BACS

BACS
Bankers Automated Clearing Services
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BACS Payment Services
Definition of BACS. BACS stands for Bank Automated Credit System.

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BACS
Acronym for Bank Automated Clearing System. This is the system used to send money between most banks and building societies in the UK.

BACS
Bankers' Automated Clearing Services, can be used to withdraw funds from your Account by phone, the TD website or in writing.

BACS
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Bank Automated Clearing System. We use this to send funds to, and claim money from your chosen bank account.

BACS Payment Schemes Limited is a membership-based industry body whose role is to develop, enhance and promote the use and integrity of auto...(Read more)
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Bankers' Automated Clearing Services (BACS)
BACS (originally an acronym for Bankers' Automated Clearing Services) is responsible for bulk electronic clearing and the management and provision of related payment services to the UK banking industry.

Bankers automated clearing system (BACS)
This is the system for sending money electronically between banks. Bankers automated clearing system payments happen when money is sent from one bank account to another electronically.
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Instant access savings accounts allow you immediate access to your money as cash via an ATM, over the branch counter, or same-day CHAPS bank transfer. Easy access savings accounts offer funds returned by cheque in the post or BACS transfer - although ...

The method of payment is generally expected to be electronically nowadays: cheques are becoming less common. Settling invoices and paying employees can be done by BACS, CHAPS or direct transfer directly into their bank account.

See also: Banks, Euro, Acquisitions, Mergers, Payment system