BACS WELCOMES DANSKE BANK AS NEW MEMBER

BACS announces Danske Bank as the first non-UK based bank member of BACS Payment Schemes Ltd (BACS)

[ClickPress, Fri Mar 10 2006] Danske Bank has become the first non-UK based bank member of BACS Payment Schemes Ltd (BACS).

BACS is the membership-based, industry body responsible for the processing of electronic payments in the UK. Its current Members include 13 of the UK’s leading banks and building societies.

Danske Bank, the largest bank in Denmark and a leading player in the Scandinavian financial markets, will now join the existing members in overseeing the running of BACS and its Payment Services including Direct Debit and Direct Credit. The membership furthers Danske Banks interests in the UK after acquiring Northern Bank at the end of 2004.

Michael Chambers, Managing Director of BACS said; ‘We are pleased to welcome Danske Bank as a BACS member bank and our first non-UK member. Since the creation of BACS Payment Schemes Ltd at the end of 2003, we have been working towards making Membership of BACS more accessible. This latest news shows that we are already some way to achieving this objective.”

For further information on BACS or becoming a BACS member please visit www.bacs.co.uk.


-Ends-


About BACS Payment Schemes Ltd (BACS):
BACS has been at the forefront of delivering efficient, reliable and secure electronic funds transfers between banks and businesses for almost 40 years.

As a membership-based 'not-for-profit' industry body, owned by some of the UK and Europe’s leading banks and building societies, BACS develops, enhances and promotes the use and integrity of automated payments and payment related services.

Through its two principal electronic payment services, Direct Debit and BACS Direct Credit, it is responsible for the processing of more than 5.1 billion financial transactions a year, with in excess of 75 million payments on a peak day.

BACS’ success is based on its ability to improve technology for the benefit of banks, businesses and consumers. Since 1 January, payment files are delivered via BACSTEL-IP, a new delivery channel developed in response to the rapidly growing demand for electronic payment services. It provides businesses with the highest level of security in payment submissions, even faster payment confirmation and the ability to track the status of payments online.
For further information please visit www.bacs.co.uk.

Bookmark this release: Del.icio.us - Digg - Furl - Blinklist - Reddit