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What does BACS stand for? Page #2
What does BACS mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: BACS.
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| BACS | Bachelor of Arts in Communication Studies Community » Art -- and more... | |
| BACS | Brick- And –Click Store | |
| BACS | British Association for Chemical Specialities | |
| BACS | British Automobile Club Sweden | |
| BACS | Body Axis Coordinate System | |
| BACS | Bay Area Commuter Services | |
| BACS | Battery Accessory Car Service | |
| BACS | Bankers Automatic Clearing System | |
| BACS | Bachelor of Administrative and Commercial Studies |
What does BACS mean?
- BACS
- Bacs Payment Schemes Limited (Bacs), previously known as Bankers' Automated Clearing System, is responsible for the clearing and settlement of UK automated direct debit and Bacs Direct Credit and the provision of third-party services. Bacs became a subsidiary of Pay.UK (formerly known as New Payment System Operator (NPSO)) on 1 May 2018, and responsibility for direct debit, Bacs Direct Credit, the Current Account Switch Service, Cash ISA Transfer Service and the Industry Sort Code Directory was given to Pay.UK.More than 140 billion transactions have been debited or credited to British bank accounts via Bacs since its inception; in 2019, 6.5 billion UK payments, worth £5 trillion, were made. At the end of November 2019, the number of single-day transactions processed by Bacs reached a high of 124 million; a monthly record was set in August 2018, when 580 million payments were processed.
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"BACS." Abbreviations.com. STANDS4 LLC, 2024. Web. 11 Jun 2024. <https://www.abbreviations.com/BACS>.
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