Automated payments are integral to the UK financial system, the backbone of which are the Bacs Direct Credit and Direct Debit Schemes.
There are more than 150,000 organisations in the UK using Bacs Direct Credit; it has been widely adopted to pay benefits, wages and salaries, as well as supplier payments. On top of this, 9 out of 10 British adults have at least one Direct Debit commitment and 73% of household bills are paid this way. A Direct Bacs solution is the most efficient way of connecting to the Bacs network and offers a wealth of advantages for your business.
Considering moving to a direct Bacs solution but unsure what’s involved? Our handy Bacs 2 Basics guide breaks the process down into 6 easy steps to help you get started and reap the benefits of processing your payments and collections using Bacstel-IP.