BACS Payment Schemes Ltd
The Government acknowledges that the Bacs payment system is of critical importance to the UK financial system and has confirmed that it meets the recognition criteria set out in the Banking Act 2009.
Since its inception, over 110 billion transactions have been debited or credited to British bank accounts via Bacs. And, in 2015, 6 billion UK payments were made this way with a total value of over £4.5 trillion.
Bacs is a membership company limited by Guarantee.