bacs in news
RSS bacs in newsBACS rebrands for Europe
News The UK's electronic clearing house BACS - responsible for the direct debit system and ensuring salaries get paid at the end of the month - has rebranded as part of ambitious expansion plans to become a dominant player in the European payment market. [12 Oct 2004]
Mega banking migration programme "a success"
News Earlier this year Bacs completed a project to migrate 100,000 customers over to a new payments system, which it now says was a "resounding success". Research by Bacs found that nine out of 10 of its users polled described the migration as an 'easy... [15 May 2006]
UK banks clearing system in £75m overhaul
News BACS, the UK's largest automated clearing house for banks, is to invest £75m on a complete technology overhaul to help it cope with increasing demand. BACS (Bankers Automated Clearing Service) will invest the money over the next five years in the... [25 Feb 2002]
35,000 companies risk missing payment switchover deadline
News The Bacs system that companies use to process such payments is being upgraded, with the existing system to be switched off at the end of the year. Voca (formerly Bacs), which runs the system, wants to move its customers over to a new communications... [20 Sep 2005]
Database glitch delays salary payments
News The problem occurred when Voca's Bacs database suffered a glitch on Wednesday which caused it to slow down. UK payments association Apacs has guaranteed those affected - up to 400,000 people, or 1.6 per cent of today's Bacs payments - will receive... [30 Mar 2007]
UK SMEs urged to switch to direct credit
News The UK's automated payments clearing house, BACS, claims three-quarters of small businesses currently don't ask to receive business payments via direct credit. BACS puts the cost of handling a direct credit payment at 61p per transaction, compared... [02 Sep 1999]
New Year payroll crisis warning to UK employers
News Over 90 per cent of UK salaries and an increasing proportion of government social security benefits are paid automatically into bank accounts through the Bacs clearing house, which is switching over to a new IP-based system from 1 January 2006. [01 Aug 2005]
Royal Bank of Scotland takes lead with ID management
News The Royal Bank of Scotland is to provide digital certificates to 40,000 businesses connected to BACS, the UK payment and clearing organisation. The IT security services arm of the bank, TrustAssured, is selling Eident certificates as part of an... [28 Jun 2005]
UK firms urged to adopt ebanking
News A report from the Bankers Automated Clearing System (Bacs) claims UK business is wasting as much as eight million working days a year by ignoring electronic methods of payment. Jeremy Asprey, product manager for Direct Credit at Bacs, said: "The... [19 Oct 1998]
Voca obeys call for cheaper Euro payments
News The firm, formally known as Bacs, is working with BEA Systems, Sun and Oracle to replace mainframe computers to comply with the European directive, the Single European Payments Area (Sepa) - aimed at driving down cross-border transaction costs by... [12 Oct 2005]
Voca jumps into council savings gambit
News Voca, formally known as Bacs, has teamed up with the Office of the Deputy Prime Minister (ODPM) and will work with councils to help them meet savings targets set last year. Payments organisation Voca is partnering with the government in a bid to... [21 Oct 2005]
Voca revs up payments engine
News The system, built by Voca for Bacs Payment Schemes and its 13 member banks, has been designed to speed up transaction clearing times and back-office processing. The system at the heart of the UK's automated payments infrastructure has been replaced... [25 Jul 2006]
Taskforce to look at legislation to protect UK banking system
News It warned that disruption to payment and settlement computer systems such as Chaps and Bacs could lead to chaos in the banking system. A government taskforce will look at possible legislation to protect banking systems and procedures in the event... [20 Jun 2003]
e-payments could kill off the cheque by 2025
News Businesses' cheque use in particular has plummeted, as firms now almost exclusively prefer to pay their employees using electronic transfer systems such as Bacs. Cheques could soon be the financial world's equivalent of the penny-farthing, as debit... [15 Aug 2005]
OFT to probe cheque clearing
News Members include Bacs, the Bank of England and the Association of Payment and Clearing Systems. The Office of Fair Trading (OFT) is to scrutinise the way cheques are cleared as part of an investigation into whether faster transaction times are... [08 Nov 2005]
