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News Centre

The latest press releases, news, videos, photos and payments information from Bacs, the organisation behind Direct Debit.

Bacs Payment Schemes Limited is a wholly owned subsidiary of Pay.UK

The systemically important operations for Direct Debit and Bacs Direct Credit as well as the Current Account Switch Service, Cash ISA Transfer Service, and the Industry Sort Code Directory are owned and operated by leading UK retail payments authority, Pay.UK. 

Pay.UK has taken overall responsibility for the activities previously carried out by Bacs Payment Schemes Limited, Faster Payments Scheme Limited, The Cheque & Credit Clearing Company Limited, and UK Payments Administration Ltd. While now part of Pay.UK, the Bacs team will continue to manage the company’s  products and services as normal. Neither consumers, service users, nor payment service providers (PSPs) will see any change. For further information, please visit​.​​​​

Press releases
Industry teams join Pay.UK
01 March 2019
​Pay.UK is the new home for Bacs, Faster Payments, and Cheque and Credit Clearing and, as of today (1 March) it is also the formal home of their people, a skilled team with a wealth of experience across the UK’s complex payments industry.
Latest Current Account Switch Service figures published
30 January 2019
The latest figures for the Current Account Switch Service are published today (30 January), showing that over 5.3 million (5,381,216) successful switches have taken place since the service launched in 2013.

14 March 2019 09:23 AM
Hammond announces crackdown on late payments to small businesses via @financialtimes
12 March 2019 13:25 PM
An exciting future for #payments in the UK, plus a record-breaking 2018 for @BacsUK are among the topics discussed by @WeArePayUK CEO, Paul Horlock, in our blog. Read it, here:

Bacs briefing
Building on strong foundations21 February 2019READ NOW
Bacs’ Bulk Payment Redirection Service: could your or...14 February 2019READ MORE
Travel firms increasingly turning to Direct Debit18 December 2018READ NOW

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