Can I insist on an electronic payment?

SiliconChip

Savvy_Sue said:

user1977 said:

Savvy_Sue said:

CHAPS would have been fast, safe and secure, but at a cost. 

More or less than the interest lost by having to wait for a cheque to arrive and clear?

My choice would have been CHAPS, but I was over-ruled ... 

It may be too late for the OP but when I was executor collecting funds for distribution I used Metro bank who allow Faster Payments of up to £250,000, which was well in excess of any individual payment that was required, although I did have to go into a branch to make the payments as there was a much lower limit in online banking.

Hoenir

blueminimum said:

As executor of a will I have several payments to make to beneficiaries.  Does anyone know if I can insist that these payments are made by electronic bank transfer as we do not have a cheque book?

As an executor (twice) my personal preference was for issuing cheques. I then knew that the money had been received safely. 

JGB1955

I used a dormant Nationwide current account to hold the proceeds of my father's estate. Fortuitously all 4 beneficiaries also held Nationwide accounts and I was able to transfer six-figure sums just using online banking.

relaxtwotribes

Marcon said:

What are you going to do if a beneficiary refuses to provide their bank details?

FYI my NatWest mobile app allows me to pay contacts or, if the contact hasn’t allowed this I can send a link using Payit that the recipient can use to claim the payment.  In both cases I don’t need to know their bank account details. Just sayin’.