As a registered BACS approved bureaux, Menzies is authorised to offer our clients BACS payment services. These are used by our clients to manage salary payments to employees, PAYE liability payments to the HMRC, and other payroll related payments such as attachment of earnings orders or child maintenance service.
We have answered the below Frequently asked questions that we often receive to help you understand what BACS payment services are and some insight into the process and what we can offer our clients:
What does BACS stand for?
BACS stands for Bankers Automated Clearing Services
What is a BACS bureau and what do they do?
A BACS approved bureau is an organisation that submits BACS payments on behalf of their clients.
What is a BACS payment?
A BACS payment is an electronic transfer from one UK bank to another. This can be used for payments such as salaries, PAYE AEOs and pensions.
How do we make a BACS payment?
We submit your payment data including the amount of payments, bank details and date of payment via our BACS bureau system
How long does a BACS payment take?
The payments take three working days to clear, so if you are paid on Monday the money will clear in your account on Wednesday.
What is the payment process for BACS?
The bacs payment process starts with the payment file being submitted on day 1, Processed on day 2, and payment received on day 3.
How do you set up BACS?
You need to contact your bank and request an indirect submitters form to complete, provide the bank with our bureau number and once the bank have completed your application you will be provided with a Service user number that you can provide to us. This gives us authority with the bank to process your bacs payments.