One of the most common bank to bank payments in the UK is the Bacs system. Bacs payments are split...
How does Bacs work for payroll?
With Interbacs managing your Bacs Direct Credits, you can save time, money and a lot of administrative hassle. Find out how Bacs can streamline your payroll.
Owned and operated by Pay.UK, Bacs is the network of major banks and building societies that take part in the Bacs payment scheme. Bacs enables you to automate your payroll payments to ensure your hard-working employees receive the right amount at the right time. With a Bacs Approved Bureau like Interbacs by your side, managing your payroll has never been easier or more cost-effective.
What is the difference between Direct Debit and Direct Credit?
Direct Debit is the payment option of choice for thousands of companies nationwide to collect important payments from customers and organisations. Direct Credit is used to pay eight in ten employees in the UK. This covers wages, salaries, benefits and settling business-to-business invoices. It allows employers to send funds directly from their account to those of their employees, with the technical support of a Bacs Approved Bureau.
How do I make Bacs Direct Credit payments?
To make a Direct Credit payment, you simply need your payee’s account number and sort code. You submit your payment data to your chosen Bacs Approved Bureau who will then submit these instructions directly to Bacs on your behalf. On your designated payday, salaries are automatically transferred from your payment account to your employee’s accounts as cleared funds. They can then access their money immediately.
Bacs Direct Credit can be used to pay the following:
- Wages and salaries
- Pensions
- HMRC PAYE payments
What are the benefits of a Bacs Approved Bureau?
Interbacs’ Bacs Approved Bureau services are for companies that have a Service User Number (SUN) but would rather outsource their payment instructions. We can streamline your payroll processes with one straightforward Bacs payment file and one resulting debit on your account. This saves time, money and resources, and comes with the peace of mind that our technical team is only ever a call away should you need our support.
As one of the most experienced Bacs Approved Bureaux in the business, we inject every one of our 30 years of collective industry experience into our first-class Bacs payment solutions. All of which are designed to make your payroll processes more efficient. With Interbacs’ Bacs Approved Bureau service you’ll no longer need a large payment processing team; a single individual and our software can handle all the stresses for you.
Save time and money with reliable, professional, and innovative payment solutions and services from Interbacs. For more information about our Bacs Approved Bureau service, or any of our other products or services, please contact us on 08444 127 180. Our experts are here to help you in any way we can.
