When might this service be used?
There are a number of circumstances in which an organisation may find BPRS of value, including:
- Where a business which is too large to take advantage of CASS moves from one PSP to another;
- In the event of an organisation merging with, or being taken over by, another organisation
resulting in a change of account details;
- PSP branch closures where payments continue to be made to a customer’s old branch account details;
- Where PSPs move from one sponsoring PSP to another, or set up in their own right;
How it works
Should an organisation wish to utilise BPRS, they should first contact either their new PSP or Bacs to discuss their requirements. As long as both the old or new PSP have signed an agreement with Bacs to access BPRS , then it can be used to make the whole process quick and easy.
In simple terms, the details of the old and new account details are added to the central redirection
database as part of a controlled implementation. This means that if a payment is made using the
previous sort code and account details it will be automatically redirected to the new account.
There is no costly back office function, or additional resource required to deal with ongoing
administrative overheads. The process is straightforward, efficient and effective, providing the
peace-of- mind that a change in account details won’t interrupt critical business payments.
For more information please talk to your PSP or contact us.