Advice of Wrong Account for Automated Credits Service
AWACS is a fast and efficient electronic messaging service allowing payment service providers (PSP) to notify service users of any changes to a Bacs Direct Credit payment, providing them with the information needed to help maintain their payments database. For example:
- When the incorrect beneficiary account details are supplied with the payment and the receiving PSP is able to identify the correct account
- When an account has been transferred to a new PSP using the Current Account Switch Service or Bulk Payment Redirection Service
How it works
Changes are passed on to service users electronically via the Bacs service using AWACS advices, speeding up the process and improving accuracy for notification of incorrect account details for Bacs Direct Credit payments. These AWACS advices are made available in the form of reports.
There are two ways in which you can receive AWACS reports:
- Automatic updates
- Manual updates.
There are a number of benefits to receiving AWACS advices directly to your system:
- A streamlined process ensuring the information is provided to you in a consolidated and consistent way eliminating errors caused by manual input
- No additional administrative costs associated with keying them in or delays caused by printing reports. You can simply feed the information directly into your database
- Speedy notification of correct account destination details resulting in amendments being received in time to ensure payment accuracy.
Getting started receiving automatic updates
To take advantage of automatic updates to your payment system may require you to make some changes to your accounts or payroll systems. Your software supplier will be happy to advise you.
Collecting AWACS reports manually means you are unable to take advantage of the benefits of the automated option, however manual processes still enable you to keep your records up to date.
But it is important that you act on the advices contained in the reports in a timely manner. This means that you will remain compliant in accordance with the Bacs Direct Credit Scheme Rules and will help you to avoid having to deal with matters such as failed or incorrect payments, things that are likely to be time consuming and lead to customer complaints.
Taking manual updates requires you to access your reports manually via the Payment Services Website or your Bacstel-IP software.
Action on the information contained in AWACS advices must be taken within 3 working days of the advice being made available, however it is strongly recommended that changes are applied immediately. You can set up email notifications to advise you when a report is available to ensure they are not missed.
It is essential that you act on AWACS advices promptly to ensure your payment records are kept up to date.