Routing & Clearing
By Ohmyfin Organisation Editorial Team · Published 2026-05-19 · Updated 2026-05-22
CHAPS is the UK's real-time gross settlement system for high-value GBP payments. It runs from 06:00 to 18:00 London time. But each bank applies its own customer cut-off, several hours earlier than the network closes.
The CHAPS network itself closes for new payment instructions at 17:40 London time. Settlement processes until 18:00. After 18:00, no further CHAPS payments settle that day; they roll to the next business day.
Bank customer cut-offs are stricter. Typical retail bank cut-offs in 2026: HSBC UK 16:00, Barclays 16:30, Lloyds 16:00, NatWest 16:30, Santander 15:30, Nationwide 14:30. Corporate banking customers usually get later cut-offs (16:45-17:00).
Payment Located
SWIFT GPI Network · Real-time status
Payment Not Found
No record found in SWIFT GPI or any correspondent banking data
Fraud Awareness Notice
If you received a payment document from a third party, verify directly with your own bank before releasing goods or funds. Fake MT103 / pacs.008 confirmations are widely used in advance-fee scams. See our fraud guide →
Monitor for 7 Days — Free
We re-check every few hours and notify you the instant this payment appears — no account, no spam.
Watching — we'll email you the moment it appears.
Not sure what to do next?
Ask SwiftMate, our SWIFT assistant, for guidance on payment delays, rejections, and next steps.
Payments can appear hours after initiation — try again later
For payments instructed online after the bank's cut-off, the wire is queued and sent at the next business day's opening. The value date in field 32A will reflect the next business day.
Cross-border inbound GBP via SWIFT: when an MT103 in GBP arrives at a UK correspondent, the correspondent uses CHAPS to deliver to the beneficiary bank. Same cut-offs apply — inbound after 16:00 typically credits next day.
CHAPS does not operate weekends or English/Welsh bank holidays. (Scottish-only holidays do not stop CHAPS.) For urgent weekend/holiday GBP, banks must use Faster Payments (per-payment limit 1M GBP in 2026).
For tracking via Ohmyfin, the GPI status flips to ACSC once the UK beneficiary bank credits the account — which on a busy CHAPS day can be 30-90 minutes after the SWIFT MT103 arrives at the UK correspondent.
Key takeaways
CHAPS network: 06:00 to 17:40 London (settlement until 18:00).
Retail bank cut-offs typically 16:00-16:30.
Corporate banking cut-offs: 16:45-17:00.
Weekends and English/Welsh bank holidays: closed.
Urgent weekend GBP: Faster Payments (≤1M GBP).
Frequently asked questions
What if I send GBP from Asia at 23:00 local time?
Your MT103 arrives at the UK correspondent in the middle of the UK night. CHAPS opens at 06:00 GMT and your payment settles that morning.
Is CHAPS being replaced?
The Bank of England renewed CHAPS infrastructure in 2024 with a new RTGS platform on ISO 20022. CHAPS itself continues.
Does CHAPS support GPI?
CHAPS is a domestic system. Inbound cross-border GBP flows over SWIFT GPI to the UK correspondent, then CHAPS for the UK leg. GPI status at the UK correspondent reflects the CHAPS hand-off.
What about Faster Payments?
Faster Payments handles smaller GBP (≤1M per transaction in 2026) and is instant 24/7. Cross-border GBP via SWIFT does not use Faster Payments.
Payment Located
SWIFT GPI Network · Real-time status
Payment Not Found
No record found in SWIFT GPI or any correspondent banking data
Fraud Awareness Notice
If you received a payment document from a third party, verify directly with your own bank before releasing goods or funds. Fake MT103 / pacs.008 confirmations are widely used in advance-fee scams. See our fraud guide →
Monitor for 7 Days — Free
We re-check every few hours and notify you the instant this payment appears — no account, no spam.
Watching — we'll email you the moment it appears.
Not sure what to do next?
Ask SwiftMate, our SWIFT assistant, for guidance on payment delays, rejections, and next steps.
Payments can appear hours after initiation — try again later