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Automated payments are at the very centre of the UK’s financial system, providing an essential service for both consumers and organisations.


Bacs is the company which runs Direct Debit in the UK. We also run the Bacs Direct Credit Scheme, which is used to pay salaries and settle invoices from suppliers; this is commonly referred to just as Bacs.

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 www.wearepay.uk​.​​​​

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@BacsUK
11 December 2018 09:18 AM
Latest @BacsUK figures show late payment crisis worsening on many fronts. Staggering 1 in 10 small firms now hiring a member of staff to chase overdue invoices https://t.co/gIaOb3WEEj
 
10 December 2018 16:09 PM
Cost of collecting late payments rockets: The UK’s smallest businesses are facing a bill of £6.7bn, up from £2.6bn in 2017 – just to collect money they’re already owed, according to research by Bacs Payment Schemes Limited (Bacs)... https://t.co/JcKwYinHoa
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10 common Confirmation of Payee questions answered
11 December 2018
Pay.UK created and owns the technical specifications for the new service, and Brian Cunnington – Confirmation of Payee project manager - answers some common customer and stakeholder questions, as well as sharing what’s next.
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