Missing CHAPS payment?

Leeslady

Completed on a property sale yesterday. I got a call from the solicitors at 3.20pm yesterday to say they'd sent the proceeds and it would be with me by 'end of the day'.
Nothing arrived, and nothings come in overnight. 
Have had a look and seems like CHAPS is 6am to 6pm, so even if it missed the cut off for some reason, surely it should have landed first thing today?
My bank is Nationwide. 
Any ideas? Am slightly panicking! 

la531983

Ring your solicitor when they open? Nobody else can suggest anything else. If they have sent it to the wrong account thats their problem to solve.

Flugelhorn

I had that once - the solicitor had sent instruction to their accounts department but it missed the deadline for the day - got the money the next morning 

user1977

The most likely answer is that it simply wasn't sent yesterday. In practice the office will have its internal "cut-off" time given that payments typically need to be authorised by two signatories in the firm and then processed by somebody in their cashroom - and in my experience 3.20pm is usually pretty close to that time.

SiliconChip

I think I read in another thread that Nationwide use HSBC as an intermediary for their CHAPS payments so there's a good chance that even if it left Nationwide before their cut-off time (which is likely to be no later than 16:00) it may not have been processed by HSBC before they cut off for the day. I expect it'll turn up today, but HSBC might batch up their Nationwide payments to process later.

Bookworm105

contact your solicitor, not the internet
if the money has not arrived then how can they have allowed you to "complete"?

user1977

Bookworm105 said:

if the money has not arrived then how can they have allowed you to "complete"?

Completion happens when the solicitor receives the money, that's got nothing to do with whether/when the money is passed on to their client.

Hoenir

CHAPS has a daily cut-off of 3pm (for the payment request) at the Nartionwide. 

Will arrive today as a result. 

Leeslady

Thanks all. Yes, solicitor received funds hence completion.
Hopefully today then. Nationwide thus far aren't being helpful.

Hoenir

Leeslady said:

Hopefully today then. Nationwide thus far aren't being helpful.

If it's in the system. There's nothing more than can be done. Pointless wasting time looking for needles in haystacks. 

Leeslady

Safely arrived at 4pm the following day.