CHAPS transfer fees: UK bank comparison for businesses or big purchases

As an individual with an upcoming big purchase or a founder of a growing business, you'll likely need to make large same-day transfers. Clearing House Automated Payment Systems (CHAPS) delivers time-critical, high-value domestic payments. Depending on the provider and account type, CHAPS payment charges typically range from £15-£25 per transfer. If your business regularly relies on same-day payments, those differences can quickly add up.

This guide compares CHAPS transfer fees across major UK banks, explaining how the pricing works and what you should consider before initiating payments with CHAPS.

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Why are CHAPS payments generally more expensive?

CHAPS payments are largely more expensive because of the costs banks incur to access and operate within the Bank of England’s Real-Time Gross Settlement-backed CHAPS system¹. These costs go beyond what you see at the point of payment.

Banks that process CHAPS payments directly are known as Direct Participants, and they can connect to the system through the Bank of England and settle large-value payments with guaranteed same-day finality.

The Bank of England charges Direct Participants specific RTGS CHAPS tariffs: an annual participation fee, which reflects each bank’s share of overall system activity and a usage fee, currently 48.7 pence per CHAPS payment processed¹. In addition, banks bear internal costs such as technology infrastructure, system maintenance, security controls, and liquidity requirements for holding funds at the Bank of England².

These expenses are why CHAPS transfers typically cost more than other payment methods. Faster options may be cheaper, but they don’t offer the same speed of settlement certainty or capacity for high-value transactions.

What do UK banks charge for CHAPS?

Banks typically charge between £15-£25 per transfer, depending on their pricing structure and internal cost model.

Here is how major UK banks structure their same-day transfer costs for customers.

Santander CHAPS payments

Santander Bank charges a flat fee of £25 per CHAPS payment³. Your transaction will be settled on the same day if you submit your transfer between 8am and 6pm, Monday to Sunday³. For telephone banking, the cut-off time is 1pm. For in-branch transfers, it’s 3pm⁴.

Santander caps Faster Payments at £100,000³. If you need to send more than this amount, you can use CHAPS as it has no upper limit.

You can initiate a CHAPS payment either in branch or via telephone banking. There is no stated daily upper limit on the amount you can transfer using CHAPS.

Natwest CHAPS payments

NatWest charges slightly less than Santander for CHAPS transfers, charging £21 for payments between NatWest accounts and £23 per payment to non-NatWest accounts⁴.

You can initiate same-day CHAPS payments in branch before 3:59pm or by faxing a request to the payment centre before 3:15pm. Telephone banking is available only to Premier Banking customers and must be completed before 2:00pm for same-day processing⁴.

NatWest doesn’t set a maximum transfer limit for CHAPS. But before a payment qualifies for CHAPS it needs to exceed a minimum limit ⁴:

• £20,000 for personal customers
• £50,000 for Premier customers
• £50,000 for business customers, or £100,000 if biometrics are enabled
• £1 million for Bankline customers⁴.

Once your payment exceeds the relevant threshold for your account type, it can be processed as a CHAPS transfer.

HSBC CHAPS payments

HSBC stopped charging fees for CHAPS payments from 4 November 2025, so you can make CHAPS transfers for free⁵.

You can initiate a CHAPS payment either in branch, by telephone, or by post⁵. HSBC CHAPS transfers aren't capped.

HSBC also doesn’t clearly state a fixed cut-off time for CHAPS payments. To avoid delays, submit your request within standard banking hours (9:00am to 4:00pm) and confirm the exact deadline with the bank before initiating time-sensitive transfers.

Nationwide CHAPS payments

Nationwide charges a lower fixed fee of £15 per CHAPS transfer. You can initiate a payment in branch, through internet banking, or via a third party using Open Banking⁶.

The cut-off time for CHAPS payments is 3pm for both online and in-branch requests. If you submit your payment after 3pm, it will arrive in the recipient’s account on the next working day⁶. If you are making a property or mortgage-related payment online or in branch, Nationwide may request additional details about the transaction⁶.

Nationwide doesn’t explicitly state a maximum transfer limit, except that CHAPS is used for payments above £100,000⁷.

Virgin Money CHAPS payments

Virgin Money charges a fixed fee of £25 per CHAPS transfer. You can initiate a payment by post, in branch, or online, with specific steps required for each channel⁸.

Virgin Money CHAPS payments don't have a maximum transfer limit. Submit your request and all necessary details before 4pm to enjoy same-day settlement⁸.

Barclays CHAPS payments

Barclays charges a fixed £25 fee for each CHAPS payment and £20 to cancel or amend the payment⁹.

You can submit a CHAPS request in branch, by telephone, or online before 5pm. Payments are processed Monday to Friday, apart from bank holidays and weekends, as any request made on such days will be sent on the next working day⁹.

Barclays doesn't state a transfer limit for CHAPS payments. Additionally, if you are a Barclays Wealth customer, you’ll need to complete an extra confirmation step before the payment is released⁹.

