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Electronic Payment Solutions

ALBACS is the market-leading software solution for businesses to transfer funds electronically via BACS®. ALBACS replaces traditional paper-based methods of payment and collection such as cheques, giros and cash, with fast and accurate transactions at the touch of a button –reducing both time and bank charges. In addition, it can be used in conjunction with your finance system and is suitable for all organisations of all sizes. ALBACS is in use in many different application areas which include:

Direct Credit Uses for the payment of:
  1. Monthly / Weekly salaries and expenses
  2. NI and PAYE contributions
  3. Pensions
  4. Suppliers
  5. VAT

Direct Debit Uses for collection of:

  1. Credit card payments
  2. Mortgages and rent
  3. Lease payments
  4. Subscription payments

ALBACS features include:

  1. Account and sort code detail validation
  2. Euro currency support
  3. Multi-level password protection prevents unauthorised access
  4. Immediate acceptance confirmation
  5. Full audit trail
  6. Reports archive

Benefits:

  1. Reduced bank charges with savings of up to 80% over cash or cheque
  2. Operational time savings - the need for signing volume cheques is eliminated
  3. An increase in the efficiency of any accounts department

For more information, please contact us.

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