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Clearing House Automated Payment System

   Also found in: Acronyms 0.09 sec.
Clearing House Automated Payment System
A company that operates a computer system to perform clearing services for funds and some other investment vehicles denominated in the British pound. It is allied with other clearing houses in the Association for Payment Clearing Services. It began operations in 1984.


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Four of the travellers in the party, all clients of Mr Scott, opted to pay the money directly into his personal Coutts account via a process known as the Clearing House Automated Payment System or
A more costly system (with fees around £25 per transaction) is the Clearing House Automated Payment System (CHAPS).
THE normal way to get your hands on your money the same day is through the clearing house automated payment system (Chaps).
 
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