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		<title>What is the difference between Bacs and faster payments?</title>
		<link>https://gentongbet.com/what-is-the-difference-between-bacs-and-faster-payments/</link>
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		<pubDate>Mon, 26 Jan 2026 22:33:08 +0000</pubDate>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Bacs]]></category>
		<category><![CDATA[différence]]></category>
		<category><![CDATA[faster]]></category>
		<category><![CDATA[payments]]></category>
		<guid isPermaLink="false">https://gentongbet.com/what-is-the-difference-between-bacs-and-faster-payments/</guid>

					<description><![CDATA[When it comes to paying your employees, UK businesses have several solid options: bins and faster payments. Although both transfer [&#8230;]]]></description>
										<content:encoded><![CDATA[<p></p>
<div>
<p>When it comes to paying your employees, UK businesses have several solid options: bins and faster payments.</p>
<p>Although both transfer money from one account to another, Bacs and Faster Payments work very differently, and choosing the right one can make a real difference to security, administration time and cash flow.</p>
<p>This begs the question: what is the difference between them and which is the best option for your business?</p>
<p>Let&#8217;s break it down.</p>
<h2 class="wp-block-heading">What are BACS payments?</h2>
<p>The banks&#8217; automated clearing system, also known as Bacs, has been the backbone of payroll in the UK for decades.</p>
<p>Simply put, a Bacs payment is a digital method used to transfer money between different bank accounts – this includes transactions such as payroll processing, direct debits and payments to creditors.</p>
<p>Bacs offers a reliable and cost-effective option, designed to handle large volumes of batch payments.</p>
<p>However, Bacs is a &#8216;closed system&#8217;: to use it directly, your bank must issue you with a 6-digit Service User Number (SUN), which usually requires a specific turnover and a clean credit history.</p>
<h3 class="wp-block-heading">The payment process for Bacs</h3>
<p>Bacs payments are processed on a rigid three-day cycle:</p>
<ul class="wp-block-list">
<li><strong>Day 1:</strong> you submit the payment file to your bank</li>
<li><strong>Day 2:</strong> the payment is processed by BACS (the money leaves your available balance that day, even if the recipient has not yet received it)</li>
<li><strong>Day 3:</strong> the money arrives in the recipient&#8217;s bank account</li>
</ul>
<p>Because of this three-day cycle, BACS is ideal for regular, non-urgent payments, such as monthly payroll, direct debit collection and paying suppliers.</p>
<h3 class="wp-block-heading">How much does Bacs cost?</h3>
<p>Bacs&#8217; ability to handle bulk payments makes it extremely cost-effective, with transaction fees often amounting to just a few cents.</p>
<p>With Bacs, the price per transaction typically ranges from 5p to 50p.</p>
<p>However, don&#8217;t forget the &#8216;hidden&#8217; costs of Bacs: you often have to pay for Bacs-approved software licenses or use a Bacs-approved office, and if you make a mistake, application rejection fees can cost between £50 and £100 per incident.</p>
<h3 class="wp-block-heading">Presentation of the bac</h3>
<p>In summary, Bacs is the traditional payroll option for many businesses, taking a “slow and steady” approach. <strong/></p>
<ul class="wp-block-list">
<li><strong>Speed:</strong> takes 3 business days to arrive </li>
<li><strong>Cost:</strong> low fees per transaction (5p – 50p)</li>
<li><strong>Availability:</strong> Monday to Friday only – no weekends or holidays</li>
<li><strong>Flexibility:</strong> requires 3 days notice (can be called back)</li>
<li><strong>Volume:</strong> perfect for big prizes and high value amounts </li>
<li><strong>Ideal for:</strong> regular monthly paychecks where cost matters more than speed </li>
</ul>
<h2 class="wp-block-heading">What are faster payments?</h2>
<p>As the name suggests, Faster Payments is the fastest alternative to Bacs, offering instant transactions.</p>
