What is CHAPS (Clearing House Automated Payment System)?
Responsibility for the CHAPS system transferred to the Bank of England in November 2017.
CHAPS is one of the largest high-value payment systems in the world, providing efficient, settlement risk-free and irrevocable payments. There are over 30 direct participants and over five thousand financial institutions that make CHAPS payments through one of the direct participants.
The CHAPS Clearing Company website has been archived by The National Archives.