Why is using BACS better than simply paying my staff by cheque?
There are a number of reasons. First and foremost it’s less expensive, as most banks charge considerably more for processing paper transactions than they do electronic ones. Your employees get the satisfaction of receiving their pay in their accounts without having to visit the bank to pay in. Also it makes reconciliation easier for you, as regardless of the number of workers on a payroll run, there will be only ONE entry on your bank statement. Furthermore it’s a lot quicker for you; all you have to do is approve the figures by signing our authority, and fax it back to us.
