Problems with Chaps payment

wheelbarrow1

I need some advice. I am trying to move a large amount of money from an Ulster Bank savings account to a number of other banks. I had to fill in numerous paper forms, travel into my nearest NatWest Bank ( 19 miles away) who oversaw the process and signed off. This happened at 10.00am on Wednesday 29th January. It is now the 3rd of February and nothing appears to have happened. I rang Ulster Bank on Thursday at 16.30pm and was held on the line for over 18 mins! Only to be told that the relevant department was now closed for the day. I have had no other communications from them. Sometimes Banks ring up to ask security questions if a large amout of money is involved. But nothing.
I thought is took a maximum of 2 days, if not guaranteed same day transfer if instructions were submitted before 14.00hrs.

Thrugelmir

Did you ask Natwest what the process was? While they are in the same banking group. Ulster and NatWest are totally seperate entities.
My assumption would be that the paperwork would be mailed across to your branch. As it is they that would need to effect the transfers.

Flobberchops

If they were indeed CHAPS payments, they should have been processed that same working day, unless they as you say they were stopped by Ulster for checks, in which case they would usually contact you. The only way to find out is to get back in touch with Ulster and ask for an explanation.

nyermen

Chaps is same day, as long as you meet the cut off time specified by the bank. The actual transfer is pretty much instant, but obviously the bank has to go through its process (AML etc).

If it's not been received by today, then something has stopped it (or the beneficiary details were wrong!). You need to talk to the bank - call them in the morning.

One thing - you say " number of other banks" - do you mean multiple chaps payments? (one for each transfer...) That may have flagged something up. Also, I assume the "source of funds" is all standard.

born_again

Can Ulster not take the instructions over the phone to make the payments?