CHAPS Transfer 24 October 2022 at 1:13PM in Budgeting & bank accounts 4 replies 226 views

baldeagle09

I am due a significant amount of money from a house sale. CHAPS transfer was due to take place on Friday. The transfer to Virgin still has not gone through. I specifically arranged with my solicitor so that payment was made the same day. I have phoned Virgin who were less than helpful. My solicitor states that CHAPS payment went through on Friday. He is now checking his bank.
Should I be concerned?

mab3000

It’s a possibility that the solicitor may have completed the CHAPS payment after their banks cut off time on Friday. If that is the case then the payment would be processed and in your account at some point today. 

Right now waiting to hear back from your solicitor after they have contacted their bank is all you can do. The response you got from Virgin to me indicates the funds haven’t reached them yet, and would be up to the sending bank to trace where the payment is if there are any issues. 

mab3000

Something else I have just thought about. Are you waiting for the money to go in to a virgin current account? Or Savings account (not the linked saver with their current account). Don’t know if it’s still the case but whilst working in the banking industry I dealt with someone paying into a virgin money savings account, and I think they had to use different account details to pay into the account via CHAPS. 

baldeagle09

No further along with this. Solicitor supposedly sending 'proof of payment' by email.
Surely this should not be happpening.

Daliah

Sorry to hear about your annoying experience. As and when this is resolved, you should press for compensation. In the meantime:

Have you confirmed with Virgin that your account can receive CHAPS payments?

Have you seen proof from the Solicitor that the correct sort code and account number was used for the CHAPS instruction?