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Clearing House Automated Payments System

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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 Clearing Services (APACS).

Clearing House Automated Payments 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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often abbreviated to 'TT', is most often used in UK Banking to refer to a CHAPS transfer; that is a payment made via the Clearing House Automated Payments System.
often abbreviated to 'TT', is most often used in UK Banking to refer to a CHAPS transfer; that is a payment made via the Clearing House Automated Payments System.
often abbreviated to 'TT', is most often used in UK Banking to refer to a CHAPS transfer; that is a payment made via the Clearing House Automated Payments System.
 
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