Sustaining growth in 2012 Annual Review Bacs, the not-for-profit, membership-based industry body, is owned by 16 of the leading banks and building societies in the UK, Europe and US. Responsible for the Schemes behind the clearing and settlement of automated payments in the UK including Direct Debit and Bacs Direct Credit, Bacs has been maintaining the integrity of payment related services for 44 years.

1. Sustaining growth in 2012
Annual Review

2. 1 Bacs annual review 2012
Bacs, the not-for-profit, membership-based industry
body, is owned by 16 of the leading banks and building
societies in the UK, Europe and US. Responsible for
the Schemes behind the clearing and settlement of
automated payments in the UK including Direct Debit
and Bacs Direct Credit, Bacs has been maintaining the
integrity of payment related services for 44 years.

3. Bacs annual review 2012 2
Foreword
Welcome to our review of 2012 – the
year was certainly a very busy one for
the team at Bacs, and we’re pleased to
share with you some of the highlights.
As ever, we’ll be focusing on key pieces
of work rather than taking you through
all of our “business as usual” activity.
The economic and financial sector
challenges continued although I’m happy
to report that Bacs has enjoyed another
successful year.
We broke another processing record at the
end of 2012, reaching more than 97 million
transactions in a single day, saw a level of
growth in Direct Debit volumes that we
haven’t experienced in the last five years – an
annual increase of 3.2 per cent is very healthy
– and we have been engaged with the wider
industry in some very high profile projects
which sit outside our normal business.
While the Bacs Direct Credit side of our
business did fall very slightly, this was
something which had been anticipated due
to the migration of Standing Orders to the
Faster Payments Scheme. In any case, the
increase in Direct Debit volumes almost
completely compensated for that. It seems,
despite all of the new and varied payment
options now on offer to consumers and
businesses, Direct Debit is as relevant as
ever, with a big role to play.
In addition, we were briefed by the BBA,
BSA and TISA to deliver a Cash ISA Transfer
Service, which we launched successfully in
October, and we have been heavily involved
in development of the new Account
Switching Service, scheduled for launch in
September 2013. We also continued to work
with HMRC on the very high profile Real
Time Information initiative. We weathered
the challenges of the Olympics extremely
well, despite the Games being held in our
own backyard – it gave us an opportunity
to put our remote working systems to the
test, and they operated perfectly. And we’re
also very proud that we raised £135,000
for a range of charities with our Big Break
campaign, which brought in over 2m new
transactions a year with a lifetime value of
just under £10m to the participating billers.
In addition, we are very proud to announce
that, in 2012, we became a carbon neutral
company, something we intend to build on
still further in 2013.
All in all, it’s been an exciting year, and the
team has worked extremely hard to deliver
a wide range of projects on top of our
normal day-to-day business running the two
Schemes. I am extremely proud of all of their
achievements. There is, of course, lots to
come in 2013 and I look forward to sharing
more with you then.
Michael Chambers
Managing Director

4. 3 Bacs annual review 2012
Our members
Bacs is owned by leading banks and building societies in the UK, Europe and the
United States of America, with current membership standing at 16. The range and
national origins of our members reflects the now diverse financial landscape in
the UK’s banking sector.
As a company which has stood the test of time, with more than four decades as an integral
part of the nation’s critical financial infrastructure, Bacs has long recognised the importance
of keeping pace with the ongoing evolution of the high profile financial sector. As such, the
company remains keen to welcome new members which meet membership criteria.
Our Board
Our board is made up of representatives of our member banks and, in 2012,
the board comprised:
Managing Director:
Michael Chambers
Bacs Payment Schemes Ltd
Chair:
To be announced
Deputy Chair:
Mike Roberts
Nationwide
Directors:
Joe McKnight
Allied Irish Bank
Matthew Hunt
Bank of England
Jon Maltman
Barclays Bank
Anupam Sinha
Citibank NA
Dave Sanders
Co-operative Bank
Andy McComb
Danske Bank
Martin Clark
HSBC
Anne Trolland
Lloyds Banking Group
Douglas Belmore
Clydesdale Bank Plc
Mike Roberts
Nationwide
David Greig
Royal Bank of Scotland
Robert White
Santander
Gordon Soutar
Virgin Money
Our committees:
Four main committees report in to
Bacs’ board. These are:
Rules and Governance
Audit and Risk
Operations and Compliance
Development Committee
There is a specialist Security Committee
which reports to Audit & Risk and we also
have a specialist Affiliates Interest Group.
Our members have a number of roles and responsibilities – they all:
• Settle at the Bank of England
• Underwrite the Direct Debit Guarantee
• Guarantee Bacs (Bacs Payment Schemes Limited is a company limited by guarantee)
• Fund Bacs
• Underwrite all risks incurred via Bacs
• Direct Bacs and determine its plans
• Use Bacs to support their customer propositions.
Membership details are available on the Bacs website:
www.bacs.co.uk/Bacs/Corporate/JoinBacs/Pages/BacsMember
2012 members
• Allied Irish Bank
• Bank of England
• Barclays Bank
• Citibank NA
• Coutts Co
• Clydesdale Bank Plc
• Danske Bank
• HBOS (Halifax and Bank of Scotland)
• HSBC Bank plc
• Lloyds TSB Bank
• Nationwide Building Society
• NatWest
• Santander
• The Co-operative Bank
• The Royal Bank of Scotland
• Virgin Money
N.B. Coutts, NatWest and The Royal
Bank of Scotland are all part of The
Royal Group. Lloyds and HBoS are part
of Lloyds Banking Group.

