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  • shoe-queen
    • #2
    • 22nd Aug 08, 6:47 AM
    • #2
    • 22nd Aug 08, 6:47 AM
    Hi, Chaps can be same day, BACS needs 1 full clearing day E.G BACS payment sent on a Wednesday will be cleared in your account on the Friday am.
    • whu
    • By whu 22nd Aug 08, 8:15 AM
    • 22,725 Posts
    • 60,620 Thanks
    whu
    • #3
    • 22nd Aug 08, 8:15 AM
    • #3
    • 22nd Aug 08, 8:15 AM
    CHAPS is the same day but costs £20-30 - BACS is 2-3 working days(free) after the request ie if request transfer on a monday it will arrive on wednesday or thursday (in my experience it depends on which bank is sending it)
  • lesley1960
    • #4
    • 22nd Aug 08, 8:20 AM
    • #4
    • 22nd Aug 08, 8:20 AM
    Although with this new fast bank system some bacs payments get there quicker , I paid someone on Wednesday they received it two hours later !,
  • deltatwo
    • #5
    • 22nd Aug 08, 5:57 PM
    Chaps
    • #5
    • 22nd Aug 08, 5:57 PM
    Hi,

    If a CHAPS payment is made late on a Friday, will it show on the receiver's account on the Saturday?

    Thanks
  • Scousebird
    • #6
    • 22nd Aug 08, 10:56 PM
    • #6
    • 22nd Aug 08, 10:56 PM
    Hi,

    If a CHAPS payment is made late on a Friday, will it show on the receiver's account on the Saturday?

    Thanks
    Originally posted by deltatwo
    Don't think so.

    It's a Clearing House Automated Payment System

    They only operate Monday to Friday....very much like a cheque.
    Last edited by Scousebird; 22-08-2008 at 11:02 PM.
    Loan-3600 only 24 months of payments to go!!!
    All debt consolodated and cards destroyed!!
    As D'Ream would sing 'Things.....can only get better'!!!
  • Lollypop2222
    • #7
    • 27th Nov 08, 4:51 PM
    • #7
    • 27th Nov 08, 4:51 PM
    hi, will bacs payments clear on a saturday with nationwide?

    Thanks
    • agsnu
    • By agsnu 27th Nov 08, 5:58 PM
    • 1,434 Posts
    • 555 Thanks
    agsnu
    • #8
    • 27th Nov 08, 5:58 PM
    • #8
    • 27th Nov 08, 5:58 PM
    hi, will bacs payments clear on a saturday with nationwide?
    Originally posted by Lollypop2222
    No, they will not.
  • Extant
    • #9
    • 27th Nov 08, 6:18 PM
    • #9
    • 27th Nov 08, 6:18 PM
    Hi,

    If a CHAPS payment is made late on a Friday, will it show on the receiver's account on the Saturday?

    Thanks
    Originally posted by deltatwo
    Unlikely - most banks operate a cut off after which payments will be made on the next working day.
    What would William Shatner do?
  • shoe girl
    bacs is 3-4 days and chaps is 1 day or next working day (depending if its a bank/insurance company ect.) chaps should in by end of buisness for your bank
  • Extant
    bacs is 3-4 days and chaps is 1 day or next working day (depending if its a bank/insurance company ect.) chaps should in by end of buisness for your bank
    Originally posted by shoe girl
    CHAPS is 0 day - it's a same day payment system. There should be no delay if the instruction is made before any relevant cut offs etc. This is the same regardless of the sender.
    What would William Shatner do?
  • shoe girl
    knew i forgt to add something in there

    ty
    • Graham1
    • By Graham1 27th Nov 08, 7:37 PM
    • 443 Posts
    • 167 Thanks
    Graham1
    CHAPS is not just same day it is RTGS (real time gross settlement) - banking speak for real time - you (theoretically) have the money the same minute it arrives. However it is entirely up to the receiving bank what time of the day they actually update your account balance. They might do it within an hour or two or they might wait until their end of day batch processing (which might be during the night in the early hours of the morning).
    • Mikeyorks
    • By Mikeyorks 27th Nov 08, 8:12 PM
    • 10,287 Posts
    • 4,696 Thanks
    Mikeyorks
    However it is entirely up to the receiving bank what time of the day they actually update your account balance.
    Originally posted by Graham1
    Just as you have no real control over when the sending Bank issue it. So describing it as a 'real time' system is more than a trifle misleading.

    But why are people answering posts which were satisfactorily answered 3 months ago !!
    If you want to test the depth of the water .........don't use both feet !
    • Thomas Crown
    • By Thomas Crown 28th Nov 08, 3:55 AM
    • 717 Posts
    • 204 Thanks
    Thomas Crown
    But why are people answering posts which were satisfactorily answered 3 months ago !!
    Originally posted by Mikeyorks

    Somebody (Lollypop2222 in this case) resurrects an old thread & people respond without noticing the date the thread was originally started.
  • Lollypop2222
    :confused: I'm sorry I was only asking a question that I couldnt find the answer to on here
    • cifpower
    • By cifpower 2nd Dec 09, 1:23 AM
    • 6,448 Posts
    • 4,093 Thanks
    cifpower
    It's been another year!


    • Mikeyorks
    • By Mikeyorks 2nd Dec 09, 10:59 AM
    • 10,287 Posts
    • 4,696 Thanks
    Mikeyorks
    It's been another year!
    Originally posted by cifpower

    Obviously a long lasting Lollypop!!
    If you want to test the depth of the water .........don't use both feet !
  • darby

    But why are people answering posts which were satisfactorily answered 3 months ago !!
    Originally posted by Mikeyorks
    I don't know.
    • Mikeyorks
    • By Mikeyorks 13th Nov 10, 3:09 PM
    • 10,287 Posts
    • 4,696 Thanks
    Mikeyorks
    I don't know.
    Originally posted by darby
    Nice to see you maintaining a history of intelligent posts.
    If you want to test the depth of the water .........don't use both feet !
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