Bank Issue - Where's my money?!

[CellophaneFlower]

I realise I'll get an answer in the morning, but just posting in case anybody has any insight as I'm panicking a bit.

I went into Natwest today and transferred a substantial amount of money via CHAPS. This evening I checked my mortgage account and the money isn't showing, so I checked my bank. The money has gone but it doesn't have the usual CHPS code, instead it says ITL, and the reference is letters and numbers with no relevance to the account I transferred to. Also there is no debit of the CHAPS fee, which normally shows straightaway.

Just called Natwest. They were confused why it was showing as ITL (international) but the Chaps team have gone home, so I've been told to call back in the morning 😫 She said it should be showing on my mortgage account though, as I paid it before 3pm.

Please someone put my mind at rest that my money hasn't vanished 😭

I don’t work for NatWest but have worked for a bank before.

My best guess would be that ITL stands for ‘internal’ and not international if the money was sent from your NatWest account time a NatWest mortgage.

It can sometimes take a day to reflect on your balance depending on the type of payment. I’d have thought a CHAPS would have credited already especially if you have paid a fee. But if you went into a branch to make the payment then any fault lays with the person who processed it. Try not to worry for now.

Thank you. It definitely stands for international, as I googled it. It can relate to CHAPS, but only if Royal Bank of Scotland, but it isn't. I haven't been charged a CHAPS fee, hence I'm suspicious too.

It's a Nationwide mortgage, so not internal. Trying not to worry, but I always get panicky when transferring large sums 🙈

Were you given a copy of the bank transfer?

I hadn't even thought of this! I didn't recall them giving me anything... but I've just checked and I've got a receipt with all details. 😳

I woke up after midnight, so was able to view the transaction properly online. It's now changed to a CHAPS payment and my mortgage account has disappeared so I'm assuming it's been paid 🎉

Panic over and thank you!

After all your worry I just wanted to say congratulations on paying off your mortgage. 🎉🎉

Thank you! It was through inheritance unfortunately, so bittersweet, but it's a lovely feeling. I can now raise a glass of wine to my dad... I held off last night as was petrified I'd sent the money to a random account 🙈

I'll be waiting till tonight to raise the glass btw 😜

I’m sure your dad would be delighted with your use of the money. Congratulations and enjoy 🎉🎉

These transfers can be nerve wracking but I guarantee they haven't lost your money. Congrats paying off the mortgage.

Congratulations! 🎊

Thank you! It doesn't help that the nationwide mortgage account doesn't show as a confirmed account and they read you the riot act before you ok the transfer. I must have checked the details about 20 times! Such a relief now.

I've been in 2 minds for ages about paying it off, as I knew if I posted on here I'd be told it's the cheapest loan I'll ever get and I should invest/pension pot/start a property empire 🤣 It's all very tempting, but just not me... I'm all about the instant security and less stress route!

Thanks again, I'm happy, but would obviously give it back and more to have my dad back again. He loved my house though and was so proud when we bought it a few years ago, so I've definitely done what he'd have wanted 😊