake quickly and honoured the CHAPS payment the same day (three days after my initial request).

For that and them having the cheek to charge me for both the failed and successful but late CHAPS, I put in a complaint. The procedure for complaining online is ridiculous, you have a box to enter details but it's character limited, meaning you've no space to go into detail about the trouble or stress it has caused. They then ring you back and rush you into agreeing compensation, showing no real interest in your complaint at all. It's basically a game of 'how much do we have to pay you to go away'. I accepted £150 and both chaps fees refunded but wish I'd held out for more, at the time I was just taken aback by how poor the service was.

I've since left Nationwide and won't ever go back. I'd urge anyone who has an important payment to make through them to do so with caution.

In the meantime I'd advise ringing them immediately, escalating to management, conveying how important the situation is and demand they honour the payment today.

Agreed. I have experienced the same with Nationwide. I will be taking my business elsewhere.

Biggles_dh

The lawyers are forcing an unfair contract to be entered into - I use the word force as when I challenged that it was unfair I was told they have to abide by law society. Why is it that have to commit to losing a considerable amount of money if I don't complete but the seller can terminate and lose nothing bar interest due (words of my lawyer). So I either accept the law society rules or I don't buy a house .. Simply a one sided contract and I thought the law was about equity and balance

Biggles_dh

They took money out of my account without fulfilling the purpose under which they had authority to do so. They are unable to tell me where the money was held, didn't return it and now claim to have sent it somewhere but are unable to give me any proof to show they've sent it anywhere ket alone to whom.

I've had money taken from me, that's theft pure and simple. An error I accept is an error and I also accept fraud, but on Friday they've now confirmed they took my money and simply kept it rather than returning it to me. That itself is theft in my book let alone the stories now made to which they can't provide any backup or evidence ...