BACS
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Explore more → **BACS**
What is BACS?
BACS (Bankers' Automated Clearing Services) is a UK payment system used for direct debit and direct credit payments. It enables businesses and organizations to make and receive payments directly into and from bank accounts. Common uses include salary payments, bill payments, and supplier payments. It's a widely used, secure, and reliable method for electronic fund transfers in the UK.
What other technologies are related to BACS?
BACS Competitor Technologies
CHAPS
CHAPS is a same-day payment system in the UK, competing with BACS for high-value and time-critical payments.
Faster Payments
Faster Payments (FPS) provides near real-time payments, directly competing with BACS for speed and convenience.
SEPA
SEPA (Single Euro Payments Area) facilitates euro payments across Europe and is a competitor to BACS in regions where both are available.
FPS
FPS (Faster Payments Service) is a near real-time payment system in the UK, a direct competitor to BACS for faster payments.
Target2
TARGET2 is a real-time gross settlement system for euro payments, primarily used for large-value transactions between banks and is a competitor for certain types of payments.
ACH
ACH (Automated Clearing House) is a US electronic funds transfer system, analogous to BACS but operating in the US.
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BACS Complementary Technologies
ISO20022
ISO 20022 is a messaging standard for financial transactions; it can be used by BACS to improve data quality and interoperability.
Swift
SWIFT is a global messaging network used for financial transactions, including those related to BACS for international legs of payments.
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Which job functions commonly mention BACS?
Data Analyst
66 Data Analyst jobs mention BACS
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jobs on Sumble
Finance
116 Finance jobs mention BACS
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jobs on Sumble
Data, Analytics & Machine Learning
68 Data, Analytics & Machine Learning jobs mention BACS
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jobs on Sumble
Accountant
70 Accountant jobs mention BACS
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jobs on Sumble
Operations
140 Operations jobs mention BACS
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jobs on Sumble
Which organizations are mentioning BACS?
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