Bacs Payment Schemes Limited



About the scheme:

Founded in 1968, Bacs, the not-for-profit, membership-based industry body, is owned by 16 leading banks and building societies.

Bacs has been maintaining the integrity of payment related services for over 45 years – the company is responsible for the schemes behind the clearing and settlement of automated payments in the UK including Direct Debit and Bacs Direct Credit.

The Government acknowledges that the Bacs payment system is of critical importance to the UK financial system and has confirmed that it meets the recognition criteria set out in the Banking Act 2009.

Since its inception, more than 100 billion transactions have been debited or credited to British bank accounts via Bacs. In 2013, 5.67 billion UK payments were made this way, with a total combined value of £4.19 trillion.  A new record was also set in 2014, with 98.6 million items processed in a single day.

Bacs operates two core schemes namely Direct Debit and Bacs Direct Credit. In addition, Bacs operates a suite of managed services including Cash ISA Transfer Service, Bank Reference Data service and the Current Account Switch Service and Biller Update Service.

Bacs Payment Schemes Limited (Bacs) is one of the companies that has been consolidated in 2018 as part of the creation of Pay.UK, along with Faster Payments Scheme Limited and the Cheque & Credit Clearing Company (C&CCC).

Pay.UK is an important part of the strategy for payments in the UK and will reduce complexity and risk, providing a platform for innovation.

Further information about the scheme and access criteria can be found on their website:


  • Bacs can be contacted by writing to us as follows:  

    Bacs Payment Schemes Limited
    2 Thomas More Square
    London E1W 1YN

  • Or, you can email your question to the following address: 
  • Telephone:  0370 165 0018