The Bank of England’s same-day sterling high-value payment system.
Why the distinction matters
Use the system timetable together with the customer’s bank deadline. The customer bank may require an instruction earlier than the system cut-off. Funding, approvals and exception handling belong in the operating plan.
In the working file
Illustrative example
A treasury payment is approved after the bank’s customer cut-off. A later system deadline does not make that instruction timely.
Use the term in context
Record the legal entity, activity, period and applicable source alongside the term. A familiar label does not remove the need to establish scope. Our operating playbook connects this definition to a practical process.
Read the related playbookSources & scope
Primary sources used for this research edition. Document dates and commencement dates are different fields. Recheck the issuing authority before acting.
- Bank of England: CHAPSScheme information · source reviewed 12 November 2026
- Bank of England: Summary of RTGS daily timetableOperating timetable · source reviewed 12 November 2026