Halifax CHAPS payments

Halifax charges a fixed £25 fee for each CHAPS payment. You can only request payments in branch¹⁰.

There is no formal upper transfer limit. However, Halifax states that payments above £250,000 should be sent using CHAPS¹⁰.

To receive same-day processing, you must submit your request before 4:25pm on a working day, as any request made after this time, or on a non-working day, will be processed on the next working day¹⁰.

Lloyds CHAPS payments

Lloyds charges a fixed £25 fee for each CHAPS payment. You can only make a CHAPS transfer in branch¹¹.

There is no upper transfer limit. You'll have to use CHAPS for payments above £250,000.

If you send money to an external account before 4:25pm on a working day, it will arrive the same day. Requests made after 4:25pm, or on a weekend or bank holiday, are processed the next working day. If you are transferring to another Lloyds Banking Group account, same-day arrival is not guaranteed¹¹.

Can you make a CHAPS payment abroad?

CHAPS is strictly for domestic sterling payments within the UK. You can only use it to send GBP between UK bank accounts because it runs on the Bank of England RTGS infrastructure.

If you need to send large payments abroad, you’ll need an international payment method such as SWIFT. Traditional banks such as Santander UK, Virgin Money UK, NatWest and Halifax use correspondent or partner banks overseas to process international transfers. SWIFT payments usually have separate fees and longer processing times.

If you want an easier, more cost-effective way to send high-value international payments, then choose Wise. you can send large payments at the mid-market rate to 140+ countries and in over 40+ currencies. If you send over £20,000, you qualify for a volume discount, reducing your transfer fee.

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Key considerations for making CHAPS payments

Here are a few to help you choose whether CHAPS works for your business or not:

• Transaction speed: If you need to make a large, time-sensitive payment, such as paying a supplier before the close of business, CHAPS guarantees same-day settlement, not instant payment. Instant payments settle within seconds. CHAPS ensures your money arrives the same working day if you send it before the cut-off time. If you miss the cut-off time, it’ll be processed the next working day.
• Transfer limits: There is no upper limit on CHAPS payments. Instead, most banks set a minimum crossover amount that pushes a payment into CHAPS. This makes it useful when you need to move large sums, like property purchases, without splitting the payment into smaller transfers.
• Eligibility: Not all banks can send or receive CHAPS payments. Before you initiate a transfer, confirm that the receiving bank is either a Direct Participant or partner with Direct Participants to process CHAPS payments. You can verify this through the Bank of England payment and settlement information page.
• Non-reversible payment: Once a CHAPS payment has been processed, it cannot be cancelled or reversed. Always double-check the recipient details before authorising the transfer.

Once a CHAPS payment has been processed, it cannot be cancelled or reversed. Always double-check the recipient details before authorising the transfer.

Other payment methods

Depending on your needs, you may consider alternatives such as:

• BACS is low-cost and suitable for bulk payments, but typically takes 3 working days.
• Faster Payments are cheaper and usually near instant, but some banks limit daily payment to £100,000 or £250,000.
• SWIFT is used for international transfers and can take 1 to 5 working days, often with fees comparable to CHAPS.
• Digital money service providers like Wise and Wise Business can be used for both domestic and international payments, with low and transparent fees. See below how much a large transfer will cost you and when it will arrive to the recipient.

Each option serves a different purpose. The right choice depends on the value, urgency and destination of your payment.

Send large transfers the smarter way, with Wise

CHAPS remains a solid option for guaranteed same-day large sterling payments within the UK, especially if you're only sending large lump sums as a one-off.

However, as the majority of UK bank providers add a charge of around £15-25 per CHAPS transfer, these costs add up when you need to send large volumes more regularly. For example, you're making regular large investments or your business expands and outgoings increase. In this case, a more cost-efficient option like Wise or Wise Business might be more suitable.

Fees are low and transparent, with discounts for sending large amounts. The more you send, the more you save. What’s more, you’re guaranteed the mid-market exchange rate on all currency conversions, which could save you a considerable sum on large transfers compared to using a bank.

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Investments can fluctuate, and your capital is at risk. Interest is offered by Wise Assets UK Ltd, a subsidiary of Wise Payments Ltd. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you're uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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*Disclaimer: The UK Wise Business pricing structure is changing with effect from 26/11/2025 date. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QuickPay QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.

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Sources

1. RTGS CHAPS Fees - Bank of England
2. CHAPS - Bank of England
3. CHAPS Payment - Santander Bank
4. How Can I Make a CHAPS Payment? - NatWest Bank
5. What is a CHAPS Payment? - HSBC Bank
6. Making Payments With CHAPS? - Nationwide Bank
7. Transfer Limits and Timescales - Nationwide Bank
8. CHAPS - Virgin Money Bank
9. Mobile Banking - Barclays Bank
10. Pay by CHAPS - Halifax Bank
11. Pay by CHAPS - Lloyds Bank

Sources last checked: 18-Feb-2026