Have you considered paying your staff using our popular BACS payments service?
With charges per payment running at far less than those made by banks for cheque payments, this is another cost effective option to aid the smooth running of your administration. No more writing numerous, expensive cheques – as soon as you agree the payrun we instigate the payments from your account, to meet your payday.
Potential time and money savings to clients are as follows:-
- Avoid hand-writing numerous cheques – costing circa £0.65.
- No more mailing of cheques to external workers.
- No paper handling
- The most reliable payment method
- De-clutter your bank statements – only one entry appears per bulk instruction (you do receive a detailed breakdown of all payments however).
- The whole payment process handled for you as an extension to the payroll service – all we need from the client is to confirm the payroll reports and we do all the rest.
- Release key members of staff to work more beneficially for the business.
- Your monthly or quarterly liabilities payment to HMRC can also be included, as can payments to your suppliers.
In an attempt to keep our pricing structure as simplistic as possible, charges are as follows.
£100.00 per bank account
Transaction Charges (based on the number of transactions per instruction)
1 to 10 transactions @ £0.35 each
11 to 50 transactions @ £0.28 each
51 to 100 transactions @ £0.25 each
Over 100 BACS transactions @ £0.23 each
A minimum charge (per instruction) £3.00 exists – only instigated where the total transaction charges are under £3.00. In such instances the individual transactions are not charged.
An instruction containing 120 payments would cost £27.60 (120 x £0.23)
An instruction containing 24 payments would cost £6.72 (24 x £0.28)
An instruction containing 12 payments would cost £3.36 (12 x £0.28)
An instruction containing 6 payments would cost £3.00 (Min Charge)
All prices are subject to VAT.
To enable us to set this up, each client needs to obtain from their bank a BACS user number (also referred to as SUN), which we are aware that some banks make a charge for. We suggest talking to your bank is the next step!