If you are required to transmit batches of payments at any one time then First Trust Bank can sponsor you as a user of the BACS Direct service. The service provides you with a direct electronic link to BACS so that you can process high volumes of transactions simply and efficiently. If you will be processing less then 5,000 transactions at any one time, then iBusiness Banking will meet your needs.
- Facility allows you to process large volumes of transactions by direct transmission either via BACS approved software or through a BACS approved Commercial Bureau.
- First Trust Bank is required to sponsor you as a BACS user.
- This service involves a direct relationship with BACS. Your branch is not involved in the transfer of funds, once the service is set up.
- A maximum BACS file limit is agreed between First Trust Bank and you, with this limit representing a contingent liability.
- You retain full control of when funds are transferred.
- Allows you to process large volumes of transactions at one time.
- Increased processing flexibility - you can transmit payments up until 22:30, two days prior to payment date.
- Manual administration processes and paperwork is removed.
- Improved cash flow management.
- Bank charges reduced compared to cheques or cash.
Business customers with a requirement to transmit large volumes of payments at one time.
Please contact your branch for further information and support with selection and completion of the correct Bacstel-IP documentation.
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