BACS
Integrated payment processing, driving direct debit collections and direct credit payments.
Introducing BACs
ALLinONE Bacs is a highly automated payment processing service that allows Lifecycle to set up and collect direct debits and direct credits on behalf of a client. As a fully authorised Bacs Bureau service, payments are collected from the end user and paid directly into the client’s bank without the use of a holding account, improving the efficiency of payment collections and cash flow, and reducing costs and risks for organisations.
better cash flow
Funds are credited directly to our client’s bank account, improving cash flow and providing transparency of payments processed.
reduced operating costs
Use of Bacs minimises onerous administration and compliance requirements.
reduced financial risk
Clients using the Direct Debit payment method are fully protected by the Direct Debit Guarantee.
product features
complete payment collections
ALLinONE Bacs can be deployed with credit card collection to provide a complete payment collection service, designed to meet any customer’s requirements.branded communications
All notifications and communication to the end user are fully branded with the client’s details and their company name will appear on customers’ bank statements.direct credits and indemnity claims
Following completion of the automated daily invoicing cycles, the bureau’s automated processes will send direct debit collection requests to Bacs. Indemnity claims will be processed.
ALLinONE Bacs is deployed as an optional module within the ALLinONE BSS suite. Clients are required to transfer or set up a SUN (Service User Number) with their preferred bank, and all payments processed via ALLinONE Bacs will be deposited straight into that account. Also available as a standalone Bacs Bureau service via the Mydd application.
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