CASHBACS - network image





How Does It Work



What is BACS?
Why use BACS?
Can anyone use BACS?
What is Direct Credit?
What is Direct Debit?
What is a BACS approved Bureau?
What is a Service User Number (SUN)?
How do I get a SUN?
Which banks do you work with?
What software solutions do CASHBACS provide?
What are the System requirements?
Will my bank charge me for using BACS?
How long will it take to set up?
Can I transfer my existing service user number over to Cashbacs?
Can I link with my accounting package?
How many people can be set up to use the software on any one licence?
What is WebBacs?
What is the difference between DebBacs and DebBacsFM?
What level of support can I expect?
Can I process my files in advance?
What is the submission cut off?
How long is the BACS cycle?
Can I receive my BACS report through my Cashbacs software?
What is AUDDIS?
Why do I need a contingency bureau?

 

What is BACS?

BACS is a United Kingdom scheme for the electronic processing of financial transactions. Direct Debits and Credits are made using the BACS system. BACS transactions take three working days to clear: they are entered into the system on the first day, processed on the second day, and cleared on the third day.

 

Why use BACS?

When sending a transaction through BACS, it avoids the need for paper documents as part of the money transfer process and is time efficient. It is one of the UK’s inter-bank funds transfer facilities and is effective, secure and widely accepted as the modern approach to funds transfers. It minimizes the need for writing and banking cheques, and the associated administration. The service provides a minimum 3 banking day processing cycle.

 

Can anyone use BACS?

Yes. The size and nature of your business is irrelevant however you must first have approval from your bank for Direct Credit transactions. Here at Cashbacs we have clients ranging from Sole Traders to multinational organisations.

 

What is Direct Credit?

Direct Credit is mainly used for paying wages and salaries - in fact over 90% of the UK workforce is paid via Direct Credit. In total, Direct Credit is used for paying four million wages every week and nearly 25 million salaries a month. Direct Credit can also be used for supplier payments, pensions, Inland Revenue payments and expenses.

 

What is Direct Debit?

A Direct Debit is an instruction from a customer to their bank or building society authorising an organisation to collect varying financial amounts from their account. This can be used to ensure regular, safe and efficient payments of anything from household bills to charitable donations. Over 2.8 billion Direct Debit payments are processed by BACS a year and 75 % of adults now have at least one Direct Debit commitment. For further information on how to set up a Direct Debit to help keep accounts in order, please contact your bank or building society.

 

What is a BACS approved Bureau?

The BACS Approved Bureaux Scheme (BABS) is for computer bureaux that submit transactions through the Bacs service on behalf of third party organisations.

All bureaux must submit to a triannual inspection to ensure they meet the standards set by the scheme.
Over half of the organisations using the Bacs service make their Direct Debit and Direct Credit payment submissions through our approved bureaux rather than submitting directly to BACS. Bacs inspectors review the appropriateness of the bureaux to ensure they meet the standards set by the scheme. Here is a list of Bacs approved bureaux.

 

Why use a BACS Bureau?
Organisations choose to use a BACS approved bureau (BAB) for a number of reasons:

- they may only make a small number of Direct Debit and BACS Direct Credit transactions each month,

- they might be unable to fulfil all of the criteria to be able to make direct submissions themselves to BACS

- they may be a newly established organisation

- they might be an SME (small to medium enterprise) with a relatively low turnover.

But, whatever the reason, with almost 600 BABs throughout the UK accessibility to Direct Debit and Direct Credit services is greater than ever before.

 

What is a Service User Number (SUN)?

A service user Number (SUN) is how your business is identified by BACS and enables you to make Payments or collect Direct Debits via our bureau without this number a business cannot proceed with any Bureau.

 

How do I get a SUN?

You need to contact your bank or BACS department and ask for an Indirect Submitter’s application form. There are different criteria for each bank to meet their requirements for a SUN but broadly speaking, you can liken it to applying for a credit card – each request is based upon individual circumstances.

 

Which banks do you work with?

Our bureau is completely independent and not tied to any bank/building society. Therefore, providing you are able to obtain a Service User Number (SUN)) from your bank/building society, we can welcome you onto the Cashbacs systems. However, even without a Debit SUN, you can still use our DebBacsFM service for collections.


What software solutions do CASHBACS provide?

Click
here to see our software solutions

 

 

What are the System requirements?

Currently all Cashbacs Software run on a Windows platform from Windows 95 through to Windows Vista. The only other requirement is an internet or modem connection to enable the transfer of files in to the Bureau.

 

Will my bank charge me for using BACS?

