Clearing House Automated Payment System
Computerised payment system for clearing cheques operated by banks in the UK.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Clearing House Automated Payment System — ˌClearing House ˌAutomated ˈPayment ˌSystem abbreviation CHAPS noun BANKING a system for making payments between different banks in Britain and Europe …   Financial and business terms

  • Clearing House Automated Transfer System — The Clearing House Automated Transfer System, or CHATS, is a Real Time Gross Settlement (RTGS) system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited, a private company jointly owned by the Hong Kong …   Wikipedia

  • Clearing House Automated Payments System — ( CHAPS) A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment… …   Financial and business terms

  • Clearing House Automated Payments System - CHAPS — A British company that facilitates the trading of European currency. CHAPS provides same day fund transfers for the sterling and the euro. CHAPS transfers are used when money needs to be moved from one account to another. CHAPS transfers are… …   Investment dictionary

  • Payment system — A payment system is a system (including physical or electronic infrastructure and associated procedures and protocols) used to settle financial transactions in bond markets, currency markets, and futures, derivatives or options markets, or to… …   Wikipedia

  • Automated Clearing House — (ACH) is the name of an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions which are originated in batches. Rules and regulations governing the ACH network are… …   Wikipedia

  • Automated Clearing House - ACH — An electronic funds transfer system run by the National Automated Clearing House Association. This payment system deals with payroll, direct deposit, tax refunds, consumer bills, tax payments and many more payment services. The use of electronic… …   Investment dictionary

  • New York Clearing House — The New York Clearing House Association, the nation’s first and largest bank clearing house, was created in 1853, and has played a variety of important roles in supporting the development of the banking system in America’s financial capital.… …   Wikipedia

  • Clearing (finance) — In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. Clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying… …   Wikipedia

  • automated clearinghouse — ( ACH) The ACH network is a nationwide electronic funds transfer system for participating depository financial institutions. The American Clearing House Association, Electronic Payments Network, Federal Reserve and Visa act as ACH Operators,… …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”