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Bacs
Bacs is the UK payment method used for non-urgent, usually low-value and high-volume GBP payments.
Use Bacs for direct credits or direct debits
Bacs payments are ideal for processing large batches of UK payments that don’t require urgent same-day clearing. Bacs is often used for payroll, dividends, collecting bill payments and refunds.
Bacs Direct Credit
Bacs Direct Credit allows you to submit payment files directly via SVB Online Banking or Transact Gateway, without relying on any third-party provider.
- Efficient ways of handling large number of small transactions
- File-based processing with bulk payment capability
- 3-day clearing cycle
Bacs Bureau
A Bacs Bureau is a third-party company that submits Bacs payments on your behalf, facilitating the payment process for you.
- Efficient ways of handling large number of small transactions
- File-based processing with bulk payment capability
- 3-day clearing cycle
Bacs Direct Debit
Bacs Direct Debit allows UK companies to collect GBP payments from your SVB account, if you have authorised them to do so.
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Pay your company’s UK bills and commitments via Direct Debit
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Simple way for you to pay recurring charges, automatically
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Save time as you don't have to initiate the payment yourself
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Protected by the Direct Debit Guarantee scheme
Why use Bacs with SVB?
A reliable and trusted partner to ensure all your transactions are delivered accurately and on time.
Choice of Bacs payment methods
Make Bacs payments through SVB Online Banking, Transact Gateway or through a Bacs Bureau of your choice.
Low-cost payments
Bacs is the lowest priced transaction type available.
Improve efficiencies
Pre-authorise third parties to collect funds from your account using Bacs direct debit.
Should my business be using Bacs?
Our relationship teams have vast knowledge of payments and can help you understand which payment types will be beneficial for you now and in the future.
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