5. Bacs annual review 2012 4
Bacs and the UK payments industry
• The UK Cards Association (UKCA) is the leading trade organisation for the cards payment industry in the UK
• Its membership includes all major credit, debit and charge card issuers, and merchant acquiring banks
• UKCA contributes to the development of legislative and regulatory frameworks, and industry best practice and standards;
safeguards the integrity of card payments; and co-ordinates relevant industry-wide initiatives
The Payments Council was established in March 2007 to ensure that UK Payments systems and services meet the needs
of users, payments service providers and the wider economy. The Payments Council works closely with a number of contracted
schemes for the benefit of the UK payments industry
• Bacs is the not-for-profit, membership based, industry body responsible for managing Direct Debit and Bacs Direct Credit
• Bacs is owned by 16 of the leading banks and building societies in the UK, Europe and the US
• In 2012 over 5.66 billion UK payments were made through Bacs with a total value of £4.15 trillion
• A new record was also set in 2012, with 97.6 million items processed in a single day with a value of £23 billion.
• Faster Payments was launched under the auspices of CHAPS Co on 27 May 2008, and Faster Payments Scheme Limited was formally
incorporated on 24 August 2011
• Faster Payments has 10 members; the service enables immediate internet and phone payments 24 hours a day and also processes
standing orders
• Since the service launched more than one billion transactions have been processed to a value of £462bn
• CHAPS Co processes and settles systemically important and time-dependent payments through its CHAPS Sterling
payment scheme
• CHAPS membership is made up of 19 leading banks and building societies in the UK, Europe and the US
• A CHAPS payment is an electronic bank-to-bank same-day value payment made within the UK in sterling, generally used
for high-value interbank transactions
• The Cheque and Credit Clearing Company (CCCC) is a membership-based industry body with 11 settlement members. It manages
the cheque clearing system in Great Britain
• Members of CCCC are individually responsible for processing cheques to the accounts of their customers
• The CCCC also processes bankers’ drafts, building society cheques, postal orders, warrants and Government payable orders.
This includes management of the systems for clearing paper bank giro credits and euro-denominated cheques
Bacs is an integral part of the wider industry supporting UK payments of all types.
• LINK cash withdrawals can exceed £10 billion per month in value and at its busiest, LINK processes over 1 million transactions an hour.
• The number of cash machines in the UK has grown from 36,000 in 2001 to around 65,500 today.
• The number of free-to-use ATMs is at an all-time high of over 42,500.

6. 5 Bacs annual review 2012
2012 saw Direct Debit volumes increase by 3.2 per cent
over 2011, reaching almost 3.43 billion transactions.

