Bacs is the organisation responsible for the rules, or schemes, behind the automated clearing and settlement of Bacs Direct Debit (cash collections) and Bacs Direct Credit (payments). VocaLink, a separate company associated with the Bacs payment schemes, is responsible for the processing infrastructure or payment rails.
Bacs is also responsible for the provision of managed services for third parties, such as the Cash ISA Transfer Service, and the development and subsequent ownership of the Current Account Switch Service. In 2016, Bacs payments numbered 6.25 billion worth a total of £4.8 trillion.
Bacs is a not-for-profit entity owned and administered by its member banks, a list of which can be found on the Bacs website.