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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Whether a wire transfer is made by the Federal Reserve wire transfer network (Fedwire), the New York Clearing House Interbank Payments Systems (CHIPS), or some other method, the procedure is relatively standard.

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