View source for Banker's Automated Clearing Service (BACS)

Banker's Automated Clearing Service (BACS) is a [[payment]] method used to transfer funds from one bank account to another. Although still in use it is gradually being replaced by the [[Faster Payments|faster payments]] service.

'''Check''' - Check that the bank account details provided are genuine.

'''Issues''' - BACS is not reversible and your bank is under no obligation to help you if you make a mistake.

'''Timing''' - Payments are usually complete within [[three]] [[Day|days]].

'''Discrepancies''' - Check bank account details provided are genuine and have more than one pair of eyes authorising a BACS payment.