About Bacs
Founded in 1968, Bacs, the not-for-profit, membership-based industry body is owned by 16 of the leading banks and building societies in the UK and Europe.
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 over 40 years.
Since its inception, more than 84.9 billion transactions have been debited or credited to British bank accounts via Bacs. And in 2010 more than 5.7 billion UK payments were made this way with a total value of £4.06 trillion.
For further information please visit www.bacs.co.uk or go to www.thesmartwaytopay.co.uk, the home of The Smarts, an animated family who use automated payments to help improve financial management and control.
More about Direct Debit:
A Direct Debit is an instruction from a customer to their bank or building society authorising an organisation to collect varying amounts from their account. This can be used to ensure regular, safe and efficient payments of anything from household bills to charitable donations. Over three billion Direct Debit payments are processed by Bacs a year and 72 per cent of adults now have at least one Direct Debit commitment.
To learn more about setting up a Direct Debit to help keep your bank account in order, please contact your bank or building society.
The promotion
The promotion is being operated by Bacs Payment Schemes Ltd on behalf of 15 participating London councils. It is open to all council tax payers residing in the participating boroughs and registered to pay their council tax by Direct Debit on the closing date.