The Benefits of Using Bacs
Bacs stands for Bankers’ Automated Clearing System and is one of the most reliable payment methods used in the UK. In 2020, 345 million payroll related payments were made using this method.
We understand that choosing the right payment method is not always so simple, so to make things easier, we’ve put together some benefits to using Bacs, and how using Garbutt + Elliott’s Bacs Payment Services could be the best thing for your business!
One of the most defining features of using Bacs is its adaptability for specifically payroll. Most payroll and accounting software’s support Bacs files which makes sending Bacs a simple and straightforward process. This easy approach discards the need to track multiple payments, and eliminates the worry of loss, theft, or delays.
Bacs also provides users with added support through the use of their Third-Party Assurance Team (PAY.UK) which not only aids users with any queries, but also inspects bureaus such as ourselves. In doing so, Bacs maintain a high standard of controls and procedures that secure them as a reliable system for all users and allows individuals to feel confident about facing the decisions that come with choosing the correct payment method.
But why should you trust Garbutt + Elliott with making sure your staff and HMRC get paid?
We at Garbutt and Elliot are a fully approved PAY.UK Bacs Payroll Bureau which means we are efficient and professionally trained in this specific process. Our Bacs approved status means that we receive regular inspections from PAY.UK, which guarantee our clients with a service that is performed to the highest of standards. PAY.UK assess’ our team in 5 key areas including:
- organisation and financial information
- physical security
- computer operations
- applications and systems support
- Bacs processing and operations.
This in-depth inspection makes our service safe and secure throughout the entire process.
Allowing us to submit your payments creates several benefits for your business such as efficient and reliable payment submissions from our fully trained team and minimising the stress and risk around key payment dates. What happens when the individuals within your business who can authorise Bacs payments are unavailable due to holiday or unplanned leave?
Our Bacs Payment Services charges start from £20 per payment run.
So, is it time to let us take away the stress of paying your staff? Get in touch with our friendly payroll team today on email@example.com