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EDDI - Eazipay's Direct Debit Interface. An online portal to access and manage your Direct Debit accounts. find out more

small business guide to Bacs

Described as being systemically important to the efficient operation of the UKs financial service sector, Bacs has been at the heart of the UKs payment industry for some 50 years.

In 2018, Bacs became a wholly owns subsidiary of Pay.UK, which has now taken responsibility for Direct Debit, Bacs Direct Credit, the Current Account Switch Service, Cash ISA Transfer Service and the Industry Sort Code Directory.

Since its inception, more than 130 billion transactions have taken place. In 2018 alone 6.4 billion UK payments were made using Bacs services. A new record was set in November 2019, with 124 million transactions processed in a single day, while the value of transactions processed reached £58.8 billion on one day alone in April 2017, another record.

What Is Direct Debit?
A Direct Debit is an instruction from a customer to their bank or building society (sometimes called a payment service provider, or PSP) authorising them to make regular payments to another company, such as a mobile phone provider or a utility company. Account holders can even make charity payments by Direct Debit.

Around 9 out of 10 adults in the UK have at least one Direct Debit. 73% of household bills are paid this way and when asked for their payment preferences, 62 per cent said they preferred to pay their bills this way.

All Direct Debit payments are protected by the Direct Debit Guarantee, a money back consumer safeguard. If anything does go wrong, the customer will get their money back. The Direct Debit Guarantee applies to all Direct Debits and is supported by every PSP which offers Bacs Direct Debit payments.

What is Bacs Direct Credit
Bacs Direct Credit is an easy, safe, secure and reliable means of payment which allows organisations of all shapes and sizes to make payments to an account via their chosen PSP provider

In contrast to cash or cheque payments, Bacs Direct Credit cannot be stolen or ‘lost in the post.’

The popularity of this method of payment can be demonstrated by the fact that over 150,000 organisations in the UK make use of Bacs Direct Credit. It has been widely adopted to pay benefits, wages and salaries.

Almost 90 per cent of the country’s workforce is paid using this method and around one billion benefit payments are made through Bacs Direct Credit.

It is also the preferred way to pay for a range of other financial commitments like pension payments, employee expenses, insurance settlements and refunds

The advantages of Bacs Direct Credit are available to businesses whatever their size and sector and include:

  • Saving time and administration costs. With Bacs Direct Credit, the creation and authorisation of a payment file is a simple and inexpensive process.
  • Improved cash flow management. The business knows exactly when funds will leave their account.
  • Direct cost savings. Businesses can eliminate the use of cheques which saves money and postage costs.
  • Better payment terms. If you elect to pay suppliers by Bacs Direct Credit, businesses may be able to negotiate better terms by offering more flexible payment options.

For more information visit: www.bacs.co.uk or www.directdebit.co.uk

★★★★★

James Simpson
SkinViva Ltd
Wonderful company. They offer a very efficient service with a quick turnaround time between Direct Debits being processed and the funds being transferred to your business. They provide good reporting that has helped our business gain a better understanding of our own clients. We've been with Eazipay for several years and all throughout that time we have received great customer service that has a very personal feel to it. It can often feel like you're their only customer!

★★★★★

Michelle
John Cashin Tuition
We have been using Eazipay for our private tuition business for approximately seven years and we couldn't be more impressed. Deciding to use Eazipay has been one of the best decisions we have made. It is so much easier for me now that I do not have to chase customers for payment, it's all done for us - like clockwork. The staff are so helpful, courteous, friendly and super efficient. A very professional service indeed. For me Eazipay are worth their weight in gold!

★★★★★

Mark Ward
Midland Tech
Midland Tech have been using Eazipay for nearly four years and the service has been excellent. It's easy to use, payments are received promptly, and customer service is very good. Emails are answered quickly, nothing is too much trouble, and everyone you deal with is very knowledgeable and friendly I would recommend Eazipay to anyone.

★★★★★

Oliver Thompson
CCCit
We have been using Eazipay to take direct debit payments from our clients since 2008. As a long standing customer our business could just not run without the assurance that we are going to get paid on time. Eazipay has allowed us to grow our business without the hassles involved in collected numerous monthly payments. We really appreciate all the hard work and expertise that the team at Eazipay bring to our business. Thank you from everyone at CCCit

★★★★★

Andrew Straton
Yorkshire Dales Sailing Club
Eazipay have been collecting Direct Debits on behalf of the Yorkshire Dales Sailing Club since 2009 and we have never looked back! It has made our administration, run entirely by volunteers, so much easier and saved us large amounts of cash by not having to post reminders to members every year. Thank you EAZIPAY, you do a great job and I would (and have) recommend you highly to anyone thinking of using a Direct Debit system in the future.

★★★★★

Emma Statham
We have been using the services that Eazipay Ltd offer for some years now and cannot recommend them highly enough. in a nutshell, they offer an incredibly professional, personal , and faultless service allowing us to collect direct debit payments from some of our customers, hassle free. Natalie Terris is our account manager, and she is helpful, friendly and knowledgable. All our queries are dealt with simply and swiftly. All the Eazipay processes we use are simple to use. We wouldn't go anywhere else- Thanks Eazipay! x

★★★★★

121 IT Services Ltd
We started working with Eazipay in September 2013 and since that time they have made both our clients and 121 IT's life so much simpler. The staff are great, friendly and very good at what they do. Would totally recommend them, thank you.

★★★★★

Mark Wyatt
Telecom Network Services
Telecom Network Services has been a customer of Eazipay for 14 years, since I started the business. The staff at Eazipay are outstanding, always efficient and process payments accurately and on time everytime! I recommend Eazipay Ltd, they are a great company to do business with.

★★★★★

Steven Bourne
We have been a client of Eazipay for over two years now and the service is excellent. There is always someone available on the end of the telephone to deal with any queries and it is a very professional set up. The way in which the system operates is very straightforward and we save hours of time and hassle compared with using the old method of standing orders. I would thoroughly recommend Eazipay to any business which wants to make collecting money easy!

★★★★★

Emma Martineau
Phones 4 Business started collecting payments by Direct Debit in 2007. We chose Eazipay and have never looked back. I daren't calculate how much time I have saved in using Eazipay and staying with them is a no brainer! Why change when I have such a good supplier? It is service that counts; Natalie Terriss and the whole team are always very friendly, efficient and reliable. I have no hesitation in recommending them.

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