What is CHAPS Payment?

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In the UK, there is one type of payment scheme called CHAPS Payment. CHAPS Payment has its own set of unique features along with some advantages and disadvantages.


CHAPS payment:


CHAPS stands for Clearing House Automated Payment System and has been in operation since 1984.

  • Both retailers and wholesalers use the CHAPS Payment method. 
  • It is mainly used for high-value payments within the UK. 
  • No minimum payment limit is applicable.
  • CHAPS payments can be done instant or can take up to 1 working day.
  • It is used when transferring amounts worth over £10,000, within the UK.
  • It costs around £25.


CHAPS payments are not generally used for low-value transfers because they are quite expensive to process.

The worth of CHAPS payments is more than £10,000 and can be settled immediately, making them ideal for large and critical transfers.

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