The Many Advantages Of Our BACS Approved Bureau
When you outsource your payroll to us at Pay Check there are many advantages. Apart from any other consideration, your payroll will be done on time, every time, and it will be accurate, because we have systems in place to double-check that every payment and tax return is correct. So, you have no fears of fines from HMRC for making an error.
Another important point is that we are a BACS approved bureau, and that allows us to carry out BACS payroll in London. This has benefits both for you and for your employees. We can pay salaries or wages by BACS Direct Credit which gets rid of all the hassle of preparing, checking, and collating cheques and then posting them out to your employees. It also means that you don’t have the cost of cheques, stationery and postage charges.
All you need to do is to send us a single payment, and therefore a single debit from your bank account on the specified date. This means that you will not need to track individual payments. It also means that your money is in your account and working for you right up until the last minute.
Using our BACS payroll in London with BACS Direct Credit means that all we need is the name of the payee, their bank, the sort code, and the account number.
Instant Cleared Funds
From the point of view of your employees, the BACS Direct Credit will arrive in their account instantly as cleared funds, so they can withdraw cash or earn interest straight away. That also means that they don’t have to visit their bank in order to deposit a cheque and then wait three days for it to clear. In addition, there is no chance of their payment being delayed in the post or getting lost or stolen.
Not only that, but your money is secure. Although we are a BACS approved bureau, we are also audited regularly by BACS inspectors to ensure that our payment processes and security are compliant with BACS requirements.
BACS has been making automated payments since 1968 and according to recent research has never made an error in over 130 billion (that’s with a “b”) transactions over all those years.
If you wish, you can also use us as a BACS approved bureau to collect direct debit payments from your customers / clients. It is a very simple way to collect payments, either one-off or recurring.