What is Bacs software?
Working alongside your existing accounting, payroll or membership management software to send electronic payment instructions to Bacs, SmarterPay Bacs Software is a Bacs-approved payment solution designed to make life easier for you.
What is Bacs IP?
Bacstel-IP is a secure access channe for submitting Direct Debit payments and Direct Credit payments directly into the Bacs system in the UK. It’s normally used in conjunction with Direct Debit software (e.g. Bottomline Technologies ePay) and eliminates the need to use a Direct Debit bureau.
What is the Bacs process?
Both Bacs Direct Credit and Direct Debit 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.
How do I pay via BACS?
To make Bacs Direct Credit payments you submit your payment data – including amount of each payment, PSP account numbers, sort codes and dates – via a bureau or direct access depending on which method you choose. The data is sorted into payments to each of the PSP and then transmitted to each institution.
What is BACS stand for?
Automated Clearing System
What does Bacs stand for? Bacs stands for Bankers’ Automated Clearing System. It refers to the network of banks and building societies that participate in the Bacs payments scheme.
How do I set up a Bacs payment?
How do I pay someone by Bacs?
Why does BACs approve all Bacstel-IP software?
Since Bacs approves all Bacstel-IP software before it reaches the marketplace, users are reassured that the software has surpassed set quality standards, enabling a reduction in payment errors and enhanced control and protection of Bacs submissions. Below is a link to a list of all Bacs approved software.
Which is Bacs approved software for electronic payments?
Approved Software – Only electronic payment software suppliers who have achieved the highest security and service standards will be certified by BACS as an Approved Software supplier. BACS active-IP electronic payment software is a BACS TEL-IP bank approved software solution provided by Accountis through partnership with PCF.
How can I use BACs as a direct submitter?
You can connect to Bacstel-IP across two connection types: the Internet, and Fixed Extranet. Simply choose the most appropriate for your business. As a direct submitter there are two ways you can access Bacstel-IP: using software that Bacs has approved for Bacstel-IP and using a secure website called Bacs payment services.
What are the different versions of bacway software?
Using Bacway, organisations can submit their Bacs payment files directly to Bacs, or submit files on behalf of others. Based on business size and payment processing needs, the software is available in three different versions: Professional, Enterprise or Enterprise HSM.