BACS

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Related to Bankers Automated Clearing Services: Bankers Automated Clearing System

BACS

(bæks)
n acronym for
(Banking & Finance) Bankers' Automated Clearing System; a method of making payments direct to a creditor's bank without using a cheque
References in periodicals archive ?
Technical problems hit the Bankers Automated Clearing Services on Tuesday night.
The addition of PayBase expands the payment breadth of the i-Point platform, which already includes the Bankers Automated Clearing Services (BACS) standard for electronic payments.