House payments affected by 'global payments issue' says Bank of England

The Bank of England (BoE) has said a "global payments issue" is delaying some high-value transactions including house sales.

The central bank said it was "mindful of the impact this is likely to have" and was working with other organisations to resolve the issue urgently.

The Bank's Clearing House Automated Payment System (Chaps) payment system processes hundreds of billions of pounds worth of transactions a day, such as banks paying one another large sums.

"A global payments issue is affecting the Bank's CHAPS service and delaying some high value and time-sensitive payments, including some house purchases," the bank said.

"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.

"Retail payment systems are unaffected so people and businesses can continue to use cash points, card payments and bank transfers as normal."

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know...