C · Glossary
CHAPS payment
Same-day high-value UK bank transfer, used for property purchases and large invoices.
CHAPS (Clearing House Automated Payment System) is the UK's same-day, high-value payment system. Used for property completions, large business-to-business invoices, and tax payments where same-day clearance matters.
Banks usually charge £20–£40 per CHAPS payment. Faster Payments is free and near-instant for amounts up to £1m.
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