In the fast-moving business world, your organisation must be able to make and receive fast and efficient payments.
Clearing House Automated Payment System (CHAPS) is an electronic bank-to-bank technology that enables same-day payments to be made within the UK, provided the funds are requested or instruction is received before 4.25pm (in branch) or 5.25pm (via online).
Features and benefits
- Fast, reliable and secure method of guaranteeing same business day payment of cleared funds in the UK.
- Payment is made from one account to another on the same business day.
- Funds are cleared on day of receipt.
- Payments can be made for any amount, so there's no need to worry about cheque guarantee limits.
- Money is received on the same business day, and can therefore be drawn against immediately.
- Payments can be made in Sterling only. They are unconditional, and once made, cannot be recalled.
How to apply
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.