Bank of England Faces 'Global Payments Issue' Impacting CHAPS

The Bank of England announced a 'global payments issue' impacting its CHAPS service, causing delays in high-value, time-sensitive payments including house purchases. Efforts with third-party suppliers and authorities are underway to resolve the issue. Retail payment systems and cash machines remain unaffected.

The Bank of England announced on Thursday that a 'global payments issue' was impacting its CHAPS service, causing delays in high-value and time-sensitive payments, including some house purchases.

'We are mindful of the impact this is likely to have and are working closely with a third-party supplier, industry, and other authorities to resolve the issue as promptly as possible,' it stated.

Retail payment systems and cash machines remain unaffected, the Bank added.