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Transferring deposit to solicitor

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Comments

  • Xenon
    Xenon Posts: 303 Forumite
    Part of the Furniture 100 Posts Name Dropper
    edited 17 July 2017 at 4:40PM
    I am in the early stages of house hunting etc etc

    If/when the time comes to hand over the deposit i will be doing it in person face to face.
    I will accept the details in writing and signed in case of any mistakes.

    DOH !

    To clarify getting the solicitors bank details - not handing the cash in person.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Xenon wrote: »
    I am in the early stages of house hunting etc etc

    If/when the time comes to hand over the deposit i will be doing it in person face to face.
    I will accept the details in writing and signed in case of any mistakes.
    business-man-with-a-suitcase-filled-with-money-e985dc.jpg
  • browneyone
    browneyone Posts: 73 Forumite
    Eighth Anniversary 10 Posts Combo Breaker
    When I went into my nationwide branch to transfer 13k they sat me down on a computer and showed me how to just do it myself online.
  • LuckyG
    LuckyG Posts: 226 Forumite
    browneyone wrote: »
    When I went into my nationwide branch to transfer 13k they sat me down on a computer and showed me how to just do it myself online.

    That's what happened for me today, the only reason I couldn't do it from home was because my card reader isn't working.
  • browneyone
    browneyone Posts: 73 Forumite
    Eighth Anniversary 10 Posts Combo Breaker
    He advised (branch manager) to do the same when I transfer they remaining 26500...just split the amounts.
  • glentoran99
    glentoran99 Posts: 5,825 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    browneyone wrote: »
    He advised (branch manager) to do the same when I transfer they remaining 26500...just split the amounts.

    Why split the amounts though?
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    glentoran99 wrote: »
    Why split the amounts though?
    Because most banks (including Nationwide) have limits on how much can be sent via Faster Payments. This varies from £10K per transaction to often £20K per transaction or sometimes £20K per day, though some banks allow greater amounts, so you need to check your bank's rules.

    Check in advancce - don't leave it to the last minute!

    Of course, using CHAPS (usually a £25 - £35 charge) there is no limit.
  • glentoran99
    glentoran99 Posts: 5,825 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    G_M wrote: »
    Because most banks (including Nationwide) have limits on how much can be sent via Faster Payments. This varies from £10K per transaction to often £20K per transaction or sometimes £20K per day, though some banks allow greater amounts, so you need to check your bank's rules.

    Check in advancce - don't leave it to the last minute!

    Of course, using CHAPS (usually a £25 - £35 charge) there is no limit.
    Ah I thought we were discussing CHAPS and was wondering why split the payments, Is CHAPS more secure? asks for a lot more information
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    glentoran99 wrote: »
    Ah I thought we were discussing CHAPS and was wondering why split the payments, Is CHAPS more secure? asks for a lot more information
    The system isn't inherently more secure, but it tends to be used for larger amounts so you would expect your bank to do more security (e.g. calling you back and asking random security questions rather than just letting you do it all online).
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