Cost Considerations for New Members of CHAPS

Cost Considerations for New Members of CHAPS

 

Fees

  • There are currently no joining fees levied by the CHAPS Clearing Company for a new member
  • External fees levied by suppliers/partners e.g. SWIFT, Bank England, VocaLink and any legal costs will need to be met by the applicant.

Annual Charges

  • CHAPS Scheme annual call – the minimum cost share is 2% of the Company’s overhead subject to a maximum of 26%
  • Bank of England transaction and account management fees
  • SWIFT fees 

[All fees are subject to annual review by the CHAPS Clearing Company Board.]