CHAPS declined HELP!

Beccaa_12

Hi all, can anyone shed some light or Atleast talk to me about similar experiences and how these were resolved? 

So today my remortgage was completed. The funds of £44k were due to be sent to me, however the CHAPS was declined by my bank (nationwide) due to an error in the name. I have contacted our solicitor who advised they don’t have sight of this bounce back yet but will try again when it arrives back. Anyone know how long for a CHAPS to arrive back in the solicitors account?! This is a long shot I appreciate this but right now can’t think of anything else other than when will I get my bloody money! 😅😅 

many thanks 

MWT

As long as it has actually been rejected your solicitor should be able to see it tomorrow, but if it has been suspended by your bank rather than rejected then it could take longer...

Beccaa_12

MWT said:

As long as it has actually been rejected your solicitor should be able to see it tomorrow, but if it has been suspended by your bank rather than rejected then it could take longer...

Thanks for your response. I really hope so, I hope they don’t charge me for another CHAPS transfer fee considering their error inputting my name. The bank did confirm declined due to issues with the spelling in the name. Fingers crossed for a smooth easy transaction shortly so I can relax. 

stevenbecca

Beccaa_12 said:

MWT said:

As long as it has actually been rejected your solicitor should be able to see it tomorrow, but if it has been suspended by your bank rather than rejected then it could take longer...

Thanks for your response. I really hope so, I hope they don’t charge me for another CHAPS transfer fee considering their error inputting my name. The bank did confirm declined due to issues with the spelling in the name. Fingers crossed for a smooth easy transaction shortly so I can relax. 

you wouldn't pay the fee even if they tried to add it, I'd certainly be contesting it.

Beccaa_12

Solictors accounts department are still saying there are no signs of this payment back. Anxiety levels touching the sky today. Or impatience, never the less I’m starting to have kittens. I think it’s the unknown. So I’ve been told to call in the morning to chase again...nationwide confirmed this should have been sent back to them immediately and they need to investigate. Don’t you just love a game of ping pong, when the ball is our money 😢

MWT

Hmm... I think I am right in saying that Nationwide use HSBC for their CHAPS processing so there may be some extra delay in that loop but there is still no reason why the funds shouldn't have been returned by now.

Beccaa_12

MWT said:

Hmm... I think I am right in saying that Nationwide use HSBC for their CHAPS processing so there may be some extra delay in that loop but there is still no reason why the funds shouldn't have been returned by now.

Hmm, this is my thoughts. Nationwide are pretty certain it would have been cleared in the solicitors account today aswell as they turned it away yesterday morning at 11:30am. I suppose I know I’ll get it soon, just when is the Question. All I can do is keep phoning until they are sick of me! 

Beccaa_12

Called again today and they are advising the funds have now cleared so will get this actioned ASAP. My concern is that as of Monday I’ve remortgaged and borrowing more therefore being charged interest based on a mortgage of £255000 when I haven’t received our 44k as of yet. I suppose Im liable to pay as normal and cover the interest for this small window, even though it was their error. I’ll just be glad when I receive my funds...Why is mortgaging and remortgaging so damn stressful! 

MWT

Glad it has reappeared.

Re the lost days, the amount involved doesn't seem worth spending time on since from the sound of things you'd be chasing your solicitors since it was their error and with interest rates as they are right now it doesn't amount to much anyway.