Proceeds of sale and NS&I?

[SwishSwishBisch]

The sale of my old home is (finally, after an obscenely long time) due to complete tomorrow. As I am not buying a new home just yet for personal reasons, I wanted to ensure the proceeds from the sale were tucked away safely so I have nominated a NS&I direct saver due to the much higher guarantee.
What I didn’t realise when I nominated it is that they don’t play well with the CHAPS system and apparently the money won’t appear in my account for 2-3 days. Is that right? Has anyone had experience of it being quicker than that?

Its not that I need the cash yet, or feel distrustful of their system, but I think the usual night before jitters have just got me feeling anxious about the fact I won’t be able to see the money until we’ll after the weekend!

I had thought that only you can pay into your NS&I account. So the house sale money would need to go into your bank account, then you transfer it into your NS&I.

That’s interesting - do you have a link or anything saying that? My solicitor didn’t seem fazed when I nominated it, so I assumed I wasn’t the first to want to use them. That will be even more of a bugger if so, as the nominated account has to be verified in hard copy to avoid fraud, so would have to entrust the proceeds to the solicitors in the short term until I could do that! I would have hoped they would have said if it was going to be an issue.
oh dear, now I’m more anxious! 😂

www.nsandi.com/products/direct-saver

It says "Top up by bank transfer
When you pay by bank transfer, you're confirming your bank account is a UK account in your name."

I'd speak to your solicitor. The money will be ok in your solicitors client account whilst you nominate a new bank account for the sale proceeds.

Mine took 2 days adter cashing out to reach my bank account

Did the same recently. Got sale proceeds paid in to current account by my solicitors and then transferred to NS&I