CHAPS vs faster payments

[niggtv]

Hi, I'm buying a car next Wednesday - it's a cash private sale for £45k. I'm with Co-operative Bank and their faster payments limit is £100k. I've already called them in advance, and they've said "usually instant, but may be delayed up to 6pm the following day". I'll be phoning them up rather than doing it online, and can deal with a couple of hours delay, but not a 24+ hours delay, as I have a 300 mile journey to complete.

They've suggested CHAPS @ £25. Is CHAPS the same system as faster payments? I'm just trying to decide if it's worth paying the £25....it's not much in the context of the payment, but I'd still rather not pay it if I don't need to!

Thanks in advance.

[niggtv]

Thanks both - and good tip re sending a small amount now.