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CHAPS payments

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 in your name up to the value of £1,000,000.
  • 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 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. The value and time limitation are as stated in the section above.

How to request a CHAPS payment for branch accounts:

Over the phone

You can request a CHAPS payment to a nominated account in your name as long as you've set up telephone access.

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

Alternatively request a Faster Payment

You can withdraw up to £100,000 to your nominated account. Find out more on our Faster Payments page.

Faster Payments

You're protected up to £85,000

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money

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To help maintain service and quality, some telephone calls may be recorded and monitored.

Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice.
Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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