Bankers Automated Clearing Services. This is a company which provides a centralised payment service between bank accounts. The service is used by many companies as well as banks to accept and pay items such as salaries, services and goods. A BACS payment normally takes three days to process from the paying account to the receiving account.
The Banks Automated Clearing System (BACS) is a method of transferring money electronically. Payments made by this method can take up to working days to clear. There are no charges for customers making a BACS payment from their BBI account.
Banks Automated Clearing System. This is a process for transferring money electronically from one bank to another.
"Bankers Automated Clearing Services" - the process for Sterling clearing for domestic banks. Usually takes 3 business days.
Bank Automated Clearance System. Certain payroll packages - especially those with electronic Inland Revenue accreditation - allow you to use the BACS system to transfer your employees' pay directly to their bank account via Direct Debit.
Electronic transfer of funds. A free service that takes 2-3 days.
An electronic bulk clearing system generally used by banks and building societies for low-value and/or repetitive items such as standing orders, direct debits and automated credits such as salary payments.
Bulk Automated Clearing System (UK)
Money transfer service from an automated clearing house providing predominantly retail payment services that include direct debit, standing order and direct credit (e.g. salary payments).
The system used by UK's banks and building societies for transferring money.
BACS stands for Bankers Automated Clearing Service, which is a computerised system facilitating the transfer of funds from one bank account to another after clearing.
Bankers Automated Clearing Services -an electronic transfer system for Sterling clearing for domestic banks. Usually takes 2 working days for the transfer
BACS is the company which manages the Direct Debit scheme and owns the automated clearing house which processes direct debits on behalf of the UK banks and building societies
Bankers Automated Clearing System. The process of transferring money electronically from one bank to another. This system is often used by lenders for collecting Direct Debits.
Acronym for Bank Automated Clearing System. Payments will take 4 business days to clear into a designated account.
Bankers Automated Clearing Services Limited - an electronic funds transfer service whereby customers may enter debit and/or credit entries directly into the UK bank clearing system. The automated transactions may be created either by their own computer installation or by a service bureau on their behalf.
BACS Limited is the world's largest automated clearing house, owned by the major UK banks and building societies. Put simply, the BACS service is a computer system which sorts automated payment instructions to allow the transfer of funds electronically. See also Direct Credit and Direct Debit. Further information is available at www.bacs.co.uk
Payment through the Bankers Automated Clearing System
A system used by banks in the UK that transfers money electronically.
The BACS network is the electronic funds transfer system in the U.K.
Banks Automated Clearing Service
This was set up by the main Banks to deal with all standing orders and direct debits, which transfer money direct from one Bank Account into another.
Bank Automated Clearing System - the electronic process for Sterling clearing for domestic banks. A cost saving process that should take 3 business days to reach the destination account.
Originally stood for Bankers Automated Clearing Services. Now called BACS Ltd., the company provides a payment and clearing system for Pounds Sterling in the UK.
Bank Automated Clearing System. A debit and credit system used to make direct transfers to/from client accounts.