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BACS Bureau
1st Choice BACS is a
commercial BACS Approved Bureau (BAB).
To ensure that BABs operate
to the highest standards, BACS carries out regular inspections of approved
bureaux who must undergo and pass an inspection review covering risk
assessment and management in five categories;- Organisation and Policies;
Physical Security; Computer Operations; Systems and Application Support and
BACS Operations and Procedures. It is a comprehensive audit that requires
strict control and monitoring of standards.
What is BACS?
BACS
stands for 'Banker's Automated Clearing Services' and is a simple and cost
effective way to make payments directly from your bank account to another
bank account. It is the most popular way for suppliers and employees to be paid.
The advantages to you
No more
cheques to write or trips to the bank for cash.
It aids
your cash flow; you know exactly when the funds are leaving your account.
Detailed analysis and confirmation of payments made.
You can
use your BACS system to pay your suppliers and employees, in-fact
you could pay everything by BACS if you really wanted to.
Peace
of mind, knowing that you are dealing with a commercially approved bureau.
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