Friday, 07:34, 12 February 2016

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Bacs services


Since its inception, over 110 billion transactions have been debited or credited to British bank accounts via Bacs. In 2015, 6 billion UK payments were made this way.

Nearly 3.9 billion Direct Debit payments are processed by Bacs a year and 89 per cent of British adults have at least one Direct Debit commitment.

Nearly 90 per cent of the UK workforce is paid via Bacs Direct Credit, while it is also the payment method of choice for a range of other applications such as pension payments, employee expenses, insurance settlements, dividends and refunds.

The success of Bacs is based on its ability to improve upon technology for the benefit of banks, businesses and consumers.


© Bacs Payment Schemes Limited 2016