Payments

Bacs

Bacs is the UK payment method used for non-urgent, usually low-value and high-volume GBP payments.

Use Bacs for Direct Credits or Direct Debits

Bacs payments are ideal for processing large batches of UK payments that don’t require urgent same-day clearing. Bacs is often used for payroll, dividends, collecting bill payments and refunds.

Bacs Direct Credits

Submit Bacs Direct Credits payment files directly via HSBCnet or HSBC Connect, without relying on any third-party provider.

Efficient ways of handling large number of small transactions
File-based processing with bulk payment capability
3-day clearing cycle

Bacs Bureau

A Bacs Bureau is a third-party company that submits Bacs payments on your behalf, facilitating the payment process for you.

Efficient ways of handling large number of small transactions
File-based processing with bulk payment capability
3-day clearing cycle

Bacs Direct Debit

Bacs Direct Debit allows UK companies to collect GBP payments from your HSBC Innovation Banking account, if you have authorised them to do so.

Pay your company’s UK bills and commitments via Direct Debit
Simple way for you to pay recurring charges, automatically
Save time as you don't have to initiate the payment yourself
Protected by the Direct Debit Guarantee

Why use Bacs with HSBC Innovation Banking?

A reliable and trusted partner to ensure all your transactions are delivered accurately and on time.

Choice of Bacs payment methods

Make Bacs payments through HSBCnet, HSBC Connect or through a Bacs Bureau of your choice.

Low-cost payments

Bacs is the lowest priced transaction type available.

Improve efficiencies

Pre-authorise third parties to collect funds from your account using Bacs direct debit.

Should my business be using Bacs?

Our relationship teams have vast knowledge of payments and can help you understand which payment types will be beneficial for you now and in the future.