0
BACS is an acronym for "Bankers' Automated Clearing Services."
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What does BP abbreviation stand for on your bank statement?
BP stands for Bill Payment - the payment has been transferred from another bank account. BP actually stands for BACS Payment. Which is Bankers' Automated Clearing Services'.
When was BACS created?
BACS was created in 1968.
What bank has sort code 30-16-35?
Bank of America NT & SA: London Swift ID BOFAGB22 This is a BACS sort code.
How may employees be paid?
check or cheque, cash, BACS (bank credit), in kind (food and lodging for example)
Who was the inventor of BACS electronic transfer of funds system between banks?
The inventor of the Bankers' Automated Clearing Services (BACS) was Dennis Gladwell. It was started in 1968 as a way to set up electronic bank transfers between banks, eliminating the need for paper documents.
What is a bacs payment?
Bankers Automated Clearing System a transfer of money electronically from one bank to another without a cheque or postal system.
What does bgc mean on a statement?
It stands for Bank Giro Credit. It generally means that a company has transferred money into your account via BACS or a government agency has paid benefits into an account.
What does gecrb sf on my bank stmt stand for?
what does gecrb sf on my bank statement stand for
What does bac on bank statement mean?
BAC, or BACS as it is sometimes called, stands for Bankers Automated Clearance System. Basically it's an automated payment. For example, a salary - your employers bank has your banking details, so they can automatically pay your wages when they are due.
What does the army term rbi mean?
Reasoning Behind Incident....when a SM is required to write an RBI, they are for all intents and purpose, providing a reason for the incident in question.
What is meant by the term safe bank?
Safe bank is a term to ensure that money in one bank is safe. The term safe bank can be related to the FDIC. Both of these terms have the same meaning.
What does fsb stand for in bank?
I believe it stands for Federal Savings Bank
