Bank of England's Road to Near 24x7 CHAPS Settlement Hours
The UK's wholesale payment rail is on a decade-long path to near-continuous operation. The Bank of England's consultation on the next phases closes today, and the timetable it puts on the record runs out to 2031.
August 10th, 2026
Last updated: August 10
Key takeaways
- The Bank of England's consultation on extending RTGS and CHAPS settlement hours closes on 10 August 2026.
- From September 2027, CHAPS settlement opens at 01:30 instead of 06:00, giving a 16.5-hour weekday window.
- A weekend settlement day, most likely Sunday, plus certain bank holidays, is proposed for no earlier than 2029.
- Longer hours on existing settlement days would follow no earlier than 2031.
- Long-term, the Bank is consulting on near-continuous operation at either 22x7 or 23.5x7.
Data highlight
16.5hours
CHAPS daily settlement window from September 2027
From September 2027 (announced February 2026)
Window as stated by the Bank of England: CHAPS settlement from 01:30 to 18:00, Monday to Friday, effective September 2027 and subject to final confirmation of timelines with affected CHAPS direct participants. The 01:30 opening is 4.5 hours earlier than the current 06:00 opening. Excludes the later weekend and extended-hours phases, which carry earliest-possible dates rather than commitments.
The Bank of England's consultation on extending RTGS and CHAPS settlement hours closes today, 10 August 2026. Published on 18 May, it sets out how the UK's high-value payment system moves from weekday-only operation towards near 24x7 settlement — and, unusually for a consultation, it puts dated milestones on the record.
What has already been decided
One phase is no longer up for consultation. From September 2027, CHAPS settlement opens at 01:30 instead of 06:00, Monday to Friday, giving a 16.5-hour settlement window from 01:30 to 18:00. That start time is 4.5 hours earlier than today's, and it is subject to final confirmation of timelines with affected CHAPS direct participants.
The roadmap out to 2031
The consultation covers what comes after that. Two further phases are proposed, each with an earliest-possible date rather than a commitment:
Phase | What changes | Earliest |
|---|---|---|
Decided | CHAPS opens 01:30 instead of 06:00, Monday to Friday — a 16.5-hour window | September 2027 |
Next phase | Adds a weekend settlement day, most likely Sunday, plus certain bank holidays, 01:30–18:00 | Not before 2029 |
Following phase | Lengthens the settlement window on existing settlement days | Not before 2031 |
Long-term | Near-continuous operation — the Bank is consulting on 22x7 versus 23.5x7 | No date given |
Taken together, the shorter-term steps would put RTGS on a 22x6 footing, providing CHAPS settlement for 22 hours a day from Sunday to Friday, with participants able to move liquidity between their own accounts on Saturdays outside scheduled change windows.
Why the Bank is doing this
The stated aim is to keep UK payment systems aligned with technology developments and able to support emerging forms of money, including tokenised deposits and stablecoins. The Bank has also said weekend and bank holiday settlement offers greater risk reduction benefits and greater potential to support innovation than simply lengthening existing weekdays.
What it means for firms moving money into and out of the UK
Nothing changes before September 2027, and the later phases carry no firm date. But the direction is now documented rather than aspirational, which makes it something treasury and operations teams can plan against rather than react to.
The practical consequence is that sterling settlement stops being a weekday-daytime constraint in stages. Payment runs, funding cycles and cut-off times built around a 06:00 open will need revisiting in 2027; anything built around the assumption that sterling does not settle at weekends has a longer, but finite, shelf life.
How to cite
HaiPay News, "Bank of England's Road to Near 24x7 CHAPS Settlement Hours", https://www.haipay.net/news/boe-rtgs-chaps-near-24x7-settlement-roadmap, August 10th, 2026
About the author
Crystal
Digital Public Relations
A digital PR specialist with a Master's in Journalism & Communication from UNSW. Started as an intern at ABC Australia, now leads public relations at Haipay, crafting press releases and media strategies that bring brand stories to life.
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