Help & Support
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Faster payments & standing orders
What is it?
They will reach the destination account by the end of the next working day.
What are the timescales?
The cut-off time for processing these payments is 5pm Monday to Friday (excluding Bank holidays), or 1pm on a Saturday at our branches and midnight for payments processed on the internet on any day. Under normal circumstances a Faster Payment should arrive at the destination account the following working day after the transfer was made. However, this is not guaranteed and on occasions the transfer may take longer.
Any charges?
There is no charge for making a Faster Payment or Standing Order.
There is no charge also for the first failure of a Standing Order/Direct Debit due to insufficient funds in an account. However this only applies to the first failure of one Standing Order/Direct Debit where there are several set up on an account. A charge of £10 will be made for each subsequent failure. A cap of three Failed Payment Charges (for Standing Orders and/or Direct Debits) applies in a calendar month. This cap will reset each calendar month.
Did you know?
You can check the sort code of the bank you wish to send a faster payment to. Visit the Faster Payments Sort Code Checker page to find out how.
How much can I pay from my account by Faster Payments?
Where the destination account has been set up for more than 30 days, transacting from...
- YBS Agency: Up to £10,000
- YBS Branch: Up to £25,000
- Post: Up to £25,000
- Telephone: Up to £25,000
- Online: No limit
Payments can only be made by telephone if your account terms permit.
To find out more about paying money into or out of your account visit Managing your Chelsea Building Society accounts.
CHAPS
What is it?
‘Same day value’ electronic payments which, when received into accounts, are treated as cleared funds. CHAPS transactions can only be actioned via a YBS branch or agency with name ID required.
What are the timescales?
The payment usually arrives in the recipients account the same day, provided the request is made before 3pm, Monday to Friday (excluding bank holidays). Payments made after this will received the next working day.
Any charges?
There is a charge of £23.50 for a CHAPS transaction.
How much can I pay from my account by CHAPS?
- YBS Agency: No limit
- YBS Branch: No limit
- Post: No limit
- Telephone: n/a
- Online: n/a
To find out more about paying money into or out of your account visit Managing your Chelsea Building Society accounts.
For all CHAPS payments we need to see Proof of ID which has a photo. See Verifying your identity for more details.
Cash and Cheques Withdrawal
What is it?
You can make a cash withdrawals from any ATM machine or over the counter in a branch or agency, providing funds are available. You can also raisde a cheque for payment in a branch, agency or over the phone. Proof of identity may be required to make withdrawals
What are the timescales?
For cash withdrawals you can withdraw up to £1,000 on any one day or £5,000 by giving a few days notice. You can only withdraw a maximum of £5,000 in any seven day period. You can withdraw £500 cash daily from any ATM machine if you have a LINK card. The timescales for raising a cheque payment may depend on the terms of your account and whether or not we need any notice for a payment - please refer to your account terms & conditions.
Any charges?
There is no charge for a payment by cheque or making a cash withdrawal.
Where to get cash
- Cash can be withdrawn at any YBS Branch or Agency.
- Up to £500 in cash through ATMs
How much can I pay from my account by cheque or cash withdrawal?
- YBS Agency: Up to £150,000
- YBS Branch: Up to £1,000 on any one day or £5,000 with a few days notice
- Post: No limit
- Telephone: n/a
- Online: n/a
To find out more about paying money into or out of your account visit Managing your Chelsea Building Society accounts.
Get in touch
Call us
0345 850 4041*