Business Terms and Jargon Explained

What is CHAPS

CHAPS Clearing Company Ltd runs payment schemes and provides central infrastructure for same-day payment services primarily for high value transactions. It processes RTGS payments in both Sterling and in Euros. CHAPS currently has 22 direct members of which 14 are members of CHAPS Sterling and 20 are members of CHAPS Euro.

Crown Copyright. Material taken from HM-Treasury. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2007-04-05 18:04:07

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