Changes to fees for Protected Payments System (PPS) services

Members are advised that with effect from 1 April 2013, all UK and US banks offering the PPS* service will be charging LCH.Clearnet Ltd for transaction costs relating to all PPS call/pays.  As a consequence, LCH.Clearnet Ltd intends to pass these charges on to members.

We will advise members on the revised fees associated with their specific banks in due course, as fees will vary from bank to bank.

Please ensure that this information is circulated to the relevant area within your organisation.

*PPS is LCH.Clearnet Limited’s direct debit system for the transfer of funds to and from clearing members.