Final Payment - Natwest

PierremontQuaker03

Hi, on the 2nd of Jan I went into Santander and did a transfer for 70k to Natwest which was the final amount due. The payment went through fine. Come a few days later the 70k hasn't been allocated to my mortgage account and I'm getting nervous. I have rang Natwest twice, once the person on the end of the phone said he could not see any payments with my reference had came thrum and the other time, the lady was like chill it will be fine, there have been more payments than normal due to a lot of mortgage deals ending. I work in accounts and I understand how allocating payments work etc etc, but I am getting a tad nervous. Monday will be 5 working days since the payment was made, and they said it can take up to 5 working days. I was really hoping the weekend was going to be one of celebration and looking forward, but its been constant worry in case it all goes belly up somehow.

tacpot12

As you have found, there isn't much that can be done while the 'normal' processing time of five days hasn't elapsed. So wait until Tuesday to check, and if it's not there on Tuesday ask that they look into it "As it is outside of the normal processing time". NatWest will have your money, it's just that they don't know they have it yet!  

njkmr

It will be 5 working days so exclude the weekend and by Tuesday (5 working days )it will be fine im sure.

Veteransaver

Surprised it takes 5 working days, Bacs is only 3.
You'd have been better writing a cheque and taking it into NatWest!
Unless it just takes up to 5 working days to update /apply it to your mortgage account and will back date the credit? But if you've lost 5 days of interest, on £70k that's not an insignificant amount.

PierremontQuaker03

Veteransaver said:

Surprised it takes 5 working days, Bacs is only 3.
You'd have been better writing a cheque and taking it into NatWest!
Unless it just takes up to 5 working days to update /apply it to your mortgage account and will back date the credit? But if you've lost 5 days of interest, on £70k that's not an insignificant amount.

They said they would back date the payment on the date it was received in their bank, so I wont be penalised for that, however, I wish I had done it another way now as knowing how antiquated their system is means it takes a lot longer than what I thought it would be!

PierremontQuaker03

all got sorted in the end thank you, my account got closed, I am mortgage free

northwalesd

Great news 😀