7. Bacs annual review 2012 6
The payments landscape has moved
faster over the past decade or so than
it had previously for centuries – internet
banking, Faster Payments, contactless
cards, mobile wallets and apps are all
relatively new arrivals when it comes to
payment options.
But, while all of this high profile innovation
has been taking place, Direct Debit –
introduced more than 40 years ago – has
continued to perform efficiently and securely
in the background.
Direct Debit was the very first automated
digital payment option available to UK bill
payers and billing companies. Today, it is
more relevant, more popular and more
convenient than ever before, as evidenced by
its continued growth – 2012 saw Direct Debit
volumes increase by 3.2 per cent over 2011,
reaching almost 3.43 billion transactions.
Three quarters of the UK adult population
have at least one Direct Debit commitment;
most are for regular bills – in fact, research
shows that 72 per cent of household bills
are paid by Direct Debit. And it’s the way
most consumers want to pay; 64 per cent
of people prefer to pay most bills by Direct
Debit while 39 per cent would like to pay all
of their bills this way.
By contrast, Bacs Direct Credit volumes have
fallen slightly but this was not unexpected,
as Standing Orders moved under the remit
of Faster Payments.
All in all, we saw more than 5.66 billion UK
payments made through the Bacs system
in 2012, and we broke yet another record in
November when an impressive 97.6 million
items were processed on a single day –
that’s an increase of almost six million over
the record set previously, in 2011, for 91.9
million items.
Performance overview
3.43 billionnumber of Direct Debits
in 2012
97.6 millionrecord number of payments processed
in a single day in 2012: 97.6 million;
value £23 bn
£3.5 billionconservative annual cost saving estimate
for UK business using Direct Debit over
paper-based collection methods
64%of people prefer to pay most bills by
Direct Debit while 39 per cent would
like to pay all of their bills this way.
Bacs is on track to process its 100 billionth
transaction during 2013 – that’s the total
number of debits and credits applied to UK bank
accounts via Bacs since its inception in 1968

8. 7 Bacs annual review 2012
We touch the lives of millions of UK individuals and
thousands of businesses, through our Direct Debit and
Bacs Direct Credit products

9. Bacs annual review 2012 8
Delivering against our strategic goals
Our small but very busy team is
involved in a raft of activities, far
broader than most may suspect.
Our stakeholders are many, ranging
from bill payers to billers, banks,
businesses, financial bodies
and government.
We touch the lives of millions of UK
individuals and thousands of businesses,
through our Direct Debit and
Bacs Direct Credit products – not many
brands can be confident that at least three
quarters of the adult population will use
one of their products. But, in addition to
managing our popular and wide-reaching
Schemes, we are also involved in a number
of high profile industry initiatives. Here,
we’ve outlined for you just some of the
work carried out in 2012.
Quality assurance
The demanding Service Level Agreements
(SLAs) we have in place with our
infrastructure provider, VocaLink, were all
met at the highest of levels in 2012. Similarly
the banks’ Trust Provider performance also
reached a near-perfect performance against
its SLAs. We continue to monitor to ensure
these levels are maintained to provide an
exemplary service to all of our users.
London 2012
With Bacs’ head office close to the Olympic
Park, it was important to consider the
potential impact of the Games on our
business practices and our people. We
worked with our infrastructure provider
to assess our existing robust processes
and emergency planning against possible
issues arising because of the Olympics,
and put into place fully tested alternative
remote working options for our team to
ensure business continued to run smoothly
during that period. We were also involved
in the Payments Council-led cross-industry
Olympics Communications Group.
Operational excellence

10. 9 Bacs annual review 2012
Stakeholder requirements
HMRC – RTI
Changes to the PAYE system were piloted
in 2012 as the first stage of HMRC’s Real
Time Information (RTI) programme – aimed
at realising efficiencies in tax assessment and
collection, and in ensuring the correct level
of Universal Credit – was implemented.
As the new system involves tax information
being cross-matched with salary and wage
payments, the bulk of which are payments
made through Bacs Direct Credit, we have
been closely involved in the work throughout
the piece. At all times, we have remained
steadfast in our determination to protect the
integrity of our system, and the quality of
service experienced by our users, a position
which has been fully supported by HMRC.
The current RTI solution in the pilot scheme,
while Bacs-specific, has a minimal impact
on the Scheme. The payment file simply
carries a code enabling HMRC to match the
payment with tax information sent through
existing Government channels. The longer
term strategic solution has not yet been
announced but we understand this will
be scheme agnostic to ensure all relevant
payment methods can accommodate the
HMRC requirement.
Account switching
With the new account switching service
launching in September 2013, Bacs continued
to work closely with the Payments Council
and member banks on the development
and implementation of the programme
throughout 2012. Areas led by Bacs included
work on delivering an enhanced messaging
service and a central payment redirection
facility, managing stakeholder improvements,
and development of governance and access/
membership criteria.
The programme aims to deliver a clearer
customer proposition, consistency of service
and a guaranteed timeline for anyone
switching accounts.
We look forward to bringing you more on
this in next year’s report, when Bacs will have
taken on responsibility for the live service.
£20 million value cap
2012 saw the introduction of a value cap to
prevent payments of more than £20 million
being submitted for processing through
the Bacs system. With the system designed
to process a high volume of payments of
relatively low value, members of the Schemes
and our overseer, the Bank of England,
agreed that high value payments should be
processed via CHAPS rather than Bacs.
The cap was introduced in May, and banks
worked with affected customers to ensure
systems were in place to migrate current and
future transactions in excess of £20 million
to the CHAPS system. The final stage was
implemented on 22 October 2012 where we
set up system validation to enforce the rule
change – this means that any customer grade
transaction above £20 million is now rejected
automatically with advice to the submitter so
they can arrange for the payment to be made
via another method.
Impact on our service users is minimal as,
out of the 5.5 billion payments processed by
Bacs each year, only around 2,000 are above
£20 million in value.
CPSS/IOSCO principles
The Committee on Payment and Settlement
Systems (CPSS) and the International
Organization of Securities Commissions
(IOSCO) published new principles for Financial
Market Infrastructures (FMIs) in early 2012.
The latest principles built upon those already
in place, against which we already had a
good level of compliance.
Northern Ireland
Just under 1,000 businesses from all sectors
were invited to a free breakfast briefing
in Belfast, held in conjunction with Bacs’
Member banks based in the Province, where
the latest Bacs developments were shared.
Over breakfast in the iconic newly opened
Titanic Belfast on the slipways where RMS
Titanic was built, we provided an outline of
key industry projects and how they impact
service users. This included HMRC RTI, the
introduction of value caps and Account
Switching as well as talking about best
practice in the day to day running of a
Bacs process.
We also gave an overview of the Direct Debit
consumer marketplace in Northern Ireland,
and the tools and support, which are freely
available to help service users take advantage
of Direct Debits.

