What is BACS?
BACS payments can be used to pay or receive money. BACS payments are subject to a three day processing cycle and are used by many businesses to process planned payments, or regular payments such as payroll.
BACS Direct Credits are used to pay suppliers, payroll and other listed payments. BACS Direct Debits are used to collect money from a payee.
Autopay Online and Autopay Online Plus cater for your BACS payment needs, allowing you to make and manage payments, and access BACS reports, all via the Autopay Online platforms.
Why use BACS?
There are number of reasons to use BACS:
- Cost effective solution for a high volume of transactions
- Enables you to lock down file details and keeps sensitive information safe
- Effective way to make bulk payments using Direct Credits
- Enables the collection of Direct Debits (Autopay Online + only)