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- 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.
- 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.