Bacs Transfer. Obtaining bacs approved software and a sun service user number can be time consuming and costly. By debit or corporate credit card online.
Examples of direct debits could be your monthly council tax payment internet bill utility bill and so on. Bacs is owned and operated by payuk. For example as i said previously if you make a bacs transfer with hbos the funds leave the account the next working day if the transfer is requested the prior working day before 6pm.
Bacs direct credit is the preferred method of receiving payments with eight in ten employees in the uk receiving wages or salaries this way.
Bank transfer bacs credit your bank will allow you to transfer money to another account using your personal or business account. The payments take 3 working days to clear so money paid into your account on monday will clear on wednesday. It is mostly used for lower value and frequent transfers as it is low cost. There are two main types of bacs payment.