Bacs Direct Credit is an electronic payment method used by organisations both large and small. In 2022 there were nearly 2 billion Direct Credit payments. These were used for wages and salary payments, supplier payments, expenses and even state benefits.
Where the amount and due date is known in advance, Bacs Direct Credit is a convenient and cost-effective method compared to alternatives. Bacs provide feedback on failures; transactions can be submitted in advance for a future payment date and although errors are rare, there are mechanisms in place that can help organisations address wrongly applied payments.
Bacs Direct Credit Training Options
Spending an Organisations Income is a big responsibility.
Give your teams the confidence and skills to get it right every time
What does Training cover?
Our half-day training courses will answer questions such as:
- What is a Bacs Direct Credit?
- Who are Bacs and Pay.UK?
- What are the Bacs Scheme Rules and how do I stay compliant?
- Why use Direct Credit rather than other payment methods like Faster Payments?
- What are the advantages of Bacs Direct Credit vs Faster Payments?
- What bank checks and Know Your Customer (KYC) checks should I perform on new Payees?
- How long does it take to make a Payment and what is the Bacs cycle?
- What is an AWACS Report and what does it show?
- What is an ARUCS Report and what does it show?
- What should I do if a payment has been made in error?
- Can I clawback a wrong payment?
- How can I access Payment Services Website and why do I need to?
- What are the differences between Direct Debit and Direct Credit?
Whatever your role
Our training is tailored to your role and requirements. Typical attendees include ..
- Credit Controllers
- Finance Managers
- Accounts Receivable
Honestly I can't think of anything to improve this course. It was interesting and engaging, well structured and delivered at the relevant level for the audience (a mixed bag when it came to existing knowledge of Bacs). The value of your support and training guides is much appreciated, Thank you.
Also interested in Accredited Direct Debit Training?
Read more about our Direct Debit Training Options or contact us today