Bacs Payments

Bacs Payments are a secure electronic system to make and collect non-urgent, high volume and low value UK sterling payments directly from one bank account to another.

Bacs payments

 

Key features and benefits

  • Secure electronic remittance of regular payments directly via Bacs.
  • Efficient way to make and receive regular or non-urgent payments.
  • Industry standard payment processing cycle of three working days.
  • Improve debtor control, as you are notified of unpaid debits quickly.
  • Lloyds Bank offers assorted ways to submit payments to the Bacs Scheme depending on your business’ needs/Lloyds Bank approved ways to submit payments to the Bacs Scheme.

Direct Debit

A simple, secure and efficient way to collect payments directly from a bank account1.

Direct Debit is frequently used for regular payments such as household bills, subscriptions or charitable donations.

Why Direct Debit?

  • Efficient way to collect regular payments.
  • Able to collect variable amounts on irregular dates.
  • Improve payment collection rates and reliability of cash flow.
  • Direct Debit Guarantee protects customers from fraud and errors.

This is only available to businesses with a dedicated Relationship Manager.

Bacs Direct Credit

A simple, secure and flexible way to make payments directly into a bank or building society account.

Bacs Direct Credit is frequently used for regular payments such as salaries, pensions, expenses, insurance premiums or supplier invoices.

Why Direct Credit?

  • Flexible way to make single or bulk, regular or one-off payments.
  • Control the date the payment leaves your account.
  • Beneficiary receives cleared funds in their account on a known date.
  • Recall errors within a window with bank approval.

To submit Bacs payment instructions to the Bacs Scheme, businesses need a Service User Number (SUN) – a six digit reference number which identifies the business making Bacs Direct Credits or collecting Direct Debits. Businesses are able to apply to Lloyds Bank for sponsorship of a SUN.

There are two ways businesses with their own SUN are able to submit payment instructions to Bacs:

  • Via Bacs-approved software – Lloyds Bank’s approved software solution is Pay and Collect Online.
  • Via a bureau – Lloyds Bank has a bureau solution for the collection of Direct Debits – Pay and Collect Online Direct Debit Bureau.

Pay & Collect Online

Available to businesses with a dedicated Relationship Manager.If you have a dedicated relationship manager you will have a direct number for one of our team. Otherwise our Business Management team are here to help

Make and collect Bacs Direct Credits and Direct Debits directly using our online software.

Suitable for businesses with the resources to manage the preparation and submission of payment files.

  • Make Direct Credits and collect Direct Debits.
  • Add additional users and tailor their access.
  • Manage changes to payee details.
  • Remove the need to contract separately with a software supplier.
  • Businesses require a Service User Number.

Pay & Collect Online Direct Debit Bureau

Available to businesses with a dedicated Relationship Manager.If you have a dedicated relationship manager you will have a direct number for one of our team. Otherwise our Business Management team are here to help

Collect Bacs Direct Debits indirectly by submitting payment instructions using our online software. We’ll submit these instruction to Bacs on your behalf whilst ensuring you have visibility and control of your transactions.

Suitable for businesses looking for the convenience of a bureau to reduce cost of manual processing or have no system for managing the submission process.

  • Collect up to 200 Direct Debits a month.
  • Add additional users and tailor their access.
  • Manage changes to payee details.
  • Businesses require a Service User Number.

Businesses without their own SUN can submit Bacs Direct Credit instructions to Bacs via online banking. Or if you’re looking to collect Direct Debits but do not have your own SUN, we can consider a referral to AccessPay Suite – a Bacs-approved bureau and facilities management provider.

AccessPay Suite Direct Debit Collection

Available to Businesses with a dedicated Relationship Manager.If you have a dedicated relationship manager you will have a direct number for one of our team. Otherwise our Business Management team are here to help

Collect Bacs Direct Debits through a Bacs approved bureau. Suitable for businesses that do not have a Bacs Service User Number and are looking for the convenience of a bureau to reduce cost and manual processing.

  • Collect Direct Debits.
  • Add additional users and tailor their access.
  • Manage changes to payee details.
  • Eligibility is subject to AccessPay Suite’s approval criteria.
  • If you are interested in learning more about AccessPay Suite, please register your interest or speak with your Relationship Manager.

Bacs Direct Credits via Online Banking

Make single or bulk Bacs Direct Credit payments via Online for Business. Suitable for businesses that do not have a Bacs Service User Number and are looking to make Bacs Direct Credit payments in small volumes.

  • Make regular payments, such as wages and expenses.
  • Make up to 25 payments in one batch.
  • Schedule payments from two up to 30 business days in advance.
  • Store details of recipients for repeat payments.
Bulk Payments

Other payment solutions

Faster Payments

CHAPS Payments

Cardnet®

View all payment solutions

Apply now

In the first instance, please contact your dedicated Relationship Manager (Available 9am to 5pm Monday to Friday).

Otherwise, please speak to our business management team. We are available 8am to 6pm Monday to Friday and 9am to 2pm Saturday, except on UK bank holidays.

0345 072 5555

¹No maximum limit for collection other than that imposed by your cash in transit provider.

Cardnet® is a registered trademark of Lloyds Bank plc.