Clearing House Automated Payment System and Credit card: Difference between pages

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(CHAPS). A UK-based payment system for high-value, same-day settlement of transactions.  
A card indicating that the holder has been granted a line of credit.  
 
 
The credit card enables the holder to make purchases and/or withdraw cash up to a pre-arranged ceiling; the credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit.
 
Interest is charged on the amount of any extended credit and the card holder is sometimes charged an annual fee.


As a result of its migration to a new platform, it is also called NewCHAPS.


== See also ==
== See also ==
* [[Clearing House Interbank Payment System]]
* [[Corporate card]]
* [[Faster Payments Service]]
* [[Credit]]
* [[Fedwire]]
* [[Credit card company]]
* [[NewCHAPS]]
* [[Debit card]]
* [[MIF]]
* [[Payments and payment systems]]
* [[Travel and entertainment card]]


[[Category:Cash_management]]
[[Category:Liquidity_management]]

Revision as of 14:34, 17 May 2019

A card indicating that the holder has been granted a line of credit.


The credit card enables the holder to make purchases and/or withdraw cash up to a pre-arranged ceiling; the credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit.

Interest is charged on the amount of any extended credit and the card holder is sometimes charged an annual fee.


See also