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How much do the major UK banks charge for CHAPS?

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedJul 20202 min read

Making a CHAPS payment? It can be difficult to know which bank offers you the best deal when it comes to CHAPS fees and charges. Even then, you don’t necessarily want to go trawling through each major bank’s terms and conditions looking for the best option. That’s why we decided to put together this guide to CHAPS fees from some of the UK’s most popular banks, including HSBC CHAPS fees, NatWest CHAPS fees, Barclays CHAPS fees, and more. Find out everything you need to know, right here.

What is a CHAPS payment?

CHAPS (Clearing House Automated Payment System) is a secure bank-to-bank payment system intended for high-value payments (usually around £10,000+). CHAPS guarantees same-day payments, assuming you send the payment before the daily cut-off point, making them a great choice for anyone who needs to make large and time-critical bank transfers. Most UK banks, as well as a couple of international and custody banks, offer CHAPS payments. So, how do you choose which bank is best for your needs?

Well, it’s important to remember that banks charge fees for processing CHAPS payments. Typically, these fees amount to around £25-30, but CHAPS charges vary from bank to bank. Furthermore, members of certain banks may not need to pay a CHAPS fee at all. We’ve put together a rundown of the different CHAPS fees that you can expect to pay at major UK banks, so you can decide where to make your CHAPS bank transfer:

HSBC CHAPS fee

There are several different HSBC CHAPS fees listed in their Business Banking Pricelist. For Sterling transfers within the UK via Business Internet Banking, HSBC charges £17 (or £12 from a Clients Deposit Account). For Sterling transfers within the UK via Business Telephone Banking or in branch, HSBC charges £20 to a HSBC UK branch or £30 to another bank. Finally, the HSBC CHAPS fee for transfers made via post is £40.

Santander CHAPS fee

Santander doesn’t list any specific Santander CHAPS fees online. However, you can find out more about making a CHAPS payment at their customer support centre.

NatWest CHAPS fee

NatWest doesn’t list any specific figures for CHAPS charges online. However, in the Help section of the Bankline app, they state that you can see your Natwest CHAPS fee under the “View Notification” option.

The Co-Operative Bank CHAPS fee

At the Co-Operative Bank, there’s a standard charge of £25 for each CHAPS payment.

Barclays CHAPS fee

There are two levels associated with CHAPS payment fees at Barclays. If you’re a Business Banking customer, you’ll need to pay a £15 fee. However, there’s no Barclays CHAPS fee for Personal, Premier or Platinum customers.

Lloyds CHAPS fee

Lloyds Bank customers can expect to pay a single fee of £30 to make a CHAPS payment.

First Direct CHAPS fee

If you make a CHAPS payment within the UK via phone banking or post, First Direct charges £17. There aren’t any First Direct CHAPS fees for making a CHAPS payment with mobile banking or online banking.

Royal Bank of Scotland (RBS) CHAPS fee

There is a charge of £20 to make a CHAPS payment with RBS.

TSB CHAPS fee

If you want to make a CHAPS payment with TSB, you’ll need to pay a standard charge of £30.

Virgin Money CHAPS fee

You can also make a CHAPS payment with Virgin Money. There’s a £30 fee and the money will be taken directly from your account, although you can also pay by cheque if you’d prefer.

Which is the best bank for sending CHAPS payments?

As you can see, there are some fairly significant differences between the major UK banks when it comes to CHAPS fees. According to our research, Barclays CHAPS fees appear to be the most affordable, particularly since there aren’t any fees for their Personal, Premier, or Platinum customers.

We can help

GoCardless helps you automate payment collection, cutting down on the amount of admin your team needs to deal with when chasing invoices. Find out how GoCardless can help you with ad hoc payments or recurring payments.