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Old 10-23-2008, 03:02 AM   #1
GfBTWMmV

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Default BACS , safe to recieve payments that way ?
BACS, anyone got any experience using it and is it a safe way of getting a direct payment from someone? I have looked on google but cant find any information about how safe or good it is compared to other ways of payments.
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Old 10-23-2008, 03:15 AM   #2
Anfester

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In my experience it's very safe, I use it to pay out £1000 a month into 3 different accounts, I think it costs about 30p or something but I'm still on free business banking so I'm not sure on that.
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Old 10-23-2008, 03:15 AM   #3
NickGrass

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BACS is usually a one way transaction,and is the preferred way of most employers to pay individuals.
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Old 10-23-2008, 03:54 AM   #4
GfBTWMmV

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Thanks.

What would I need to send to the people paying me into my bank via BACS / Direct payment, would they need a 6 digit BACS number or something else?
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Old 10-23-2008, 03:56 AM   #5
Zysyewgg

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BACS is perfectly safe, as someone has already said, most employers use it for wage payments. Also back when I was working in Insurance all the payments we made (that were not physical cheques) were made via BACS, all we ever needed was the Sort Code and Account Number of the payee account.
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