djuk

Does anybody who works in banking happen to know if a same day CHAPS transfer usually takes right to the end of the working day or normally a couple of hours to complete?

I need to transfer some money at 9am on Wednesday morning with a view to withdrawing it at the destination bank account by 5pm the same day and just wondering if it's likely to work out like that

Thanks

David

Abdabz

Natwest told me it was same working day however I did my transaction (last week) on a Saturday - thus the funds were cleared and transferred by Monday lunchtime. Ring your bank for clarity - most have lines open 24 hours - but if you transfer at 9am I'm pretty sure you'll be sorted by close of play...
P

djuk

Cheers that sounds hopeful

I've spoken to Abbey National but the only guarantee they will give is cleared by the end of the day which is 5.45 when the local branch closes at 4.30 so who knows!

4X4BOB

Just asked the wife, and she says that with the Halifax, if you do a CHAPS transfer its normally cleared within a couple of hours. But, just to cover their @rses they will advise customers it "could" take until the end of that business day.
So if whoever you use don't screw anything up, if you do a CHAPS at circa 9am, you can withdraw at the other end by lunchtime.

From personal experience, we have done several CHAPS transfers from our Halifax account to Currencies Direct over the past few months, and each time its arrived within the hour!

Bob