The Bank of England released a new consultation paper on 29 July 2025, proposing an extension of settlement hours for the recently launched RT2 system and the CHAPS payment service. Under the proposal, CHAPS would open as early as 01:30 on weekdays, with the long-term objective of moving towards near-continuous operation. This adjustment could enable UK banks and payment providers to settle transactions more quickly, potentially reducing withdrawal times for customers using services reliant on these infrastructures. The consultation remains open for feedback until 21 October 2025, with a final policy statement anticipated in early 2026. [Source]
For UK online casino players, extended CHAPS and RT2 settlement windows may result in quicker withdrawals, particularly for larger sums processed via bank transfers. Currently, the CHAPS system operates with limited opening hours, often resulting in delays for high-value payments outside of banking hours. By expanding these hours, the Bank of England aims to enhance the speed and reliability of sterling payments across the sector.
- Key details:
- Proposal to open CHAPS at 01:30 on weekdays
- Long-term goal: near real-time settlement, close to 24/7
- Consultation runs until 21 October 2025
- Policy statement expected early 2026
Victoria Cleland, Executive Director for Payments at the Bank of England, noted: “Extending operating hours for CHAPS is a vital step towards delivering greater flexibility and speed for the UK’s wholesale and retail payment systems.”
RT2, which supports multiple forms of settlements including retail and wholesale payments, was introduced to replace RTGS (Real-Time Gross Settlement) and enable modernisation of the UK’s payment landscape. The consultation paper outlines technical and operational implications, as well as the projected benefits for both providers and end-users.
| Aspect | Current Status | Proposed Change |
|---|---|---|
| CHAPS Opening Hours | 07:00 (weekdays) | 01:30 (weekdays) |
| Withdrawal Speed Impact | Delays possible outside hours | Potential for faster settlement |
| Next Steps | No change | Consultation ends Oct 2025; policy in 2026 |
Casino players seeking faster withdrawals may benefit from monitoring developments around CHAPS and RT2 expansion. For more on withdrawal methods and payment technologies, see our guides to bank transfer withdrawals, Trustly, and e-wallets for online betting. For wider sector updates, refer to our coverage on fast payouts and UKGC policy changes.
