Telegraphic Transfer - Buying a House

Hi Everyone,

I have been asked by my solicitor to do a Telegraphic Transfer for their fees related to my house purchase and they say it cannot be done by direct transfer but by Telegraphic Transfer which I understand means the bank initiates the transfer. I cannot find anything about this in the help section and I am awaiting support on Monzo chat but urgently need an answer as it coul delay my moving date.

Has anyone been through this or know what I need to do?



Never heard of a telegraphic transfer so will be interested to learn more about it from peoples replies.

Let us know what Monzo say when they reply :pray:

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I hadn’t heard of it either but its for anti money laundering purposes apparently.

Will let you all know what happens!

Trying to keep calm at the moment :rofl: sooo close to getting house haha


Man, solicitors and their ancient language/processes. Another area ripe for delivering onto the 21st century.


Just Googled it and read the below:

So it’s basically guaranteed payment that will be sent with 24hrs.

Surely if you do a normal transfer and give it to them a few days prior to exchange (or even a week) that will suffice?

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Hi Ordog,

Thanks for the google and info above. The solicitor has said that I can’t make the transfer directly it is something the bank essentially needs to raise or send the instruction to do.

I could press the button myself now and transfer but apparently that isn’t in line with the anti money laundering regulations see below:

I would therefore be obliged if you could arrange for your bank to telegraphically transfer this sum to my bank as soon as possible in readiness for exchange and completion. Please note if you use internet banking please allow four working days for the funds to reach me.

Please note that in accordance with the current Money Laundering Regulations we are not permitted to accept cash or any direct payments into our account. These account details are given to you for the purposes of inter bank transfers only.

Unless I am reading this wrong completely? If not, honestly, so many things are still so stuck in the past!

I’d just do as they say :smiley: I’m sure Monzo will be able to help you with it :slight_smile:

Solicitors are (in my experience) a massive pain not only for this but their non-existent communication, and for how long it takes for them to do anything - nevermind their outdated technology and reliance on fax and paperwork in 2020 to name a few :laughing:

It will all be worth it in the end when you’ve got an awesome new home :house_with_garden:

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Interesting that if they ask for it, it means it’s not money laundering. But you sending it yourself might be.

From the same person. The same account. The same money. :man_shrugging:


It is very confusingly worded but it means that they do not accept payments into their business accounts, but they do accept payments into their ringfenced holding accounts which they have provided you the number for. So you are okay to send the transfer.

ALWAYS make sure you ring them using the number on their website to confirm the bank details before sending any money.

And good luck with the new home :tada:

More than likely a CHAPS payment then, good luck

It just means that you can’t give them cash in person, or go to their bank and pay cash/cheque into their account.

Agree though it is pretty shoddy wording.

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Yeah this is nothing to do with AML at all.

All they are saying is they want it transferred by CHAPS so it’s a guaranteed same day transfer. Most banks charge about £25 quid for it. I’ve done a couple before in buying property (not via Monzo though)

Monzo really need to add it to the help section on the app. It comes up with things like “Talk to us about an addiction” or “Talk to us about financial abuse”, as if chaps is people like “I need to talk to you chaps”


It’s CHAPS, which is guaranteed same day for large amounts. My current client is a large law firm, and the Finance team there still refer to CHAPS payments as “TTs”.