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AUTOMATED CLEARING SYSTEMS
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1. CHIPS (Clearing House Inter Bank Payment System)

The CHIPS started operating in 1970, run by new york clearing house , the world's premier system for transfer of payments internationally.
The settlement of payments carried on CHIPS is done through federal reserve bank. the CHIPS have a direct interface with the SWIFT system.

2. CHAPS (Clearing House Automated Payment System )

The CHAPS system set up in the UK (united kingdom ) almost instantaneous service for settlement of payments and the payments are guaranteed on receipt and cannot be recalled.
The CHAPS system allows direct transmission from SWIFT system.CHAPS network protects the high value payment and the messages by passing it through encryption and authentication techniques.

3. CHATS (Clearing House Automated Transfer System )

CHATS provide the inter bank funds transfer facilities in HONG KONG, which has long been regarded as the Hub of financial activities the world over.CHATS provide same day inter bank settlement ,instant online confirmation and inquiry facilities
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