How Long Does a Bank Transfer from a Solicitor Take

When you buy or sell a property, large sums of money move between accounts. Solicitors handle these transfers to ensure funds are secure, properly recorded, and only released when all conditions of the transaction are met. Understanding how long these transfers take can help you plan your completion day and avoid unnecessary stress.

Typically, a solicitor’s bank transfer takes between one and four hours, but this can vary depending on the payment type and the circumstances of the transaction.

The Different Types of Bank Transfers Used by Solicitors

Solicitors use a few main methods to transfer money, depending on the purpose and amount involved.

1. CHAPS (Clearing House Automated Payment System)

This is the most common method solicitors use for large transactions, such as transferring completion funds when buying or selling a house. CHAPS payments are same-day transfers that typically take one to four hours to process, provided they are sent before the bank’s daily cut-off time (usually around 3pm).

If your solicitor initiates a CHAPS payment after the cut-off time, it will usually be processed the next working day.

2. Faster Payments

Some smaller payments, such as refunds or disbursements, may be sent using the Faster Payments system. These transfers can arrive within minutes but can take up to two hours depending on the receiving bank.

Faster Payments are often used for lower-value transactions, as the system has an upper limit (usually around £1 million, though some banks set lower thresholds).

3. BACS Transfers

Although rare in conveyancing, BACS payments may be used for general business transactions or smaller sums. These take up to three working days to clear, so they’re not suitable for time-sensitive property completions.

What Affects the Speed of a Solicitor’s Bank Transfer

Several factors can influence how long a transfer from your solicitor takes:

• Bank cut-off times: Transfers made after a bank’s daily processing deadline are delayed until the next business day.

• Verification procedures: Solicitors must carry out due diligence checks before transferring large sums, which can take time, especially on completion day.

• Receiving bank policies: Some banks process incoming payments faster than others. If the receiving account is with a smaller or international bank, it may take longer.

• Weekends and bank holidays: Transfers only process on working days. Payments made late on a Friday may not reach the recipient until Monday.

• Transaction complexity: Large transactions or chain completions may involve several transfers that need to be carefully coordinated.

Typical Timelines for Property Transactions

On the day of completion, most property purchases and sales rely on CHAPS transfers. Here’s how the process usually works:

1. Morning: The buyer’s solicitor sends completion funds to the seller’s solicitor via CHAPS.

2. Late morning to early afternoon: The receiving solicitor confirms receipt of funds.

3. Once confirmed: The seller’s solicitor authorises release of keys, and the property officially changes ownership.

If the payment is sent early in the day and there are no delays, completion can happen by midday. However, in busy property chains or when banks are slow to process payments, completion can be delayed until late afternoon.

Why Solicitors Use CHAPS Instead of Regular Bank Transfers

Solicitors use CHAPS payments because they are secure, fast, and suitable for large amounts. The system is designed specifically for high-value transactions where timing is critical.

Unlike personal bank transfers, CHAPS payments are guaranteed once processed and can be tracked easily, giving both parties confidence that funds will arrive safely and on time.

Although there is usually a small fee (typically between £20 and £30) for CHAPS payments, the speed and reliability justify the cost.

Common Reasons for Delays

Even with same-day systems, delays can still occur. Common reasons include:

• Late submission: If your solicitor initiates the transfer after the bank’s cut-off time.

• Bank verification checks: Larger sums may be subject to additional fraud prevention steps.

• Incorrect details: Errors in account numbers or sort codes can cause payments to fail or be delayed.

• Property chains: When multiple transactions depend on one another, a single delay can hold up all linked transfers.

To minimise the risk of delays, solicitors usually confirm payment details early and schedule transfers to go out first thing on completion day.

How Solicitors Ensure Security During Transfers

Solicitors have strict rules governing how client money is handled. Funds are kept in designated client accounts, separate from the firm’s own finances. Before sending a transfer, solicitors verify the recipient’s details and carry out checks to prevent fraud or money laundering.

Using a solicitor for bank transfers adds a layer of protection that personal transfers can’t offer. If something goes wrong, the process is traceable and covered by professional regulations.

What to Do If a Transfer Takes Longer Than Expected

If your solicitor’s transfer seems delayed, don’t panic immediately. Banks sometimes take time to process high-value payments, particularly during busy periods.

Ask your solicitor for confirmation of when the payment was sent and whether it was made via CHAPS or Faster Payments. They can usually track the transaction and confirm its status.

If there is an unexpected delay beyond the working day, your solicitor will contact the bank to investigate.

How to Prepare for Completion Day

To avoid stress on completion day:

• Confirm all bank details in advance with your solicitor.

• Transfer any required funds (such as your deposit) well before the deadline.

• Stay available by phone or email in case updates or approvals are needed.

• Avoid scheduling completion on Fridays or before bank holidays when processing times are slower.

Preparation helps ensure your transfer happens smoothly and your keys are released on time.

Final Thoughts

A bank transfer from a solicitor usually takes between one and four hours using the CHAPS system, but several factors can influence timing. Choosing an experienced conveyancing solicitor helps ensure payments are handled securely, efficiently, and without unnecessary delay.

Solicitors play a vital role in managing property funds safely and legally, providing the reassurance that large financial transactions are completed properly.

At Lillian Purge, we help solicitors improve their visibility online, ensuring that homebuyers and sellers looking for professional legal support can find their services easily through search.