Paying large amount from bank how to do this!

[Nitgel]

Hi how would we pay a large amount from our bank to pay for a property when it exceed the daily limit and branches are closed on Saturday.

Is the only option to wait until they're open on Sat? it would exceed daily limit for online banking.

If you've got the funds can you pay by BACS transfer

Ask the solicitors to hold the funds

You speak to your bank and advise them this payment is going out. However, if you need to pay it tomorrow, I think you have left it too late and the payment will be declined

do I just go into a bank and ask them to send it on Monday? they're all shut satudays

They have to check the source of large payments - it will be held

Tjey will also check the person receiving the money.

This is why you should go via a solicitor - any reason you’re not

Surely the payment is to her solicitor?!

Your solicitor will tell you what to do.

Large sums of money are usually paid via CHAPS. Your conveyancer should be able to do this for you. If not, they can certainly advise you.

Call the bank and do a CHAPs payment. Some banks let you do these online but many you need to call.

It will generally go through CHAPS. If you've never made a transfer like this before, you'll likely have to do it face to face in a branch (unless you're with a digital bank I guess). I had to do it the other day.

Yes it's to pay the solicitor. So I will need to do a chaps face to face.

Bank will want to see you to do the transfer and go through questions regarding fraud/coercion etc.

Did this last week! I had to go into the branch and answer questions, and the bank phoned the solicitor to check that the account details were genuine. Then the transfer was signed off by the manager and the money went through no problem.

Thanks squig. I guess i have to take id etc. Payment has to be received Monday

Are all branches shut or just the one in your town? Can you travel?

Have you checked to see if you can do it via phone banking?

Yes I had to take photo ID and proof of address. Also needed the letter from the solicitor with the details of the transfer, although the bank teller looked up the firm online and used the phone number on the website not the one on the letter in case of fraud.

Yes, take ID, and Solicitors letter, and be prepared to pay a fee (about £20 iirc).
You will get asked lots of questions. It will take time. I'm not sure if we booked an appointment, or just turned up.

How much are you looking to transfer?

its about 200k. There is no time to book an appointment now.

I didn't want to do via telephone as I didn't want any hold ups.

Everywhere is closed on saturdays!

You usually need to go into the bank to request a CHAPS, and most banks charge £20-30 for you to do so.

Sending a CHAPS on Monday will arrive in the receiving bank the same day.

You don't need an appointment to arrange a CHAPS ; you just walk in to the branch and tell them what you want to do that day.

As we found out today our bank close at 3pm on Fridays and some
branches close for an hours lunch!

what the..?!!

Which bank is it?

I had to make an appointment with hsbc to do this about 6 months ago. It took about 45 mins to process and then went through pretty quickly. I made the appointment via telephone banking.

its barclays

Is this for exchange? Or completion?