11. Bacs annual review 2012 10
Volume generation
Our dedicated marketing and volume
generation team continued to work with core
stakeholders looking to make more use of
Direct Debit payments within their business.
Typically, a biller can make a saving of
approximately £10 per year for every customer
who switches to monthly automated payment
from a paper-based payment, which provides
a very strong business case for increasing
Direct Debit adoption. The team provides free
of charge consultancy to major service users,
guiding marketing activities and generating
bespoke materials to enhance Direct Debit
adoption. They provide advice on audiences
most likely to be open to switching to
Direct Debit, drawn from our extensive
market research programme. There is also
a library of resources available to smaller
billers within our website’s Marketing Centre
of Excellence.
Collective marketing
Drawing on the success of our 2011 collective
marketing initiatives, we carried out three
collective marketing initiatives in 2012. The
London Campaign built on previous work
with local authorities in the capital, several
water companies joined forces for our second
campaign in their sector while The Big Break
brought together billers across the country
from different sectors. All were developed
with the clear objective of uplifting
Direct Debit volumes.
The Big Break campaign brought together
29 supporters across energy, water, local
authority, insurance and housing sectors.
The campaign was the driver behind over
two million new transactions per year with a
lifetime value of £9.89 million to participating
billers. In addition, we raised more than
£135,000 for charities across the country. The
campaign also enabled us to strengthen links
with one of our key national media titles, with
positive coverage and messaging appearing
monthly. The total PR reach was 185 million,
equating to every UK adult having been
exposed to the campaign via the media three
to four times over the course of the year.
Seventeen London local authorities took
part in the 2012 London Campaign, which
saw just short of a million people mailed
and an increase of between 1.3 per cent and
9.5 per cent in Direct Debit uptake among
the participating LAs. Almost 380,000 new
transactions per annum were generated,
equating to a cost saving of £362,000 across
all the councils involved. The initiative also
netted positive PR coverage for Direct Debit
in the capital, with more than 56 articles
appearing throughout the campaign.
We also developed a campaign specifically
for the water sector, with three water
companies taking part. The campaign did not
complete until the very end of 2012, so results
were not available at the time of writing but
initial reports from the participants were
very positive.
iPhone and Android Apps
Our free iPhone app, the Direct Debit Control
Centre, which launched in 2011, has proved
a resounding success – the app works by
programming reminders of when a bill
payment is due to go out, allowing users to
keep track of their Direct Debits. To date, it’s
been downloaded over 28,000 times.
Building on that success, an Android version
was developed in 2012 to extend availability
to a wider section of the bill-paying
population. The app launched at the end
of 2012, so we look forward to reporting
on its success in next year’s corporate report.
Bacs Family Finance
Tracker
Our regular consumer research continued
across 2012 with the Bacs Family Finance
Tracker providing valuable insight into
UK payment habits. The survey has been
quoted in high profile publications, including
the money pages of national newspapers
and websites. In addition, the volume
generation team shares the information
with key billers to help them understand
more about attitudes to bills, Direct Debit
and payments generally.
Help Centre
The Direct Debit Help Centre is still proving a
useful online resource as a first port of call for
consumers with any questions about Direct
Debit or who are looking for assistance.
The pages contain advice on setting up
or cancelling Direct Debits, as well as
information on the Guarantee; there are also
template letters for customers to use should
they experience a problem or if they want
to cancel a Direct Debit, and these were
downloaded almost 7,000 times in 2012.
new transactions per annum generated
by Big Break campaign
2.06m
number of downloads of our free
iPhone app since launch
28,000+
help centre downloads during 2012
7,000

