List of lenders with CHAPS transfer facility
- 1 Month Loan
- Lending stream
- Money in Advance
- Micro Lend
- One Month Loan
- Quick Quid
- Swift Money
- Uncle Buck
- Wage Day Advance
- Get matched with lenders with CHAPS transfer facility and receive instant cash@ Payday Financial
CHAPS is an inter bank method of payment within the UK which guarantees same day clearing of fund if they have been done before 3 PM on a working day. As opposed to BACS which takes three days to clear, CHAPS are much faster as well as costlier. Most payday lenders in UK allow the option of CHAPS transfer to their customers. However, in order to clear funds using CHAPS, they are required to pay their banks a certain amount of money. Most lenders transfer these charges to their customers. Typically CHAPS charges range from 10-20 pounds. Note that it is illegal for lenders to make money in the name of CHAPS transfer of funds. If a certain lender charges an excessive amount, customers can always complain at the Office of Fair Trade (OFT).
Also, the time deadline for CHAPS transfer may vary from lender to lender. Customers are advised to be cautious of the time deadline mentioned on lender's website.
