Presented by KIS Finance
BACS stands for 'Bankers Automated Clearing Services'.

What does BACS stand for?

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BACS stands for Bankers' Automated Clearing Services. It is a system in the United Kingdom that allows for the electronic transfer of funds between bank accounts. BACS is used for various purposes, such as direct debits, direct credits, and electronic payments. This system provides a convenient and efficient way for businesses and individuals to make and receive payments electronically, reducing the need for physical checks and cash transactions. BACS has significantly streamlined the payment process, making it easier and faster for people to manage their finances.

BACS stands for 'Bankers Automated Clearing Services'.
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