What is the main topic?

The Bank of England will bring forward CHAPS settlement to a 1:30am start from September 2027. The early-hours window is optional for banks and forms part of a roadmap toward near 24/7 operations.

When do the new hours begin and who must participate?

The new start time takes effect from September 2027. Participation in the 1:30am–6:00am window is optional for CHAPS direct participants, though incoming payments may still be received.

Will evening settlement be extended?

Not for now. The BoE is prioritizing the earlier start and will consider evening extensions later as it advances longer-term plans for near round-the-clock settlement.

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Finance

Bank of England increases hours for CHAPS interbank payments

Published by Global Banking & Finance Review®

Posted on February 24, 2026

1 min read

Last updated: February 24, 2026

Bank of England increases hours for CHAPS interbank payments - Finance news and analysis from Global Banking & Finance Review

Bank of England increases hours for CHAPS interbank payments

Quick Summary

Bank of England Moves CHAPS Start to 1:30 a.m., Extends Operating Day

Earlier Start to 1:30 a.m.

CHAPS Operating Hours Update

Evening Settlement Deferred

Optional Participation for Banks

Report Credits

Key Takeaways

Frequently Asked Questions about Bank of England increases hours for CHAPS interbank payments