BACS (Bankersâ Automated Clearing System)
Definition of what BACS (Bankersâ Automated Clearing System) stands for (in finance):
A payment system in the UK for processing electronic financial transactions, including direct debits and direct credits.
More Term Definitions
- Back-Office
- Return On Investment (ROI) Definition
- Automated Clearing House (ACH)
- Electronic Banking Internet Communication Standard (EBICS) Definition
- Identity Verification Definition