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What are typical Bacs payment charges?

August 4, 2020

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

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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.

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