CHAPS Payments
in United Kingdom
Bank of England same-day high-value GBP wire for large contractor payments.
CHAPS in United Kingdom
British Pound · GBP
Contractor must provide IBAN or sort code and account number.
Payment Journey
You fund in USD, stablecoin, or BTC — your contractor in United Kingdom chooses how they receive it.
Fund your Bitwage Balance
USD via wire/ACH/FedNow, stablecoin (USDC/USDT), or BTC. Fund once — use for all payments.
Create a payment run
Add your United Kingdom contractor(s) to a batch or individual payment. Set the amount in USD — Bitwage handles everything else.
Converts & delivers via CHAPS
FX rate locks at approval. Bitwage converts USD → local currency and routes the payment via CHAPS. Compliance screened automatically.
Funds arrive via CHAPS
Settlement: Same day. Fees: 0.3–0.8%. Contractor can also choose USDC, USDT, or Bitcoin instead — they set their preference once.
How CHAPS Works in United Kingdom
Bitwage submits a CHAPS instruction via the Bank of England's RTGS system. Settlement is guaranteed same day when submitted before the 5 PM GMT cut-off.
Compliance & Security
UK contractors (including IR35 contractors) must register as self-employed with HMRC and submit self-assessment returns. Bitwage performs OFAC and UK HMT sanctions screening on every payment.
GBP is one of the most liquid currencies. Bitwage locks the USD/GBP rate at execution. Post-Brexit, GBP has seen increased volatility, making rate-lock especially valuable for recurring payroll.
Other Payment Methods in United Kingdom
CHAPS in United Kingdom FAQ
Common questions about CHAPS payments, settlement, fees, and requirements.
CHAPS payments to United Kingdom typically settle in Same day. Bitwage locks your FX rate lock at execution time so recipients receive exactly the amount shown in the payment preview.
Bitwage charges 0.3–0.8% for CHAPS payments to United Kingdom. There are no hidden per-transfer fees beyond the displayed rate. You can see the full cost breakdown before executing via our {{link:products/contractor-payments}} platform.
Contractor must provide IBAN or sort code and account number. Bitwage validates all payment details before executing. For batch payments to multiple contractors, use {{link:products/masspay}} to upload a CSV with all recipient details at once.
Yes. With {{link:products/masspay}} you can include any number of United Kingdom-based contractors in a single payment run, mixing CHAPS with other local rails. All FX conversions are locked at batch payment processing execution time.
Start Sending CHAPS Payments to United Kingdom
Settlement in Same day. Fees from 0.3–0.8%. OFAC screened on every payment.