Bank of England plans earlier start for CHAPS interbank payments

The Bank of England has announced today, February 24, 2026, a significant structural change to the United Kingdom GB high-value payment system, revealing that the start time for CHAPS will be moved forward to 1:30 a.m. from its current 6:00 a.m. slot. This adjustment, which is scheduled to take effect in September 2027, is designed to increase the available settlement window for high-value interbank payments across the country.

Under the new policy, the Bank of England aims to provide greater flexibility for financial institutions while maintaining the stability of the existing infrastructure. Although the operating hours are being extended into the early morning, the central bank confirmed that participation in the earlier start time will be optional for banks and other CHAPS participants. This allows individual organizations to determine their own operational readiness and whether they wish to utilize the expanded window based on their specific needs and client demands.