BACS
Pertains to both Bankers' Automated Clearing Services Limited and BACS Payment Schemes Limited, two names for the same company.
BACS 'is the organisation with responsibility for the schemes behind the clearing and settlement of UK automated payment methods Direct Debit and Bacs Direct Credit, as well as the provision of managed services for third parties. These include the Cash ISA Transfer Service, Biller Update Service and the development, management and subsequent ownership of the Current Account Switch Service.'
