Funds from solicitors - how long to wait for payment?

[TheYellowOne]

I moved house last week and as part of the mortgage arrangements, decided to use a little bit of the equity in my old house for improvements/decorating in the new house. My solicitor asked for my bank account details to pay the sum in to it, but to date it hasn't appeared. I moved 8 days ago, and I chased it up 2 days ago, but it still hasn't materialised. Does anyone know how long such a payment would normally take? I'm in Scotland if that makes a difference.

I pay money to clients the same day, the following day if it completes late.

We didn’t complete till 4pm, I had the funds in my account by lunchtime the following day if that helps?

I moved on a Friday and had the funds by Monday lunchtime.

Same day if you pay the bank transfer fee.

Otherwise, three to four working days after completion.

Sounds like someone has either forgotten to send it to you, or it’s gone to the wrong account. Your solicitor should have called you to verify your account details before sending money to you and/or used an online account verification service to check the account details you gave to them belonged to you.

Definitely give them a call tomorrow!

Chase up tomorrow
Normally funds are transferred on the day of completion or the next day
If by any chance the funds have gone to the wrong account the quicker someone gets on to this the better

My cleared that afternoon.

Have you chased up it up with the bank of the solicitor?

A friend of mine had a sizable payment going in. When he eventually called his bank, they had stopped it going into his account until they spoke to him (something to do with fraud reasons I think) but never contact him themselves.

Thanks everyone, these are all really helpful responses. When I chased it up 2 days ago, the sol said they would speak to their finance colleagues to hurry things up. Which made it sound like they knew the transfer of funds hadn't taken place at that point. Throughout the entire process they've been less than competent, so this feels like yet another feature of that. I'll call them tomorrow morning.

@TheYellowOne

Thanks everyone, these are all really helpful responses. When I chased it up 2 days ago, the sol said they would speak to their finance colleagues to hurry things up. Which made it sound like they knew the transfer of funds hadn't taken place at that point. Throughout the entire process they've been less than competent, so this feels like yet another feature of that. I'll call them tomorrow morning.

Some solicitors still settle by cheque in Scotland. Do you know what was in your missives regarding payment?

If by cheque, it’s usually 7 days clearance that’s needed, even for a solicitors cheque.

You need to check your missive. If it was by BACS or CHAPS, you should have been paid same day or next working day if you settled on a Friday. Have you received your state for settlement and fee notes?

Very few settlements by cheque
And even then it should be cleared and paid out by now
Phone them this morning

Update: after an unsatisfactory response this morning I escalated the issue to a senior member of staff and coincidentally - or not - the funds appeared in my account a few hours later. Thanks everyone for your advice. Just glad it's all done now!

Good