Make a CHAPS payment (GBP high-value, same-day) · Help centre

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Help centre Making payments

Payments

Make a CHAPS payment (GBP high-value, same-day)

The UK rail for large, time-critical sterling payments that must settle today with finality.

What CHAPS is for

CHAPS is the UK's real-time gross settlement (RTGS) rail for sterling. Each payment settles individually and irrevocably across the Bank of England — there is no clearing cycle and no upper limit. It is the right choice for property completions, large supplier settlements, margin calls and anything where same-day finality matters and the amount is above the Faster Payments limit.

Because settlement is final and same-day, CHAPS carries a fee where Faster Payments is typically free. If the payment is under GBP 1 million and not time-critical to the hour, Faster Payments is usually the cheaper choice.

Sending a CHAPS payment

  1. 1Payments -> New payment, rail CHAPS, and select your sterling debit account.
  2. 2Enter the amount and the beneficiary sort code and account number (or a UK IBAN).
  3. 3Add a clear payment reference — for a property completion, the solicitor's file reference.
  4. 4Submit before the portal cut-off shown on the screen (earlier than the scheme cut-off, to leave time for approval and screening).
  5. 5A second authoriser approves; the payment is screened, settled at the Bank of England, and marked Settled with a finality you can rely on.

Watch the cut-off

The CHAPS scheme cut-off for customer payments is 17:40, but your bank cut-off is earlier to allow for approval and sanctions screening. Submit a same-day CHAPS well before the portal cut-off shown on the payment screen. A payment submitted after it will value-date to the next business day.

Important

CHAPS is irrevocable once settled. Double-check the sort code, account number and amount before you release — a misdirected CHAPS can only be recovered by asking the beneficiary bank to return it, which is not guaranteed.

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About this guide

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Making payments
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Updated
16 Oct 2026
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