Clearing House Interbank Payments System


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Related to Clearing House Interbank Payments System: Fedwire

Clearing House Interbank Payments System (CHIPS)

An international wire transfer system for high-value payments operated by a group of major banks.

CHIPS

Clearing House Interbank Payments System. A wire transfer system allowing participating banks to exchange large amounts of money between themselves as needed. See also: Fedwire.
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It manages and operates the Clearing House Interbank Payments System (CHIPS), the National Check Exchange, and the SVPCo businesses: the Electronic Payments Network (EPN) and Electronic Clearing Services (ECS).
For 34 years The Clearing House Interbank Payments System (CHIPS) has been the industry standard for clearing U.
dollar payments in the New York Clearing House Interbank Payments System.
The Clearing House Interbank Payments System (CHIPS) has substantially eliminated the use of checks for the movement of funds from one bank to another.

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