Clearing House Automated Payment System: Difference between revisions
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(CHAPS) | (CHAPS). | ||
''Funds transfer'' | ''Funds transfer''. | ||
A UK-based payment system for high-value, sterling real time gross settlement of transactions ([[RTGS]]) operated by the Bank of England through a subsidiary. It also offered euro payments but this service was discontinued in 2008. | A UK-based payment system for high-value, sterling real time gross settlement of transactions ([[RTGS]]) operated by the Bank of England through a subsidiary. It also offered euro payments but this service was discontinued in 2008. | ||
Revision as of 20:32, 10 August 2016
(CHAPS).
Funds transfer.
A UK-based payment system for high-value, sterling real time gross settlement of transactions (RTGS) operated by the Bank of England through a subsidiary. It also offered euro payments but this service was discontinued in 2008.
It uses the MIRS settlement system back-up system offered by SWIFT as its offshore, distributed processing back-up.
As a result of its migration to a new platform, it was for a while also called NewCHAPS.
