Your selected question and answer
Question:
What is CHAPS?
Answer:
CHAPS is the system used for the electronic processing of financial transactions. CHAPS payments usually clear on the same day if advised by 1.30pm on a Business Day.
If you ask us to make the transfer after 1.30pm on a Business Day or on a non-Business Day we will treat your instruction as having been received on the next Business Day and this is when we will start processing it.
Your money will appear in the receiving account on the same Business Day if before the cut-off time or on the next Business Day if after the cut-off time.
