What are typical Bacs payment charges?

A Bacs payment is the cheapest way to send payments. It only costs a few pennies, mostly depending on the volume and the bank, or Bacs bureau. When sending say 1,000 plus payments monthly this should be less than 10p, also watch out for hidden bank charges such as:

  • Bacs File charges
  • Charges on rejected Bacs files (up to 100 pounds)
  • File re-input or amendments (up to 300 pounds)
  • File reversal (up to 2,000 pounds)
  • Smart Cards

Find out here about bacs payment times

Alternatives to Bacs payments

Bank to bank payments can also be made through CHAPS and the Faster Payments system. CHAPS are same day payments for high value transfers which cost about 20-30 pounds per transfer. Faster Payments are instant payments up to the value of 250,000 pounds per transfer, much cheaper than CHAPS.

Find out more about Faster Payments?