BACS Interface
Overview
The computers at BACS validate incoming files of transactions and record their content. The individual transactions are sent to the destination banks for posting to the appropriate accounts.
Bacs processing cycle
Input - day 1
Input day is the latest day a business user/bureau may submit a payment file to Bacs for a processing cycle. Processing - day 2
Files are delivered to the recipient banks which then process each payment.
Entry - day 3
Payments are simultaneously debited from the recipients’ accounts and credited to your account.
The BACS Interface processes payments for purchases and receipts for sales using BACS. When either the Remittance Advices or Direct Debits are generated or when the Payslips program is run, a file of transactions is created. This is processed by the BACS Interface for submission to BACS itself.
The Telecommunications System enables you to connect directly with BACS, using the BACSTEL service. Transactions from Accounts Payable and Accounts Receivable are sent via the Public Switched Telephone Network (PSTN), leased lines, Kilostream or Packet SwitchStream (PSS). This system can be used for fast high-volume communications. As the information is sent to BACS by direct connection, BACS sends back a report (called an On-line Report) giving validation information immediately.
Details of the rules for submissions and reports issued by BACS can be found in the BACS User Manuals and guides, supplied by BACS and your sponsoring bank. The sponsoring bank is the bank through which the application to use BACS is made.