More known as a method of being paid your wages than funding your casino, BACS is a less common way of getting your cash into your casino account but there are some sites out there which accept payments by BACS. As BACS is a familiar system to many it appeals to them when registering with a new casino.
What is BACS?
BACS is short for Bacs Payment Schemes Limited and is one of the simplest methods for moving money around and transferring funds from your bank account straight to your online casino account. As this system is so popular in the UK it is understandable some players want to be able to use it to keep their accounts topped up.
Since BACS was first developed there have been more than 110 billion transactions via this method and there are records constantly being made and smashed as more and more cash goes into and out of UK bank accounts.
The History of BACS
BACS was first introduced as an electronic transfer of funds method between banks in 1968 as the Inter Bank Computer Bureau looked for a way to improve the clearing system and taking out the need for a complex paper trail. In 1971 the IBCB was renamed the Bankers Automated Clearing Services and by 1986 this company was simply Bacs Limited.
Things changed further by 2003 as Bacs Payment Schemes Limited was split off separately from Bacs Limited and run as a not for profit organisation with a board of banking industry members in place to promote the use of and setting of exact rules for automated payments.
Bacs Limited continued as the owner of the infrastructure on which BACS payment systems were run and this only changed in 2004 when they became Voca Limited who then once again changed after a merger with UK switch provider LINK Interchange Network Limited, which took place in 2007. VocaLink is the company that now owns the infrastructure along which payment schemes operate.
Making a Casino Deposit via BACS
Choosing BACS for your casino deposits may make logical sense as you use it for other purposes but it is important to remember that this is quite a slow process when compared to newer electronic payment methods. This type of payment may take up to five working days to complete but it has the benefit of choosing between debit or credit payments each time and you can make withdrawals directly into your bank account. It is also a payment scheme which is strictly regimented and has rules it must follow and this means you can be safe in the security it offers.
Making a BACS payment at your chosen casino is a quick process when it comes to putting it through, it’s only the processing which takes a little bit longer. You can access the BACS deposit method via the Cashier/Banking page of your chosen site and from here you can simply follow the on-screen instructions and soon have the payment in the processing system.
This isn’t a popular method of deposit for casinos in general but you can find the casinos which do offer this type of payment below.