Bank Q: identifying incoming CHAPS payments

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manalishi

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Jul 5, 2007
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608
How does your bank show incoming CHAPS credits?

My Bank (well sort-of-bank, it's the Nationwide building society) does not show any payee information for incoming CHAPS payments on my statments or online.

No matter what the sender writes on the form at their bank (which is typically in Australia, Sweden, Ireland, etc), the only info I can see is "CHAPS credit" plus the amount that's been credited. Nothing from a reference field, or any idea of origin (country, account name, etc).

So whenever I receive a CHAPS payment, I have to call Nationwide, wait on hold, wade through security Qs, wait while they realise they can't see anything either, and then wait until they call their own CHAPS centre and find out. Typically 15-30mins. After the second or third time each week it gets a bit bothersome.

I'd REALLY like to switch to a bank where their system showed payee info/etc.

Anyone here know of any that do?
 
I'm with LloydsTSB, they provide the information you're after.

However I'm currently part way through an Ombusdman claim with them (18 months so far) for gross incompetence, so can't really recommend them. The Ombudsman feels my case is serious enough to warrant full investigation....so fingers crossed I might make the buggers pay.
 
Thanks for that, shame it's not a huge vote of confidence.

Can I just ask - what sort of reference fields appear online? If you asked a customer to put an invoice number as reference, would you see that on the same day that the payment appears?

One thing I forgot - Nationwide uses Midland/HSBC for incoming int'l payments, so it's possible that the info does not come across from HSBC. Maybe if I banked with HSBC (or any proper bank?) it would all appear? Can't get a straight answer out of the Nationwide, unfortunately. :(

(and good luck with the case, BTW)
 
HSBC always takes pride in its "international presence" so you may well have better luck there. Time to visit your local branch and ask the very questions you posted here.
 
I'm with LloydsTSB, they provide the information you're after.

However I'm currently part way through an Ombusdman claim with them (18 months so far) for gross incompetence, so can't really recommend them. The Ombudsman feels my case is serious enough to warrant full investigation....so fingers crossed I might make the buggers pay.
Good luck!
We went through his with Lloyds judgment was in our favour, with a mandatory payment and a recommended payment. They didnt pay the recommendation, which is very rare, cost my familly dear and we had to sell our main house.
As you can imagine I will never recommend them to anyone.
I use natwest for my business, I very rarely have problems with references, when I do they are quick to sort them out.
 
Our business acc is with HSBC and on any automated receipt, we are sent a letter giving all the details of where the payment has come from including everything the payee enters on their system, invoice numbers etc. Private accounts may not have this benefit.
 
Our business acc is with HSBC and on any automated receipt, we are sent a letter giving all the details of where the payment has come from including everything the payee enters on their system, invoice numbers etc. Private accounts may not have this benefit.

I see. I'm still a sole trader using my own account.

That said - sending a paper letter for each incoming CHAPS payment? Seems a bit Victorian :) I want to move to a bank account where the same info shows up online (at the same time as the payment itself).
 
I used to bank with HSBC and now bank with Nationwide. HSBC provide the information you require (well they used to, anyway) for incoming international receipts.

If you have a need for regular international receipts and payments then HSBC offer a better service than Nationwide, but as a UK domestic customer I find Nationwide offer a better package, not least because when I pay for anything abroad by debit or credit card they don't make a transaction charge or load the exchange rate*

Lloyds TSB are, without question, the worst of the UK "big four" for foreign transactions. Avoid them like the plague if you expect anything other than breathtaking incompetance.

* Yes, I know that this isn't true in all circumstances now, following a change of policy by NW earlier this year
 
Hi Phil - that's really useful. I'll pop into the local HSBC and ask. The exchange rate changes over recent months means that about 1/3rd of my income is now from outside GB, and it's probably an area I could increase with a bit more effort.

Thanks for the group effort on Lloyds, chaps. I'm now 110% dissuaded! :)
 
I bank with HSBC - a personal account - and receive a paper confirmation with full details whenever I receive a CHAPS payment...
 
I see. I'm still a sole trader using my own account.

That said - sending a paper letter for each incoming CHAPS payment? Seems a bit Victorian :) I want to move to a bank account where the same info shows up online (at the same time as the payment itself).

Yes, it does seem a bit Victorian, but the paper includes all, if any, deductions and a lot more stuff than can be written on a computerised system, where normally description space is restricted.
 

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