What is CHIPS?

CHIPS, Clearing House Interbank Payments System, is the premier bank-owned payments system for clearing large value payments. CHIPS is a real-time, final payments system for U.S. dollars that uses bi-lateral and multi-lateral netting for maximum liquidity efficiency. CHIPS is the only large value system in the world that has the capability of carrying extensive remittance information for commercial payments. CHIPS processes over 350,000 payments a day with a gross value of $2 trillion. It is a premier payments platform serving the largest banks from around the world, representing 19 countries world wide.

Over its 37 year history, CHIPS has developed and maintained a reputation of reliability, efficiency and innovation in the marketplace by processing over 95% of the USD cross-border payments. And now, with new value-added features CHIPS is the leading system for all your large value payment needs- both international and domestic.

Why should a bank use CHIPS to process payments?

• Real-time, Multilateral Netting with Payment Finality
• Global Processing Hours
• 96% Straight-through Processing Rate
• Eliminates Daylight Overdraft Charges
• Maximizes Liquidity - $1 turns over 500 times
• Online Management Tools
• Payments on Demand Capability
• Remittance Information Delivery
• Alternative to Fedwire for Contingency Planning
• Universal Identification Numbers (UIDs)

View a demo of CHIPS Online Management Tools