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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​.​​​​

News centre
News centre
PRESS RELEASE Latest figures reveal over five million accounts have been switched since launch of Current Account Switch Service
24 October 2018
The latest figures for the Current Account Switch Service show that over 5.1 million (5,145,568) successful switches have taken place since the service launched in 2013.
@BacsUK
14 November 2018 10:06 AM
Did you know that on our record day Bacs processed 114 million #payments? The milestone was set in August this year, beating the previous record by more than two million transactions! https://t.co/KjuJmQzqR8
 
13 November 2018 16:21 PM
Call for interest - contribute to our project to develop an ‘Enhanced Data’ capability as part of the New Payments Architecture. To find out more, and complete the questionnaire visit https://t.co/SPwjrS2jjY https://t.co/D6WoCL3sdJ
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Marking five years of the Current Account Switch Service
21 September 2018
This week we’ve been marking the fifth anniversary of the Current Account Switch Service with a range of activity, alongside our industry partners.
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