Home payments delayed by ‘global payments issue’

The Bank of England has said a “global payments issue” is delaying some high value and time sensitive payments, including house purchases.

The problems are not believed to have been caused by a cyber incident, according to the BBC.

It reports that the issue relates to a global payments network known as Swift.

In a statement this afternoon it says: “A global payments issue is affecting the Bank’s CHAPS service and delaying some 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.

“If you are concerned about a CHAPS payment you plan to make or receive today, please contact your bank, or other payment service provider.”

The Bank says that retail payment systems are unaffected so people and businesses can continue to use cash points, card payments and bank transfers as normal.

Every day in the UK around 200,000 payments are made via CHAPs worth approximately £363bn.

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