BACS payments are the fastest, most reliable and cost-effective method to transfer funds. The BACS (Bank Automated Clearing System) system was originally set up by the UK banking industry as a more secure and effective way to process multiple financial transaction payments. BACS is universally trusted as the most risk-free form of payment processing and operates alongside all the leading high street banks.
Sussex Payroll Services are an Aproved Bacs Bureau with the facility to process many of your payments on your behalf as an ‘indirect submitter’:
- Court Orders
- Other Third Parties
BACS payments take 3 working days to transfer and clear.
- Day 1: Payment details submitted
- Day 2: BACS process payments
- Day 3: Funds available within banks account
Funds are debited from the clients’ account and credited direct to the designated bank accounts the same day.