Payment Solutions

BACS

As a BACS (Bankers Automated Clearing Services) accredited bureau, TransGlobal provides its customers with the ability to process all their UK BACS payments whether it is settlement of supplier invoices, payroll or expense payments. Using PayFac, TransGlobal’s easy to use payment solution processing your local UK BACS payments could not be easier as you can:

• Set Payment Processing Dates for any future date
• Group your payments in one batch
• Set up Batch templates for repetitive payment runs
• Upload BACS payment files direct from your accounting or payroll systems
• Incorporate authorisation workflows to meet your business requirements
• Make salary and wages payments being RTI compliant

TransGlobal upholds the highest standards when processing your BACS payments. Being an approved BACS bureau requires our business to undergo a comprehensive audit inspection process covering process management and risk assessments which is carried out by BACS.

Making BACS payments is a more cost effective method in making UK payments; it takes away the need to write cheques and the unreliability of the postal system and provides better visibility of payment timings that impact your cash flow. The cost of a BACS payment in comparison to CHAPS and Faster Payments is significantly lower and by using TransGlobal’s BACS service this will not only create savings for your business but also improve your payment delivery.