What Does BACS Stand For?


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Anonymous Profile
Anonymous answered
Banks Automated Clearing System
donna jackson Profile
donna jackson answered
BACS is a payment system similar to direct debit systems, BA CS has been at the centre of the payments industry, for many years, providing world leading electronic payment services that deliver greater efficiency and economy to banks and businesses. - it was started increase convenience and 'peace of mind' to tens of millions of consumers
BACS Payment Schemes Limited (BACS) is a not for profit, membership based, industry body.
The two services it provides, Direct Debit and BACS Direct Credit, give consumers safe and efficient payments.
BACS processes about 5.5 billion payments a year, with over 80 million on a peak day.
The systems are constantly reviewed to keep them efficient, and up to date.

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