Participant Benefits

  • Settlement account operated by the Bank of England.
  • No minimum payment limit.
  • Ability to influence the strategic direction of the CHAPS scheme.
  • Shareholder of the CHAPS Clearing Company.
  • 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.

 

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.