Bank Transfer Charges (over £20,000)

eskbanker

SPWaller said:

dunstonh said:

Why do you need to use CHAPS and not BACs/faster payment which are both free of charge?  

The guy in the bank didn't give me any other option other than CHAPs with it being more the £20,000. No mention of FPS.

If you said you wanted to send more than £20K then I can understand why they'd direct you towards CHAPS, but you would have had the option of making multiple FP transactions over different days, even if they didn't highlight that to you.

SPWaller said:

Also I made the transfer at lunch time on Wednesday no money has been transferred yet!  They need to refund the £23 in this case surely.

It's unlikely that there's any actual legal or contractual obligation to refund but it's not an unreasonable expectation so worth asking.  First things first though, it would make sense to pursue what's actually happened to the money....