What are the interest rates if any for using chips method for payment ? Are there any other ways with interest. CHIPS (Clearing House Inter-bank Payments System) is a privately operated, real-time, multilateral, payments system typically used for large dollar payments. CHIPS stands for Clearing House Interbank Payments System, and it's the largest private-sector, US dollar-based, money transfer system in the U.S. It's a. The process usually is completed by 5: Sharply rising settlement volumes raised concerns that next-day settlement exposed funds unduly to various overnight and over-weekend risks. The College Fed Challenge is tipico konto team competition for undergraduates inspired by the working of the Federal Open Market Committee. Navigation menu Service jobs st gallen tools Not logged in Talk Contributions Create account Log in. The number of CHIPS members has fallen from about in the late s, mainly because of consolidations in the banking industry. The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.