Payment by BACS
In order to make supplier payments quicker and more efficient we have now withdrawn weekly cheque payments. Cheques are now only raised on the last Thursday of each month.
Payment to all suppliers are now made by BACS, which is a direct payment into a nominated bank account. The BACS payments are produced on a daily basis and therefore the cleared funds will appear in the bank account within three working days.
About BACS payments
We have introduced what we consider to be the most efficient payment service. There are a number of advantages for both of us:
- cleared funds are available on the day you are paid - unlike the time delay associated with cheques
- cheques may get lost or delayed in the post
- you are saved the time and trouble of paying cheques into your bank account
- accounting procedures are simplified and administrative costs reduced
This is a secure method of payment, details of your bank account number and sort code are held in a password protected IT system.
You may experience some delay in receiving your payment if your company only accepts a cheque payment.
If you are currently being paid by cheque and would like to change to BACS, please complete the BACS authorisation form and email it to email@example.com.