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What Banking Payments does offer?

At, the payment types we off we offer are: Faster Payments, CHAPS and SEPA, with SWIFT soon to be available.



CHAPs is an automated payment system, enabling Quaife customers to make same-day payments within the UK, on a Real Time Gross Settlement (RTGS) basis provided valid payment instructions are received prior to 17:00. CHAPS can be used for very large payment amounts with certainty of settlement.

Quaife’s connection to the CHAPS central infrastructure allows you to send and receive payments that settled directly with the Bank of England.



Faster Payments Service (FPS) was launched in 2008. It was developed to create a near real-time 24/7, payments service that would enable a vibrant and globally competitive UK economy. It provides an easy to use infrastructure.

Our connection to the FPS central infrastructure allows you to send and receive payments of up to £250,000, 24 hours a day, seven days a week.



The single euro payments area (SEPA) harmonises the way cashless euro payments are made across Europe. It allows European consumers, businesses and public administrations to make and receive the following types of transactions under the same basic conditions

This makes all cross-border electronic payments in euro as easy as domestic payments.

SEPA covers the whole of the EU. It also applies to payments in euros in other European countries: Iceland, Norway, Switzerland, Liechtenstein, Monaco and San Marino.



Banks around the world needed a consistent, universal way to get money from one country to another. The SWIFT network became that answer. SWIFT provides a secure network that allows more than 10,000 financial institutions in 212 different countries to send and receive information about financial transactions to each other.

If you’re sending money through SWIFT, it can be quite pricey, especially for smaller amounts of money and, as noted, if your SWIFT transaction will need to go through intermediary banks, each of them normally will levy their own fee.


Please refer to our website for more information here.

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