Direct Debit Software

BACS Payment Schemes Limited was formed back in 1968 in order to electronically process financial transactions. It was originally named Inter-Bank Computer Bureau, then moved to Bankers automated clearing services in 1971, and finally became known as BACS Limited in 1985. It was created in order to eliminate paper documents as part of the money transfer process.In all those 44 years BACS has a record of no errors and has now become the most used payment system in the UK today as well as being taken on board by 15 of Europe’s major banks. As well as banks, many financial services, accountancy firms and Cash back companies can benefit. BACS covers virtually all varieties of payment including:• Credit Card transactions• Online• Wages and salaries• Insurance bills• Utility bills• Supplier payments• Pensions• Inland RevenueThe service takes a minimum of 3 banking days with the first day to enter it into the system, the second day to process it and the third day to clear it. Once you give your bank details and your account number and authorise payments via BACS with your bank, you’re all done. From then you can enjoy the benefits of automatic, simple and trustworthy payments. This of course proving to be most beneficial to businesses that have a large amount of transactions to make on a regular basis. With this they can divert time and effort into other aspects of the business rather than paying wages, suppliers, rent, insurance and utility bills. However it can still be a complex task to manage and collect all these direct debit transactions. Direct debit software is available to better process them. Direct debit software is used by some of the biggest banks, building societies and companies in the UK. Some of the features that the software may include are; advanced notice letters, transaction codes, API, web server software, technical support desk, designated Account manager, out of hour’s liaison contacts.Direct debit software fits any size business and benefits larger business most. It is cost effective that meets the needs and budgets of all organisations. They provide user friendly interfaces for those with a small management team and large web server software for those organisations with many users requiring access to customer direct debit details. You can benefit call centres with software that is available for unlimited desktops.