CHAPS (Clearing House Automated Payment System) is a Telegraphic Transfer system which allows you to make same business day withdrawals and deposits for your savings accounts.
Paying in with CHAPS
CHAPS payments are guaranteed to be received and cleared by close of business on the same business day that the payer's bank or building society sends the funds, provided they are sent before the provider's cut off time. Please note, your provider may charge an admin fee for this service.
You should check with your provider as to when their cut-off time is for CHAPS.
Withdrawing with CHAPS
Important information on CHAPS payments:
- CHAPS payments can be made from Skipton accounts to a nominated account. The nominated account must be a UK bank or building society account in your own name.
- Any requests received before our payment cut-off time of 3:30pm will arrive in your nominated account by close of business that day dependent on the receiving bank's processing times. Any requests received after 3:30pm, or on a non-working day, will be processed the next business day.
- CHAPS payments can be requested online from existing accounts that are accessible online. You will be prompted to call us to confirm the request, as well as to ensure the fraud statement is read.
- CHAPS will only apply to withdrawals over £100k.
How to request a CHAPS payment for branch accounts:
Over the phone
You can request a CHAPS payment to a nominated account as long as you've set up telephone access. The nominated account must be a UK bank or building society account in your own name.
If your account allows it, to set up telephone access you'll first need to complete the Faster Payment Authorised Bank Account Details Form. We'll then send you further details in the post to complete and return to set up telephone access.
Faster Payment Authorised Bank Account Details Form [PDF]
Alternatively request a Faster Payment
You can withdraw up to £100,000 to your nominated account. Find out more on our Faster Payments page.