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

What does BACS stand for?

Want to cheat? Click here to find the answer

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.

Question
BACS stands for 'Bankers Automated Clearing Services'.
Share on FacebookShare on X
  1. What is a bridging loan?
  2. When did pension auto enrolment commence in the UK?
  3. What year was the Half Penny abolished in the UK?
  4. What does Loan-To-Value mean?
  5. In what year was income tax first introduced in the UK?
  6. How many days would it take to become a millionaire, if you invested £1 in an account that doubled its contents every day?
  7. In monetary terms, how many zeros are there in one trillion?
  8. When was the London Stock Exchange founded?
  9. How big is the London Stock Exchange?
  10. What does 'Asset Turnover' mean?
  11. What does BACS stand for?
  12. What is the average size of a house or flat in the UK?
  13. When did decimalisation occur in the UK?
  14. When was the £1 note replaced by the £1 coin?
  15. In which year was the £2 coin first introduced in the UK?
  16. How many credit cards does an adult have in the UK on average?
  17. In which year did Barclaycard issue its first credit card in the UK?
  18. In which decade could the first ATM cash machine be used in London?
  19. In which year was the National Minimum Wage introduced in the UK?
  20. What is a Certificate of Good Standing or Certificate of existence?
  21. What is a CCJ?
  22. What does ERC stand for?
  23. What is a Guarantor Loan?
  24. What is an Indemnity Policy?
  25. What is Mezzanine finance?
  26. What does SIPP stand for?
  27. What is a CHAPS Payment?
  28. What does CHAPS stand for?
  29. What does APR stand for?
  30. What is a consolidation loan?