Benefits

Customer Benefits

• Allows customers to make high value electronic same-day payments efficiently and securely
• Benefit of knowing that payments received through CHAPS are guaranteed
• Payments are risk free because the money is in the recipient bank after the transaction is settled between the sending and receiving bank.  

Member Benefits

• Real-time gross settlement of payments
• No interbank settlement risk
• A long history of reliable operations even in the most stressful of external circumstances
• Fully resilient systems and payments expertise
• Payment security
• Shareholder of the CHAPS Clearing Company
• Ability to influence the strategic direction of the CHAPS scheme
• No minimum payment limit
• Settlement accounts operated by the Bank of England