CHAPS vs BACS vs Faster Payments — How Will I Get Paid?
Most providers offer CHAPS (same day, £15-25 fee), Faster Payments (same day, free or low cost), or BACS (next working day, usually free). For urgent drawdowns, CHAPS guarantees same-day arrival. For routine weekly funding, Faster Payments or BACS is sufficient and cheaper.
OM
Oliver Mackman
Director, Market Invoice
Oliver leads Market Invoice's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.
Last reviewed: 6 April 2026