12. 11 Bacs annual review 2012
Industry relations
Affiliates
During 2012, the Bacs Affiliates Interest
Group took on a new name as it
extended its scope to cover the wider
payments industry – the new Electronic
Payment Affiliates Interest Group now
also includes both CHAPS and Faster
Payments, as well as Bacs.
The group will continue to consult on
areas such as regulatory change, product
development and Scheme initiatives – and
we have welcomed the opportunity to now
be able to provide a broader view across the
wider electronic payments environment.
We ended 2012 with 45 organisations in the
Affiliates Interest Group ranging from agency
banks and financial institutions, service users,
Bacs approved software suppliers and Bacs
approved bureaux. It’s important for us to
ensure these members feel they are getting
value out of the Group and, as such, we
asked them to complete a satisfaction survey
in 2012 – we’re pleased to report that 100
per cent of the respondents said they were
satisfied with the current forum.
Affiliates benefits include:
• Receiving information and updates about
Bacs’ products and, where appropriate,
the wider payments market
• Having an opportunity to input into
topical debates
• Receiving advance details and having
the chance to influence and discuss
the impacts of Scheme developments,
innovations and new products
• Networking with other stakeholders in
the Bacs process
• Seeking ways to improve the Bacs
proposition through Straight Through
Payments (STP), efficiency/quality and
volume penetration
• Receiving briefings on forthcoming
regulatory change
• Receiving and debating research findings
• Having access to press releases and Bacs
marketing team collateral/resources

13. Bacs annual review 2012 12
Bacs Approved Software
Suppliers
The Bacs approved software programme
helps solution suppliers work to a set
of business and technical standards to
assist development of the software which
interfaces with Bacstel-IP – any supplier
developing, promoting and maintaining
Bacstel-IP software packages is required
to become a Bacs Approved
Software Supplier.
All software packages produced by Bacs
Approved Software Suppliers undergo
mandatory testing by Bacs, with staff required
to undertake appropriate training covering
Bacs and Bacstel-IP. Solution suppliers
successfully achieving approval – currently
there are 19 – can display the Bacs Approved
Software Supplier logo.
Bacs Approved Bureaux
Service
There are more than 760 bureaux included
within the Bacs Approved Bureaux Service
(BABS) which, together, accounted for over
700 million transactions in 2012 with a
combined value of almost £800 billion. The
bureaux enable thousands of businesses to
access both Bacs Schemes, and span the
UK and beyond, and yet more are applying
to join BABS – there were more than 50
new applicants in 2012. It falls to the BABS
inspection team to ensure each bureau
continues to meet all Bacs’ requirements,
with the inspectors carrying out just short
of 300 visits across the year.
Bacs Training
Accreditation Scheme
Our Bacs Training Accreditation Scheme
(BTAS) enables providers of Bacs-related
training to apply to have their courses
accredited, ensuring course content is up-
to-date and relevant to user needs. To date,
there are four companies offering BTAS
courses, assisting billers in gaining business
benefits, generating lasting improvements in
financial performance, and investing in and
motivating staff.
Cross industry working
Our role in a number of high profile initiatives
has involved working closely with other
payments industry organisations, both in
leading and supporting roles.
We were – and still are – active in the
various workstreams which are part of the
Account Switching programme, which will
be delivered in September 2013; we worked
with the BBA, BSA and TISA on the Cash ISA
Transfer Service, introduced in October; and
we were also wrapped in to the industry’s
Olympic Communications Group, which was
set up to ensure clarity and consistency of
messaging around any impact of the London
2012 Games.
BABS inspection review
The procedure is based broadly on British
Standard BS7799
Areas of inspection include:
1. Organisation and rules
2. Financial Information
3. Commercial Arrangements
4. Professional Services
5. Physical Security
6. Computer Facilities and Networks
7. Logical Access Control
8. Computer Operations
9. Business Continuity
10. Application and Systems Support
11. Customer Data Controls
12. Production of Bacs Data
13. Bacstel-IP Transmission Controls
14. Hardware Security Module (HSM) Option
15. Verification of Bacs Processing
Further inspections are undertaken at
three yearly intervals, or when major
organisational changes occur and follow
the same format.
Bacs Guideline “The Inspection
Process” is available at www.bacs.co.uk
to download.

