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The Clearing House Automated Payment System is real-time gross settlement payment system used for sterling transactions in the United Kingdom. CHAPS was originally established in London by the Bankers Clearing House in February 1984, transferring to the CHAPS and Town Clearing Company Limited in December 1985.
The Clearing House Automated Payment System is real-time gross settlement payment system used for sterling transactions in the United Kingdom. CHAPS was originally established in London by the Bankers Clearing House in February 1984, transferring to the CHAPS and Town Clearing Company Limited in December 1985.
