Damn banks!! - I'm depressed

Originally Posted by Kwakadan

I'm trying to sell my wife to fund my next bike.....does that count?

Depends what she looks like and how much you want!


(no offence Dan, only joking)

When I send CHAPS payments to clients - and it is a pretty well daily occurrence - they are cleared funds. There is no crap about waiting a day or so to be able to draw. Go round and complain like stink. Do not take no for an answer. If the solicitor sends the money tomorrow then the money will be on your account tomorrow. The sending bank won't guarantee at what time the funds will arrive, all they will say is that it will be there by close of business. Maybe this is what NatWest meant. But if the money arrives at say 2pm then you should be able to draw on it at 2.01pm.

Originally Posted by Ed

When I send CHAPS payments to clients - and it is a pretty well daily occurrence - they are cleared funds. There is no crap about waiting a day or so to be able to draw. Go round and complain like stink. Do not take no for an answer. If the solicitor sends the money tomorrow then the money will be on your account tomorrow. The sending bank won't guarantee at what time the funds will arrive, all they will say is that it will be there by close of business. Maybe this is what NatWest meant. But if the money arrives at say 2pm then you should be able to draw on it at 2.01pm.

The above from Ed is actually how I get paid (only via BACS not CHAPS). I get paid the last working day of each month, and the BACS information is apparently sent out at the end of the day. That doesn't actually stop me from being able to spend money at 9am the same day that I get paid.

Hehe I was hoping Ed would post on here at some point and explain it

And thanks for the additional info Baph

Originally Posted by beniryu

Hehe I was hoping Ed would post on here at some point and explain it

And thanks for the additional info Baph

Chaps is cleared funds - Bacs is automated transfer but still needs a time to clear. Reason why you pay a fee for chaps. Pretty much what I said previously.

Originally Posted by Steve H

Kick up a stink. If the Solicitors' pay the proceeds of sale to your account via a Telegraphic Transfer (ie Chaps and not Bacs) at a reasonable time tomorrow, this will be 'cleared funds' (the reason a not insubstantial fee is paid to the bank for this 'service')
I would rant and rave at your Bank, if i were you.

I'll get my cloak of invisibility then.

Originally Posted by Steve H

I'll get my cloak of invisibility then.

I was just appreciating the free solicitors advice from Ed Steve cause its not something you find very often

I did read your post ..... honest

NATWEST are terrible, and all banks gain oodles of money through interest on "3 day electronic transfers". It's a total rip off.

Originally Posted by beniryu

I was just appreciating the free solicitors advice from Ed Steve cause its not something you find very often

I did read your post ..... honest

No worries. Bloody Lawyers. ( Ed will get the joke.)

[Stu]

As above, just assume you were actually buying another house with the money instead of a K7. Would you put up with being homeless over the weekend?
Now enjoy the bike from Saturday (I assume Gixxer 1000 rather than SV?)