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Businesses urged to plan ahead to avoid missing payments over the Bank Holiday

14.8.2017

​August Bank Holiday (28 August 2017) will soon be here and businesses need to plan ahead
to avoid missing important payment commitments, says Bacs Payment Schemes Limited
(Bacs), the company behind Direct Debit and Bacs Direct Credit in the UK.

As Bank Holidays are non-processing days, payments scheduled to be made on Monday 28
August, such as salaries or payments to suppliers and customers, will not be processed and
business owners and finance teams must ensure that payments are submitted early.

For example, if payments are due in accounts on Tuesday 29 August then the payment
process must begin no later than Thursday 24 August. For payments due to credit accounts
on Wednesday 30 August, then payment files must be submitted no later than Friday 25
August.

The Bacs 2017 and 2018 processing calendars, which show all the public holiday non-
processing days, are available from www.bacs.co.uk/processingcalendar.

For further information contact our press office​.​​​

 

Notes to Editors:

About Bacs:

Bacs has been maintaining the integrity of payment related services since 1968, with responsibility for
the schemes behind the clearing and settlement of UK automated payment methods, Direct Debit
and Bacs Direct Credit, as well as the provision of managed services for third parties, such as the Cash
ISA Transfer Service, and the development, management and subsequent ownership of the Current
Account Switch Service.

More than 120 billion transactions have been debited or credited to British bank accounts via Bacs
since its inception; in 2016, nearly 6.25 billion UK payments were made this way, while a new record
was set on 30 June 2017 with the number of transactions processed by Bacs in a single day reaching a
high of 111.7million.

A not-for- profit entity which has maintained carbon neutral status since 2012, Bacs is a membership
company limited by Guarantee.

For further information please visit www.bacs.co.uk.

More about Direct Debit:

A Direct Debit is an instruction from a customer to their bank or building society authorising an
organisation to collect varying amounts from their account, normally for regular payments for
everything from household bills to charitable donations. Almost nine out of 10 British adults have at
least one Direct Debit commitment, with 73 per cent of household bills paid this way; 62 per cent of
people in GB prefer to pay most bills by Direct Debit, and the number of people who feel positively
towards Direct Debit reached 77 per cent in 2016. Over 4 billion Direct Debits were processed in
2016, and Direct Debit payments are protected by the Direct Debit Guarantee, a money back
consumer safeguard.

For more information about Direct Debit, visit www.directdebit.co.uk.