Inheritance payment bank charges

Sandra71

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) when you've already received more than 99.5% of the legacy you were due?

There are 12 beneficiaries named in this will that have all been charged the same. I feel this is an unethical practice that needs highlighting 

SiliconChip

user1977 said:

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) 

A large chunk (possibly most) of it is the firm's own fee rather than their bank's charge. Hence why they are fond of pretending they can't do any cheaper payment methods.

I'm not sure that's right, £25 seems to be a pretty common charge for CHAPS payments by High Street banks, so if the solicitor is paying that then they've only added £5 for their time (and they might be with a bank that charges the full £30).

user1977

SiliconChip said:

user1977 said:

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) 

A large chunk (possibly most) of it is the firm's own fee rather than their bank's charge. Hence why they are fond of pretending they can't do any cheaper payment methods.

I'm not sure that's right, £25 seems to be a pretty common charge for CHAPS payments by High Street banks, so if the solicitor is paying that then they've only added £5 for their time (and they might be with a bank that charges the full £30).

The charges are somewhat lower for businesses doing lots of payments, I was surprised when I worked somewhere which only passed on the actual cost which was £8 or so (admittedly a while ago but when firms were charging £25+).

poseidon1

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) when you've already received more than 99.5% of the legacy you were due?

Chaps bank fees ( charged by the bank ) would have been £25/£30 ( Lloyds charge £30). This disbursed via the solicitor's client account would then attract 20% vat, hence the total £36 charge.

Solicitors invariably use Chaps when paying out funds held on client account ( anyone selling a house would have noticed a chaps charge debited from completion monies).

I agree with you, life is too short to make a song and dance of the issue.

35har1old

Sandra71 said:

Hoenir said:

What options did the solicitor give to you to receive payment? You must have provided your bank details in order to do so.  

We weren't given any options to receive payment. The letter from the solicitor said the simplest way to pay out the legacy is via a bank transfer. I had to go in to the office with my bank details and ID documentation 

Should have asked for a cheque when you took the ID in

Hoenir

user1977 said:

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) 

A large chunk (possibly most) of it is the firm's own fee rather than their bank's charge. Hence why they are fond of pretending they can't do any cheaper payment methods.

Be a straight recharge of the disbursement incurred. The Estate will incur all the internal solicitors administration charges for time incurred in handling the estate.  The residue beneficiaries all the ones that pick up the final tab. 

doodling

poseidon1 said:

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) when you've already received more than 99.5% of the legacy you were due?

Chaps bank fees ( charged by the bank ) would have been £25/£30 ( Lloyds charge £30). This disbursed via the solicitor's client account would then attract 20% vat, hence the total £36 charge.

Solicitors invariably use Chaps when paying out funds held on client account ( anyone selling a house would have noticed a chaps charge debited from completion monies).

I agree with you, life is too short to make a song and dance of the issue.

The cost is entirely irrelevant, the OP should not be paying it, it should be borne by the residual beneficiaries.  The OP is due £8000, they have not yet received all of it.

As with everything in life, being given part measures is annoying and just as you wouldn't put up with your local pub landlord doing it, you don't have to put up with an executor doing it.  At what point do you believe that this becomes unacceptable - if the solicitor decided to omit £264 from.the payment would that be OK?

It is entirely for the OP to decide whether their life is too short or not.  The OP also needs to consider whether they are comfortable disturbing the lay executor (and maybe the residual beneficiaries) who will no doubt have to sort out the solicitor's incompetence if the OP decides to pursue it.

Ultimately, if the OP chooses to pursue it then there is no question in my mind that the executors will end up paying up.

Sandra71

doodling said:

poseidon1 said:

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) when you've already received more than 99.5% of the legacy you were due?

Chaps bank fees ( charged by the bank ) would have been £25/£30 ( Lloyds charge £30). This disbursed via the solicitor's client account would then attract 20% vat, hence the total £36 charge.

Solicitors invariably use Chaps when paying out funds held on client account ( anyone selling a house would have noticed a chaps charge debited from completion monies).

I agree with you, life is too short to make a song and dance of the issue.

The cost is entirely irrelevant, the OP should not be paying it, it should be borne by the residual beneficiaries.  The OP is due £8000, they have not yet received all of it.

As with everything in life, being given part measures is annoying and just as you wouldn't put up with your local pub landlord doing it, you don't have to put up with an executor doing it.  At what point do you believe that this becomes unacceptable - if the solicitor decided to omit £264 from.the payment would that be OK?

It is entirely for the OP to decide whether their life is too short or not.  The OP also needs to consider whether they are comfortable disturbing the lay executor (and maybe the residual beneficiaries) who will no doubt have to sort out the solicitor's incompetence if the OP decides to pursue it.

Ultimately, if the OP chooses to pursue it then there is no question in my mind that the executors will end up paying up.

Yesterday I found the solicitors complaint process online so I've emailed and cc'd both solicitors listed as complaint personnel (funnily enough the executer of my friends will is also one of the solicitors named as one of the complaints personnel 🤦‍♀️). I have given them 8 weeks to return the £36 before I forward my complaint to the Legal Ombudsman as I believe it is unethical to charge  beneficiaries, of fixed sum legacies,  an admin fee, which is essentially what this transfer charge is. 

Sandra71

poseidon1 said:

SiliconChip said:

Is it really worth wasting any of your time trying to persuade a solicitor to pay you £36 (which they have probably already paid for the service provided even if it wasn't completely necessary) when you've already received more than 99.5% of the legacy you were due?

Chaps bank fees ( charged by the bank ) would have been £25/£30 ( Lloyds charge £30). This disbursed via the solicitor's client account would then attract 20% vat, hence the total £36 charge.

Solicitors invariably use Chaps when paying out funds held on client account ( anyone selling a house would have noticed a chaps charge debited from completion monies).

I agree with you, life is too short to make a song and dance of the issue.

No need for a song and dance. An email sent from me, on Tuesday, pointing out the unethical charges and mentioning the Legal Ombudsman seems to have hit a nerve and ALL the beneficiaries have been refunded today!

Sandra71

**UPDATE**
I sent the solicitor a letter pointing out that their practice of charging beneficiaries bank transfer fees, with no other option for payment offered, is unethical and that I would be referring the matter to the Legal Ombudsman.
   Today I have received a email from them advising me that "in this occasion" all beneficiaries are have the £36 returned to their bank accounts.