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What does BACS stand for? 

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

Bankers' Automated Clearing Services

Business » Banking -- and more...

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BACS

Bankers Automated Clearing Service

Business » Banking

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BACS

Bankers Automated Credit Service

Business » Banking

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BACS

Building Automation and Control System

Miscellaneous » Unclassified

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BACS

Bank Automated Clearing System

Business » Banking

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BACS

Bank Automated Credit System

Business » Banking

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BACS

British Association for Canadian Studies

Regional » Canadian

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BACS

Bankers Automated Clearing Services

Business » Banking

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BACS

Bankers Automated Clearing System

Business » Banking

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BACS

British Association for Chinese Studies

Community » Associations

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BACS

Berkeley's Animal Care Services

Miscellaneous » Animals

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BACS

Business and Community Shares

Business

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BACS

Bay Area Community Services

Community

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BACS

Bay Area Christian School

Community » Religion

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BACS

Banks Automated Clearing System

Business » Banking

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BACS

Berkeley Animal Care Services

Miscellaneous » Animals

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BACS

Building Access Control System

Miscellaneous » Unclassified

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BACS

Building Automation and Control Systems

Miscellaneous » Unclassified

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BACS

Business Archives Council of Scotland

Governmental » Council

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BACS

Bryn Athyn Church School

Community » Churches -- and more...

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BACS

Business Administration Computing Services

Business -- and more...

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BACS

Business And Computer Science

Business -- and more...

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BACS

Boston Archdiocesan Choir School

Community » Schools

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BACS

Bay Area Computer Solutions

Computing

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BACS

Bank Account Clearing System

Business » Banking

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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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