Also known by the acronym CHAPS, the Clearing House Automated Payment System is a UK British Pound Sterling and Euro clearing platform for Forex trades.
It facilitates transfers for clients within three hours. Pretty much every bank doing legitimate financial business of any kind of an international nature uses CHAPS.
The average fee for a transfer is £25- £30 per transaction. Given that other payment systems facilitate within minutes, you know that any movie containing a scene where characters watch a computer screen as money is transferred, supposedly using CHAPS...was obviously written by someone who pulled the name off of Google without doing any research.
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