BACS – Say Goodbye To Manual Payments
Stop wasting time making manual payments! Let us make BACS payments to staff and HMRC on your behalf.
What is BACS?
BACS is a payment system that’s used in the UK to directly move funds from one bank account to another, the system has been in place since the late 1960s. BACS is fast, safe and secure.
Simply obtain a payroll user facility and number from your bank (we can help you with all of this…) and our team will set up your secure BACS payment service for you.
You have better things to do than worry about paying staff and HMRC. So, why not hand everything over to us?
How do I set BACS up within my business?
You need your bank’s approval in order to make BACS payments, all major UK banks based in the UK are part of the BACS system.
Obtaining your SUN is part of the approval process undertaken by your bank. When you have been approved for BACS payments, your bank will provide you with an application for a SUN.
What is a Service User Number (SUN)?
A Service User Number (SUN) is a number that BACS issues to business owners who use their system. This is the number that identifies the business. When you choose a BACS Approved Bureau, you’ll need to give your SUN number to them so they can make payments on your behalf.
How long do BACS payments take to process?
BACs payments work on a three day cycle, taking three working days to clear. Payments are submitted to BACS on the first day, processed by the banks on the second day, and simultaneously taken from the sender account and credited to the recipient account on the third day.
Day One – BACS File is prepared, authorised and submitted
Day Two – Processing Day
Day Three – Employee bank accounts are credited and company bank account debited simultaneously