Missing CHAPS payment. Not able to complete.

smartie12

We sent a CHAPS payment in branch early Friday morning in anticipation of us completing on the house we are buying today (Monday)

Solicitor phoned us Friday afternoon to say they had not received it so we phoned the bank and they said it would be there by 7pm - obviously too late for the solicitors to check.

Solicitor phoned us first thing this morning. No sign of money still. We've obviously spoken to our bank many times today who blamed solicitors bank. Solicitor say their bank can see no sign of it anywhere. Last phone call from our bank at 5.15 said they've no update.

It's all a nightmare and we've obviously not completed today so have to deal with what our vendors solicitor will throw at us also. Luckily we're not in a chain.

Help! What do we do? Where is our money?! What options do we have?

G_M

I assume you have checked and double checked that your bank had the correct CHAPS details for the solicitor's bank?

It is for your bank to trace where the money has gone. Chase them.

We have had a few cases on the forum where CHAPS transfers have been delayed as the receiving bank has placed it in suspense while they do security checks (money laundering etc). Apparantly when this happens, they say nothing till the checks are completed - I assume so that they can call in the fraud squad or whoever without alerting the customer.

smartie12

Everyone has triple checked the details and all good.

Our bank has set up a trace apparently.

It did cross our minds that it could be security checks. If it is how long does it normally take to resolve? Bearing in mind it's already been pretty much 2 whole working days (with a weekend inbetween)

thelem

What does your solicitor advise? Have you already exchanged, or were you planning to exchange and complete on the same day?


Nationwide has quite a good CHAPS page at https://www.nationwide.co.uk/support/payments-and-transfers/specialist-payments/chaps-payments#xtab:chaps-faq6

If you made your payment before 3pm on a working day:

• It should arrive the same day.

Emphasis mine.

Could anything delay my CHAPS payment?

Nationwide must process all CHAPS and SWIFT payment, and SEPA Credit Transfer instructions in a manner which ensures they comply with all legal and regulatory requirements for inbound and outbound payments. In order to meet these responsibilities, Nationwide may need to contact internal or external parties for additional information and clarification with regard to CHAPS and SWIFT payment, and SEPA Credit Transfer instructions and therefore payments are not guaranteed to be released or received on the same day.

I'd be asking my bank to provide a written record of the transaction, including the destination sort code and account number, and I'd pass that on to my solicitor. I don't know it that would help, but it would at least prove beyond all doubt to your solicitor and their bank that it's not your error.

Hoploz

Yes do as above ... You need to get clarification of which party is at fault so you know who to chase for any additional costs you're going to be liable for.

smartie12

Yes we have already exchanged.

The bank showed us the transaction on their computer but yes it's a good idea for them to send it to solicitor (who has been very understanding)

The chances are yes we are being investigated but it's very frustrating not knowing for sure AND how long it's going to take.

It's the having to muck people around that concerns me the most. For example removal people... and the vendors!!

G_M

Knew this rang a bell. See


https://forums.moneysavingexpert.com/discussion/5333260/chaps-payment-not-received&highlight=delayed+chaps

SG27

G_M wrote: »

Knew this rang a bell. See


https://forums.moneysavingexpert.com/discussion/5333260/chaps-payment-not-received&highlight=delayed+chaps

So looks like the money should turn up soon.

But.. there are obviously consequences of missing completion which are potentially very costly! What if you can re book the removals for another week? You could be in breach of contract. Would the bank be liable for these costs?

The lesson for otherw is make sure your chaps payments go through well in advance!

smartie12

Yes lesson learnt... never listen to banks!! A couple of weeks ago I asked twice when would be the best time to send the money. "Mrs Smartie it'll be there with-in 3 hours" It's never happened to them before at our branch so a learning curve for them too!

Awaiting the vendor's response this morning. We will be keeping a note of all additional costs and seeking compensation. Having read other stories it looks like we should get some.

Our poor 7 year old daughter is desperate to look at her new home! Fingers , toes and all bodily parts crossed the money turns up today.

Is sitting at our bank demanding to speak to the manager a bit OTT?? :rotfl:

PasturesNew

smartie12 wrote: »

Is sitting at our bank demanding to speak to the manager a bit OTT?? :rotfl:

I'd say not. Although I doubt it'd actually achieve anything. The Managers these days don't have authority, they just have a desk and a screen.... but, you have to sit somewhere and panic, might as well be somewhere where you're offered tea/biscuits ... and get to see a face.

You must be beside yourself with worry that "it's all been stolen" and really in a mess. I feared all manner of problems when I bought ... and sent the money to my solicitor 2-3 days ahead of time just in case I had problems to sort out because I feared the worst so much.

Good luck to you!

AdrianC

smartie12 wrote: »

Is sitting at our bank demanding to speak to the manager a bit OTT?? :rotfl:

Is there anybody vaguely approaching a "manager" in your branch? Unlikely.