14. 13 Bacs annual review 2012
Cash ISA Transfer Service
The new automated Cash ISA Transfer
Service was launched on 22 October
as part of a phased introduction, with
20 members in place from day one. All
providers scheduled to offer the new
service between launch and 31 January
2013 were on target to do so at the time
of writing this report.
The new service will enable an increase in the
quality and ease of transfer compared to the
existing Cash ISA transfer process, reducing
paper flow and increasing efficiency.
The Bacs team was tasked by the Cash
ISA industry bodies – the British Bankers’
Association, the Building Societies Association
and the Tax Incentivised Savings Association
– to lead on delivering the business
requirements behind an exchange of data
between cash ISA providers.
This substantial piece of work involved
multiple parties, and we are pleased to report
on its successful delivery.
Scheme management

15. Bacs annual review 2012 14
During 2012, Bacs strengthened
its environmental commitment by
becoming a carbon neutral company.
We achieved this in conjunction with
leading carbon management and
sustainability organisation, Carbon
Footprint Ltd.
The project involved us undertaking an
assessment of the carbon emissions that
resulted from the energy consumption of Bacs
processing (by our infrastructure provider)
and all business transport activities associated
with Bacs as an organisation for the year 2011.
In order to achieve ‘carbon neutrality’ as an
organisation, we undertook a subsequent
carbon offset programme through Verified
Carbon Standard (VCS) projects.
The VCS project chosen for this offset is
a Biomass Power Generation Project in
Sri Lanka. This aims to provide a solution for
the severe power shortage in the country
through generating power using sustainable
biomass sources instead of fossil fuels.
Additionally, Bacs has demonstrated its
commitment to the UK environment by
offsetting a portion of its energy consumption
with the planting of more than 400 new trees
in the UK. This programme forms part of an
overall carbon reduction management plan,
whereby processes and technological changes
are reviewed and behavioural changes are
introduced through communication, training
and awareness. We are proud to be a carbon
neutral organisation.
We remain committed to our corporate social
responsibility, and our charter outlines our
promise to contribute to a better society,
demonstrating how we are integrating
environmental and social concerns into our
business strategies and operations. Our
charter can be found on our website:
www.bacs.co.uk/csr
The Big Break
In 2012, we ran another collective marketing
campaign linked with generating donations
to charity as part of our CSR programme.
Building on our success in 2011, The Big Break
tied increasing Direct Debit adoption with
raising funds for charity – and 15 charities
benefited as a result. In total, we’ve raised
almost £300,000 in the last two years and
we plan to develop this still further in 2013,
generating even more donations and driving
volumes at the same time.
Corporate Social Responsibility
Staff retention and
development
Every year we participate in the UK
Payments Administration (UKPA) ‘Best
Companies Survey’ which looks at the
top places to work according to staff
feedback. Despite our excellent scores
for 2011, we committed to establishing
a plan to achieve better results – and
we’re pleased to report on our success.
The results released in the closing stages
of 2012 show that we have continued to
improve in every single area.
Key highlights
Bacs (equivalent) Best Company rating: 2*
and on the cusp of the highest rating of 3*·
Bacs scores have risen on each of the
eight factors considered by the survey
comparing favourably with the already
excellent Bacs result released in 2011.
We aim to better this still further for our
team for next year - given that Bacs is on
the cusp of the highest (3*) rating from
the Best Companies Survey our plan will
be to achieve this highest accolade.

16. Bacs and Bacstel-IP are registered trademarks of Bacs Payment Schemes Limited.
The ownership of all other marks are hereby acknowledged. ©Bacs Payment Schemes Limited 2013.
All rights reserved.
This report is printed on paper sourced from sustainable resources that are elemental chlorine free (ECF)
Contact information
2 Thomas More Square
London
E1W 1YN
0203 217 8379
Bacs service desk:
0870 165 0018
servicedesk@bacsservices.co.uk
Our websites
Corporate: bacs.co.uk
Consumer: directdebit.co.uk
B2B: paymedirect.co.uk