The BACS system is a secure and automated way to pay your staff and is the basis of the majority of money transfers in the UK. It is extremely easy ,safe and and an efficient and timely way to pay your employees, suppliers and providers directly into their bank account.
BACS avoids the need to write cheques and allows the flexibility to make payments much later in the business day, one of its many benefits.
It does not require any expensive hardware or software.
Once you sign up for a Bacs only service,all you will need to send to us is a listing of the Payee,their bank account details and the amounts payable to them. we will also discuss the format of this listing at the very early stages in our relationship.
What are the Benefits?
- Payments are not subject to postal delays
- Improved Cash flow management, you don’t have to wait up to a week for cheques to clear
- Reduced administrations, no cheques to raise, no envelopes to address
- Detailed analysis and confirmation reports of all payments made