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What type of standard domestic payments are there?


Standard domestic payments can be sent as a CHAPS or as a Faster Payment.

Faster Payments is the UK's payment service for immediate payments up to £1 million.

CHAPS is the UK's electronic same-day settlement network for commercial and inter-bank payments.

If you would like help deciding which payment type is most suitable for you please see What is the difference between Faster Payment and CHAPS?

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