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Same day electronic transfer.

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  • Same day electronic transfer.

    I am in the process of buying a property and at a later date I want to transfer funds from an online saver account into the solicitors bank account using CHAPS.

    As the nearest branch of the bank I use is 15 miles away I want to make sure I go there well prepared and take everything I will need to make the transfer.

    1) Besides ID like a drivers licence and a bank statement with my name and address on it is there anything else I will need with me?

    2) How much will the CHAPS transfer cost?

  • #2
    Re: Same day electronic transfer.

    Two forms of ID should be enough although you could always check with your bank's website to confirm. CHAPS transfers cost anything up to £35 (mine cost £10 but that was two years ago so may have changed).

    Just a couple of things to bear in mind: best to make sure that you visit your branch to make the CHAPS transfer well before 12 noon or there could be a delay in processing until the next day even though you are effectively paying for same day transfer of funds. Also, try to avoid Fridays. Especially Fridays before Bank Holidays!