Blogger
Share this content
0
6
2966

BACS bureaux - any offers?

I have a client looking to start paying their staff by BACS.  They bank with Lloyds and the bank manager says that they need to find a third party BACS bureau to process the file produced by the payroll software (Moneysoft) to make the payment.  He'll still charge £150 set up fee & batch fees in addtion to the bureau fees.  However, I have not yet found a bureau that offer this service - only ones that process payrolls that they manage (have been trying local-ish names on the bacs register).

Does anyone know of any bureaux offering such a service?

I have heard that Nat West can offer a direct processing service - so opening an account just for wages may be an option.  Anyone have any experience of that?

Thanks

Tracy

Replies

Please login or register to join the discussion.

Most high St Banks offer payment file processing

When you say BACS, do you mean paying money directly into staff bank accounts? BACS is one of many solutions for this. Like Hoover it is both the name for a specific solution AND a general concept, but unlike Hoover people often confuse the two, and will think that other near-identical solutions (from the point of view of the user) aren't acceptable if you ask about BACS..

For example the client's existing bank, Lloyds, has a product called Lloyds Link which can accept a payment instruction file produced by payroll software. Most High St banks have similar solutions. Nat West for example has its Bank Line product, which is probably what someone meant when they mentioned Nat West.

Thanks (1)

It's the BACS process

Thanks Tom. It was BACS the process I was asking about.  Lloyds appear offer several products - internet banking the cheapest (but requires manual input), LloydsLink cost £4 for each person paid (how do they justify that with faster payments???) plus a monthly fee of £12.50, telepay which is £250 set up and 32p for each payment and then the bacs solution is £150 set up, £4 per batch plus the bureau fee.  It's a bureau that I'm trying to pin down so we can assess the costs of all the options.

 

Thanks (0)

BACS

We are using Moneysoft and paying via BACS - using the ICAEW/ACCA/ICAS "approved" (if that is the right word) provider Credec www.credec.com....also now usig it to pay our own suppliers and paying suppliers for a client too.......

 

 

Thanks (1)

Credec - thanks

Thanks for that suggestion - I've just sent an contact enquiry to them to find out what the costs are.

 

Thanks (0)

BACS Bureau

I am the payroll manager of the partnership's payroll bureau and we have used CREDEC as our BACS bureau since November 2011 and I can highly recommend this service.

Since we have been using CREDEC we have never had a problem paying any employee for any of our clients, all of the people I have dealt with are very friendly when you contact them for any reason and totally efficient in the way they deal with any matters you may throw at them e.g. amendment of BACS payments, incorrect sort codes or even calling back an employees wages so their ex could not access the funds (this actually happened).

 

Thanks (1)