Bank of England Faces 'Global Payments Issue' Impacting CHAPS

The Bank of England announced a 'global payments issue' impacting its CHAPS service, causing delays in high-value, time-sensitive payments including house purchases. Efforts with third-party suppliers and authorities are underway to resolve the issue. Retail payment systems and cash machines remain unaffected.

The Bank of England announced on Thursday that a 'global payments issue' was impacting its CHAPS service, causing delays in high-value and time-sensitive payments, including some house purchases.

'We are mindful of the impact this is likely to have and are working closely with a third-party supplier, industry, and other authorities to resolve the issue as promptly as possible,' it stated.

Retail payment systems and cash machines remain unaffected, the Bank added.

(With inputs from agencies.)