Bacs Payments

[adik]

I understand some banks charge for bacs payments ,is this true and how much do they charge?

[BlackadderV]

Sounds like a right con to me. Every month I make four payments by BACS from my computer. It is credited to the payee almost instantaneously and there are no charges (HSBC).

[hc4361]

This is certainly a CHAPS transfer and banks have different charges - Nationwide is £20, Barclays £25, Bank of Scotland £30, Santander £25

[BlackadderV]

I had never heard of CHAPS so had to look it up. hc is probably right. BACS has a limit of £10k to individuals and as this is from a solicitor it could be in excess of that, either compensation or result of a property sale.