Bacs Faster Payments
Automated Bacs Faster Payments are at the heart of the UK’s financial system, providing an essential service for bill payers and billers, employees and employers, charities and donors, clients and suppliers, and government.
Direct Debit is the payment option chosen by thousands of companies to automatically and securely collect important payments from millions of people and organisations. Bacs Direct Credit – commonly known as Bacs – is used to pay 90% of the UK workforce, whether that’s wages, salaries, or benefits, as well as for settling business-to-business invoices.
Checkprint Bacstel-IP Solution, powered by Experian Payments Gateway, allows Bacs payments, Faster Payments Direct Corporate Access (DCA) and Direct Debit collections to be achieved in a simple and secure process.
The solution is fully RTI Compliant and will enable the submission of the RTI cross-reference in your payroll submission to Bacs.
Fully proven technology
Nearly 50% of all UK Bacs Direct Debits collected and over 30% of Bacs Credits are made using Experian Payments UK Gateway. (Vocalink, Nov 2014)
Bacs Faster Payments software features
- Incorporates UK’s leading bank account validation software to validate accounts
- Automated remittance advice generation available
- Submit Direct Debit Instructions using AUDDIS
- Collect Direct Debits
- Retrieve and distribute Bacs reports
- Make Faster Payments through Secure-IP Direct Corporate Access (DCA)
Intelligent design will accommodate additional/ future payment systems.
Cloud alternative to software
Our Integrated Payments Bureau provides all the functionality described above, delivering the solution as an outsourced service. All payments and Direct Debits can be securely managed by our experienced team.