This varies from Bank to Bank, some banks do not charge for BACS transactions other charge both a File and a transaction charge. In all instances please refer to your bank relationship manager to negotiate any charges that will be applicable to your business.

 

How long will it take to set up?

The set up is in two stages:

The Bank...

Your bank will need to assign you a Service User Number this can take anywhere from two weeks upwards. To obtain a SUN you will need to ask your bank for Indirect Submitter’s application form.

Cashbacs International Limited...

We aim to turn around all applications within 48 hours of receipt, we will then send out all the relevant paper work to our customers including the software by first class mail.

 

Can I transfer my existing service user number over to Cashbacs?
Of course, please contact your banks BACS department and ask them to add Cashbacs to your SUN. Our Bureau number can be requested from the Support team.

 

Can I link with my accounting package?

All of the Cashbacs software whether it being crediting or debiting has an option to import files from a payroll/accounting/membership software. We accept BACS files, Text files and Comma Separated files. Please feel free to send a sample file to our support desk at support@cashbacs.co.uk where a member of the support team will be happy to asses and confirm the import type to you.

 

How many people can be set up to use the software on any one licence?

For all of our systems, we allow for up to two Master Users (system administrators) and up to eight Standard Users. Both Master and Standard Users are enabled to submit files into our bureau for submission to BACS. The Master User is also responsible for adding/removing other users and pin number alterations. Our software can have between one and three people included in the transmission process for added peace of mind.

 

What is WebBacs?
Our WebBacs software is provided to all customers requiring the use of the Direct Credit system. The software is easy to use and allows users to process files manually by typing in the amounts to be paid next to the relevant account or by importing a file in from a payroll or accounting system.

 

What is the difference between DebBacs and DebBacsFM?

Both of these services provide collections from your customer’s accounts. The critical difference is that DebBacs is for our clients who are able to obtain their own debit SUN and DebBacsFM (Facilities Management) is for those who cannot.
The DebBacs service will mean that all monies collected by you are transferred directly into your own bank account. With DebBacsFM, all monies are collected under our SUN into our client bank account, and are then re-distributed out to you through our weekly processing schedule.

 

What level of support can I expect?

We pride ourselves on our high level of customer service and support. We run a dedicated UK based team who operate the Support Desk. The Support Desk is operational during our normal opening hours, and for many of our clients, they appreciate the personal touch and attention to detail we offer. Our approach is to gain complete customer satisfaction and confidence with a competent, continual service.

 

Can I process my files in advance?

Yes. Our system allows for files to be submitted into our bureau up to 30 calendar days in advance. This facility is valuable to our clients for a number of reasons, for example, your staff holidays and when your accounts are only processed at particular times of the week/month.

 

What is the submission cut off?

Cashbacs International Ltd is open from 8:30am – 7pm every English banking day throughout the year. Last submissions into the bureau can be made right up until 7pm, when our last daily submission is made into BACS.

 

How long is the BACS cycle?

BACS submissions take three working days to clear. They are entered into the system on the first day, processed on the second day at BACS, and cleared on the third day.

 

Can I receive my BACS report through my Cashbacs software?

Currently this system is unavailable however we hope to have this option available to all users providing we have permission from your bank to do so in the near future.

 

What is AUDDIS?

The AUtomated Direct Debit Instruction Service (AUDDIS) enables organisations to send or cancel Direct Debit Instructions to their customers' bank electronically, instead of in paper format.

AUDDIS automates the transfer of Direct Debit Instructions from collecting organisations to the paying banks and building societies via the Bacs service. With AUDDIS, the organisation keeps the original signed Instruction and electronically sends the details to the customers' bank to validate and, if accepted, set up the Instruction.

By automating the exchange of Instruction details between organisations and banks, manual handling is reduced leading to fewer errors. Instruction details are processed faster and more efficiently.

Any invalid Instructions rejected by the paying banks and building societies are returned via the Bacs service using ADDACS (Automated Direct Debit Amendment and Cancellation Service) report.
Benefits.
• You benefit from reduced paper handling
• Your customers enjoy a better quality service through fewer manual keying errors
• Overall, the Direct Debit Scheme is improved, as is its public image



Why do I need a contingency bureau?

In an ideal world, nothing ever goes wrong. However, here at Cashbacs, we understand that there may be times when your usual BACS route is not available to you, for example, internet connectivity problems, software failure and supplier failure to name but a few. Files can be brought across to Cashbacs using a number of methods depending on your circumstances and imported through our advanced systems, and your collections/payments will be submitted to BACS for processing that day. Each client’s difficulties during a contingency situation will be assessed instantly through our Support Desk and our team of experts will advise you as to your best course of action depending on your circumstances.