Clearing House Automated Payments System - CHAPS
- Clearing House Automated Payments System - CHAPS
- A British company that facilitates the trading of European currency. CHAPS provides same-day fund transfers for the sterling and the euro. CHAPS transfers are used when money needs to be moved from one account to another. CHAPS transfers are fairly costly, with an average fee of 30 pounds per transfer. CHAPS eliminates float time that occurs with cheque writing and prohibits the sender from rescinding the payment.
CHAPS was first established in London in 1984. It is currently used by 19 settlement banks (including the Bank of England) and over 400 submember institutions. In 2004, CHAPS averaged 130,000 transactions per day, moving 300 billion pounds sterling. New, lower cost transfers have recently become available from the CHAPS system.
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2012.
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Clearing House Automated Payment System — ˌClearing House ˌAutomated ˈPayment ˌSystem abbreviation CHAPS noun BANKING a system for making payments between different banks in Britain and Europe … Financial and business terms
Clearing House Automated Payments System — ( CHAPS) A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment… … Financial and business terms
CLEARING HOUSE AUTOMATED PAYMENTS SYSTEM — (CHAPS) система электронных клиринговых расчетовкомпьютеризированная клиринговая система для стерлинговых денежных операций; действует с 1984 г. и включает в себя 14 банков членов Ассоциации расчетных палат и около 450 банков участников. Входит в … Словарь электронного бизнеса
Clearing House Automated Payments System — /ˌklɪərɪŋ haυs ˌɔ:təmeɪtɪd peɪmənts ˌsɪstəm/ noun a computerised system which is organised by the banks and used for clearing cheques. Abbreviation CHAPS … Dictionary of banking and finance
CHAPS — ( Clearing House Automated Payments System) A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of … Financial and business terms
CHAPS — (англ. The Clearing House Automated Payment System (CHAPS)) система клиринговых расчётов в Великобритании. Работа системы поддерживается компанией CHAPS Clearing Company Limited, основанной в Лондоне в 1984 г. Система связывает 14 банков… … Википедия
CHAPS — noun a computerised system for clearing cheques organised by the banks. Compare BACS. Full form Clearing House Automated Payments System … Dictionary of banking and finance
CHAPS — Clearing House Automated Payment System (Business » Accounting) ** Community Hiv And Aids Prevention Strategy (Community » Educational) * Centre For Horticulture And Plant Sciences (Academic & Science » Botany) * Clearing House Automated Payments … Abbreviations dictionary
CHAPS — For other uses, see Chaps (disambiguation). The Clearing House Automated Payment System or CHAPS is a British company established in London in 1984, which offers same day sterling fund transfers. CHAPS is a member of the trade organisation APACS … Wikipedia
CHAPS — An ISO term. (Clearing House Automated Payment System) An electronic interbank system for sending guaranteed, unconditional, sterling payments for same day settlement from one settlement bank, on behalf of itself or its customers, to another… … International financial encyclopaedia
