Most organisations benefit from paying salaries or wages by Bacs Direct
Credit – in fact almost 90% of the UK workforce is paid this way. However, there
are a wide variety of other applications, where Bacs Direct Credit is the most
cost-effective solution, for example, supplier payments, pensions, employee
expenses, insurance settlements, dividends and refunds.
What are the benefits of Bacs Direct Credit?
Saves time and administration costs
Preparing,
checking and collating cheques with the relevant remittance advice is a time
consuming task. With Bacs Direct Credit the creation and authorisation of a
payment file is a simple and inexpensive process.
Improved
cashflow management
Make your money work for you up to the last
minute by knowing exactly when funds will leave your account.
Direct cost savings
With Bacs Direct Credit the use
of cheques is eliminated, removing the cost of cheque stationery and reducing
postage costs.
Cut down on reconciliation
Bacs
Direct Credit generates just a single debit from your account on a specified
date, eliminating the need to track individual payments.
Better
payment terms
Negotiate more favourable payment terms by paying
more efficiently.
Start using Bacs Direct Credit payments for all your
payments.