CHAPS (Clearing House Automated Payment System) provides a guaranteed same-day service for bank-to-bank GBP payments. It’s mainly used for high-value bank-to-bank and business-to-business payments, although individuals may also send CHAPS payments to buy or sell a high-value item, such as a house or car.
Payments can only be made in GBP, on a UK business day, to another bank that accepts CHAPS payments.