Clearing House Automated Payments System

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 Clearing Services (APACS).

Clearing House Automated Payment System

A company that operates a computer system to perform clearing services for funds and some other investment vehicles denominated in the British pound. It is allied with other clearing houses in the Association for Payment Clearing Services. It began operations in 1984.