On 1 May 2018, Bacs Payment Schemes Limited (the organisation behind Direct Debits in the UK) became a wholly owned subsidiary of the new home for UK retail payments, Pay.UK. The responsibility for the operations of Direct Debit, Bacs Direct Credit, the Current Account Switch Service, Cash ISA Transfer Service and the Industry Sort Code Directory were handed over to Pay.UK
Since its inception, more than 130 billion transactions have been debited or credited to British bank accounts via Bacs and, in 2017, 6.34 billion UK payments were made in this way. A new record was set on 28 November 2018, with 123 million transactions processed in a single day. in 2017 they processed more than 4.2 billion Direct Debit payments with a total value of £1.3 trillion!
It’s clear from these huge numbers that Direct Debit remains the payment method of choice for a huge number of people – in fact, almost 9/10 adults in the UK have at least one Direct Debit commitment, with 73% of household bills paid in this way. And why not? It’s quick, easy and flexible. There’s a lot going on behind the scenes that customers don’t know about to make Direct Debit processing happen so efficiently, whilst ensuring that customers’ money is handled with extreme care.
Here at SmartDebit, we recognise that in order to contribute to the successful growth of Direct Debit as a method of payment, we can help make the systems and processes that you use more effective.
Our specialised training has been created with customers in mind and here are just a few advantages you will gain by enrolling in one of our Direct Debit training courses:
- an understanding of how to maximise the use of Direct Debits to improve the cash flow in your company
- an understanding of the mandatory requirements of the Direct Debit scheme
- the ability to interpret and action Bacs reports - no more questions like “What on earth does this reason code mean?”
- confidence that you know what to do and when, prevent and, if necessary, deal with indemnity claims
- an understanding of how to become a Paperless Direct Debit Service User
- finally, but also importantly, have a little fun along the way.
SmartDebit is one of the UK's leading Direct Debit bureaux and accredited by Bacs to deliver training to the highest standard. For a smarter approach to your training needs, please call 01276 851800 or email firstname.lastname@example.org