Bacs approved bureau - a commercial bureau awarded approved status by Bacs
An organisation and a system for transferring money to and from UK bank accounts. Mainly used for business to business payments and collections. It also manages the Direct Debit Scheme.
The three day cycle (minimum three English bank working days) taken for a payment instruction to be submitted to Bacs for processing and the time it reaches the destination account. The processing cycle has the following stages: arrival, input, processing and entry.
Bacs Direct Credit
Direct Credit is a simple, secure and reliable service, which enables both large and small organisations to make payments by electronic transfer directly into a bank or building society account. It is mainly used for paying wages and salaries.
Delivered via Bacs to provide business critical data in a standardised format for reintegration with 3rd party applications or provision in a readable format:
- ADDACS - Automated Direct Debit Amendment and Cancellation Service
report is available to be viewed and downloaded from the Bacs web channel.
The service enabling Direct Debit Instructions (DDIs), the message to set up a new direct debit to be transferred electronically from service users to the Paying Banks and building societies via the Bacs service.Read more on AUDDIS »
If a Direct Credit has incorrect account destination details the receiving bank will try to locate the correct account and advise the originating organisation of the details. The AWACS is the automated system used by the banks to notify the organisation of the correct details to be used for future payments. A notification will be emailed when the report is available to be viewed and downloaded from the Bacs web channel.
Bacs payment services website
A secure website for service users to download reports, view submission information and manage PSC's and Additional contacts.
A service which employs Internet Protocol combined with PKI security to access the Bacs 3 day service. May be accessed using either the Payment Services website or Bacs approved software. The service is used for submissions to Bacs, for report collection and administration of user data.
BASS - Bacs Approved Software ServiceSource: www.albany.co.uk