Bacs (UK) payment timings
Timings
If you are creating a payment for a customer, with an active authorisation, it will take 3 business days before the customer is charged. For new customers, without an active authorisation, it will take 4 business days before the customer is charged, as the authorisation has to be set up first.
In addition to this, if a payment is created on a weekend or bank holiday, the process will begin on the next working day.
Once the customer has been charged, it will take a further 2 business days before the funds are paid out to you and received by your bank.
Please note: The timings are based on the payments being collected as soon as possible. If a payment is created in advance, for example with a specific charge date, then the payment will be submitted automatically, 2 working days before the charge date.
|
Creation deadline |
D-3 at 4 pm (GMT) |
|
Charge date (D) |
Day 0 |
|
Payout received |
D+2 (Funds will typically reach merchants' bank accounts between 2-5pm on the payout day) |
International Payments
If you are collecting payments internationally with FX, please allow an extra 2-4 business days to receive your payout.
After a payment is created, it is submitted to the bank for processing on the next business day. The payment is then collected from the customer 2 business days after it is submitted, 3 business days after it has been created.
It is then paid out and received into your bank account 2 business days later (5 business days after creation).
The timings are based on the payments being collected as soon as possible. If a payment is created in advance, for example with a specific charge date, then the payment would be submitted automatically, 2 working days before the charge date.
Please note: 'Created' refers to the creation deadline - the latest day a payment can be created (at 4 pm UK time) to be collected from the customer on the charge date shown in the calendar example above.
Please note: BACS payment authorisations are set up in advance. If the customer does not yet have an active payment authorisation you will need to add an additional working day to the payment timings shown below.
FAQ’s
When will I receive the payment?
Approximately, 5 business days after the payment has been created.
What happens if I miss the daily creation deadline?
The payment process will start on the next business day.
What happens if there is a national public holiday where I am based / where I am collecting the payment from?
Payments are not processed on national public holidays and will move to the next business day. Payouts that are due to be paid out on a national public holiday will move to the next business day.