CHAPS means same day electronic transfer of funds payments in GBP in the UK made through the Clearing House Automated Payment System (CHAPS).
CHAPS means clearing houses automated payment systems;
CHAPS means the Clearing House Automated Payment System initiative within the UK.
Examples of CHAPS in a sentence
All payments shall be made by direct debit mandate or standing order mandate, CHAPS transfer, BACS transfer or other electronic or telegraphic transfer to a London clearing bank or such other financial institution as may be approved by the party entitled to the payment, such approval not to be unreasonably withheld or delayed.
Failure to pay can result in payments being agreed to be paid by debit or credit card, cheque, BACS or CHAPS, which carries a £4.99 + VAT admin charge.
This means you cannot use this type of account to make, for example, Faster Payments, CHAPS transfers or overseas payments such as SEPA Credit Transfers.
More Definitions of CHAPS
CHAPS means the Clearing House Automated Payment System;
CHAPS means the Clearing House Automated Payments system for processing same day sterling payments within the UK.
CHAPS means the UK payment system referred to by that name and provided by Chaps Clearing Company Limited;
CHAPS means the clearing houses automated payment system or any other method of electronic transfer for same-day value;
CHAPS means Clearing House Automated Payment System.
CHAPS means Clearing House Automated Payments System, a bank-to-bank technology which enables same-day payments to be made within the UK, provided the payment instruction is received by the sending bank or organisation before a certain time. Contactless means a payment feature that provides Cardholders with a way to pay by tapping the Card on a point- of-sale terminal reader, for Card Transactions of up to £30 (as amended from time to time).