CHAPS, FPS, and BACS

CHAPS (same-day sterling), FPS (Faster Payments—instant sterling), and BACS (batch sterling) are the UK's core payment schemes. Access requires a UK bank or FCA-authorized EMI with direct scheme membership. VeriRail provides access to UK Tier 1 Rails including FPS, CHAPS, and BACS via FCA-Authorized EMIs—so you can send and receive GBP without building scheme connectivity yourself.