Bankers Automated Clearing Services

BACS is the UK’s bulk payment system.
It is used for credit transfers and Direct Debits.

2 working days to complete
£20M Customers

£999M Government and Banks

BACS Use cases

Regular, scheduled payments are sent via BACS:

  • Business to Business and Business to Customer
  • Bacs Direct Credits
  • Payroll
  • Pensions
  • Benefits
  • Direct Debits
  • Supplier payments
  • Utility bills
  • Subscriptions

Operational details

Bacs is the bulk system for high volume, regular retail payments.
Bacs Payment Schemes Ltd (Bacs) sets the rules for the system.
It is open for submission 24 hours a day with a cut-off time of 22:30
two business days before settlement date.

If payments are submitted on day zero then the BACs scheme calculates the amount each bank has to pay each other on day D+1. banks then settle with each other at the same time on D+2.