CHAPS Payment Crediting Delay

bristolleedsfan

Yorkshire B.S response without even an apology is as if treated crediting next day as normal, CHAPS was sent by Leek B.S in Leek UK, mystified why shows as foreign credit


How much Compensation should I ask for ???????




04/12/2018 12:30:13


Thank you for your message. I have spoken with our Administration department and they have confirmed that we received your payment of .... on 03/12/2018. They have confirmed that you can expect to see this amount cleared in your account by close of business today. Kind Regards




TODAY, 04 Dec 2018
Foreign Transfer
No further details available

eskbanker

No harm in logging a complaint with Yorkshire BS - if you evidence the actual financial consequences of the delay then I'd expect them to offer some sort of reimbursement based on those if they accept liability (which seems difficult to avoid given the message you received).

Assuming you paid Leek a fee then there's an argument that Yorkshire should reimburse that too (even though it wasn't them you paid the CHAPS fee to), if you could equally have used a free 'next business day' faster payment to achieve the same end result....

bristolleedsfan

eskbanker wrote: »

Assuming you paid Leek a fee then there's an argument that Yorkshire should reimburse that too (even though it wasn't them you paid the CHAPS fee to), if you could equally have used a free 'next business day' faster payment to achieve the same end result....

Value just over 50000, CHAPS fee was 20.00


Can anyone think of a reason why CHAPS credit would get recorded as a foreign transfer, I will ask YBS why and ask for it to be amended being as my solicitor may want to see funds in place for completion and will wonder why credit shows as a foreign transfer, of course I can furnish Solicitor with Leek B.S Passbook

agrinnall

Should have done a forum search :rotfl::beer:

agrinnall

bristolleedsfan wrote: »

Can anyone think of a reason why CHAPS credit would get recorded as a foreign transfer...

As it's very unlikely that Leek BS will be able to do CHAPS payments themselves, they will need to use a third party for it. So it'll be at least in part down to how that third party has processed the transaction, and then what YBS have done with it when it arrived. Hopefully YBS can tell you something about why it happened, but they may not be able to correct the record, so you might have to ask them for a letter confirming that it was in fact CHAPS.

bristolleedsfan

Have put this together to go as a complaint to YBS


Any compensation figure ideas please ?????


CHAPS is supposed to be the fast (and expensive) way of transferring money from one bank or B.S to another


I paid for a specific service ie same day payment of funds which did not happen


Why not even an apology?


The reason I chose to pay CHAPS fee as opposed to having a cheque sent to me which I would have paid in 4th December to Nationwide BS/or a Bank that offers faster cheque clearing system/cheque imaging was due to Chaps being a "guaranteed same day payment system"..I paid CHAPS Fee so that the funds would be in my YBS account by the end of the business day on 3rd December not by end of Business day on 4th December


Yorkshire B.S apparent failure to achieve same day CHAPS payment service to my account caused me time making phone calls and writing secure messages that i shouldnt have had to make, many many log in attempts to YBS Online that I shouldnt have had to spend time making.


On the face of it in absence of any other explanation hassle, inconvenience, distress caused by incompetence seemingly only explanation after all I quoted correct payee details to Leek B.S and LEEK B.S informed me that it quoted correct payee details when it administered CHAPS instruction

The CHAPS payment should have been in the correct account on the same day as it was sent!


And where did the fault lie? What actually went wrong?

Why is a CHAPS payment from Leek B.S -In UK showing as a foreign credit, My solicitor may want to see house completion funds in place, huge factor in me paying CHAPS fee as opposed to a cheque deposit was so can be see from online account where the funds came from, can the credit entry be changed to reflect where CHAPS credit came from please

jonesMUFCforever

Just out of curiosity - at what time was this initiated?
Maybe they ran out of time especially if they need to use a 3rd party institution to process the payment.

Just asking?

bristolleedsfan

jonesMUFCforever wrote: »

Just out of curiosity - at what time was this initiated?
Maybe they ran out of time especially if they need to use a 3rd party institution to process the payment.

Just asking?

Leek B.S received my passbook with withdrawal instructions middle of last week to process closure of what was Homebuyers regular saver ( converted to Instant Access account on 1 December) by CHAPS on 3rd December, no reason at all why this diarised advance instruction wasnt processed early in the day.

Possible what ever caused the funds to show as "foreign transfer" caused YBS to put hold on it being as it seemingly only got applied to my account after YBS dealt with my secure messages on the subject.

jonesMUFCforever

That doesn't really answer my question as you (or I) have no idea how many other customers they had to deal with before they got to your instruction.
You asked how much compensation to ask for - well I would start with getting a refund of the CHAPS fee then you need to show how much you lost as a result of the delay - if no quantitative loss I would expect about £25 to £50 on top.

badger09

I made a CHAPS payment on 17/11/18 in branch from a Santander account to an M&S account. The printout given to me by cashier is headed 'International Transfer Issued - Receipt'.

The printed receipt posted to me has no such heading:cool: though currency is shown as GBP and exchange rate 1.000000

eskbanker

badger09 wrote: »

I made a CHAPS payment on 17/11/18 in branch from a Santander account to an M&S account. The printout given to me by cashier is headed 'International Transfer Issued - Receipt'.

The printed receipt posted to me has no such heading:cool: though currency is shown as GBP and exchange rate 1.000000

That's a better exchange rate than you'd get with HSBC