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What are CHAPS payments?

What are CHAPS payments?

CHAPS stands for Clearing House Automated Payment System which is often used for larger payments you want to arrive on the same day.

CHAPS is the method of payment that is used for payment values in excess of:

  • £20,000.00 for personal customers.
  • £50,000.00 for premier customers.
  • £50,000.00 for business customers (£100,000.00 with biometrics enabled).
  • £1m for Bankline customers.

When you make a CHAPS payment, the money is transferred directly from your bank to the recipient's bank on the same day. This means the recipient gets the funds almost immediately. Once the money arrives in the recipient's account, it cannot be returned unpaid, like a cheque. So, you can be assured that the funds are cleared and available for use right away.

For more information, visit our page on how to make a CHAPS payment.