The Company's strategy for membership is to make the criteria open and transparent, with a fair pricing strategy. The Company welcomes membership requests so please contact us.

To be eligible for membership, a financial institution must:

• hold a sterling and/or euro settlement account at the Bank of England which the Bank has agreed may be used for the purpose of settling CHAPS payment obligations;
• be a participant which falls within the definition of 'participant' in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999.
• have the ability to comply on a continuous basis with the technical and operational requirements of the CHAPS systems as set out in the Reference Documents from time to time;
• be a shareholder of the Company; and
• pay a single entrance fee as determined by the Board from time to time when first becoming a member of any CHAPS systems or for existing members of a CHAPS system if they join another CHAPS system. Such entrance fee is to be based on the cost of technical implementation relating to such member.