1st Choice Payroll Limited is a commercial BACS Approved Bureau (BAB).
To ensure that BABs operate to the highest standards, we are subject to regular inspections of approved bureaux who must undergo and pass an inspection review covering risk assessment and management in five categories; – Organisation and Policies; Physical Security; Computer Operations; Systems and Application Support and BACS Operations and Procedures. It is a comprehensive audit that requires strict control and monitoring of standards. This is undertaken by a company called Wearepay.
What is BACS?
BACS stands for ‘Banker’s Automated Clearing Services’ and is a simple and cost-effective way to make payments directly from your bank account to another bank account. It is the most popular way for employees to be paid.
The advantages to you
It aids your cash flow; you know exactly when the funds are leaving your account and reduces the requirement for cheque/cash transactions.
It provides a detailed analysis and confirmation of payments made.
You can also use your employee BACS system to pay your suppliers as well, in-fact you could pay everything by BACS if you really wanted to!
It can provide peace of mind, knowing that you are dealing with a commercially approved bureau.
How we process your BACS payments
Following payroll processing you will receive an acceptance report from us detailing the amounts due to each employee. Once we have your approval, we send an electronic file with all the details to BACS. On your nominated payment day, the amounts are then transferred from your account to those of your employees.
A full report of all the requested payments is sent to you by BACS confirming the transfers.
What do you have to do to use this service?
If you are already registered as BACS User with your bank you will have a 6-digit BACS User Number, this will need to be assigned to our BAB Number. This is a usually a straightforward process and we will provide you with the relevant information.
If you are not yet registered as a BACS User, your bank can assist with this setup.