BACS Direct
Many businesses fail from lack of ready cash even though their profitability may be fine. Find out more about cashflow and what you can do to keep it under control.
Your account information at your fingertips.
A simple and speedy way to make and collect payments automatically
This service enables any business with suitable computer facilities to collect or make regular payments without the use of paper vouchers or cheques, cost-effectively and securely.
BACS Direct is suitable for any business that regularly receives or makes payments such as insurance premiums, subscriptions, salaries and wages, pensions, or interest payments.
Saves time
Funds are available for use as soon as they reach your account
Improved debtor control
To find out more, call into your local branch or call 0845 072 5555 to speak to one of our business managers.
Features & Benefits
- You supply payment details via Telecom/Bureau input.
- Accounts are credited and debited on the same day.
- For extra security, password access is provided for nominated personnel only.
- Improved cashflow as money is released and received on the same day.
- Reduced costs through less paperwork, postage and stationery.
- It eliminates book-keeping errors.
- Debtor control is improved, as you are notified of unpaid debits quickly.
- There is a set up fee of either £250 for Direct Debits or £150 for Direct Credits.
- The item charge will be either free or 10p depending on your chosen tariff.
Lloyds TSB follows the industry standard processing cycle of three working days. Find out more information about the cheque clearing process for automated payments.
View our Business Extra Tariff and Electronic Business Tariff.
Compare our tariffs side by side
How do I apply?
At your local branch
Drop in to your local branch to complete an application form.
By phone
Call 0845 072 5555 to make an appointment.