<p>Faster payments are perfect for time-sensitive transactions, such as:</p>
<ul class="wp-block-list">
<li>Pay last minute supplier invoices</li>
<li>Correct a payroll error</li>
<li>Pay a newcomer who joined your team after your main pay cycle</li>
</ul>
<p>The goal of Faster Payments is to ensure that critical payments can be made and received without the delay associated with Bacs.</p>
<p><strong>Note:</strong> <em>the use of a faster payments platform that uses </em><em>Confirmation of Beneficiary (CoP) to verify that the name you entered matches the name of the bank account holder.</em></p>
<h3 class="wp-block-heading">How long do faster payments take?</h3>
<p>Faster payments were designed for the digital age: they let you send money that arrives almost instantly, usually within seconds.</p>
<p>The service also operates 24 hours a day, 365 days a year, including weekends and public holidays.</p>
<h3 class="wp-block-heading">How much do faster payments cost?</h3>
<p>The flexibility associated with faster payments comes with increased cost.</p>
<p>With faster payments, the price per transaction typically ranges from 30p to £2.50.</p>
<h3 class="wp-block-heading">Overview of faster payments</h3>
<p>Faster Payments takes a modern approach, offering much more flexibility but at a higher cost.</p>
<ul class="wp-block-list">
<li><strong>Speed: </strong>up to 2 hours, but usually arrives within seconds</li>
<li><strong>Cost: </strong>higher cost per transaction (30p – £2.50)</li>
<li><strong>Availability:</strong> 24/7, 365 days a year</li>
<li><strong>Flexibility: </strong>instant check – pay the day it’s due</li>
<li><strong>Volume: </strong>best for small batches or flexible on-demand payments, up to £1,000,000 per transfer</li>
<li><strong>Ideal for: </strong>weekly salary, expenses, or last-minute emergency payments</li>
</ul>
<h2 class="wp-block-heading">Bacs vs Faster Payments: the main differences</h2>
<p>When it comes to Bacs vs Faster Payments, the main considerations come down to four key factors: speed, cost, availability and flexibility.</p>
<h3 class="wp-block-heading">Speed</h3>
<p>Speed ​​is the biggest distinction.</p>
<p>BACS payments take three working days to clear, while faster payments are almost instant. <strong/></p>
<p>If you need money to move quickly, Faster Payments is the clear winner.</p>
<p>For scheduled payments, where timing is not critical, the three-day BACS cycle is perfectly adequate.</p>
<h3 class="wp-block-heading">Cost</h3>
<p>At first glance, Bacs is the most economical option, especially for bulk transactions, with the cost per payment being much lower.</p>
<p>Faster payments, being a premium service, come with higher transaction fees.</p>
<p>For a one-time urgent payment, the cost is often worth it, but for a large monthly payroll, these additional fees can add up quickly.</p>
<p>However, for many SMEs, the “list price” of the Bins does not tell the whole story: to use the Bins effectively, it is often necessary to take into account the “hidden” overhead costs.</p>
<h3 class="wp-block-heading">Availability</h3>
<p>BACS only works on working days – this means that if you submit a payment on a Friday, it will not arrive until the following Tuesday.</p>
<p>Public holidays also add to the Bacs delay.</p>
<p>However, Faster Payments operates 24 hours a day, every day of the year.</p>
<h3 class="wp-block-heading">Flexibility</h3>
<p>Although the three-day BACS cycle gives you a window to recall a payment if you detect an error before it is processed, you are still limited to its inflexibility.</p>
<p>In contrast, while faster payments are irreversible once sent, Instant Transfer provides more general flexibility when it comes to sending payments.</p>
<h2 class="wp-block-heading">Infographic: Bins vs. faster payments</h2>
<p>To help you visualize the differences in a simple format, we&#8217;ve put together this handy infographic, offering a quick overview of how Bacs and Faster Payments compare.</p>
<div class="section core-block bl-image ">
<div>
<figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-219686" title="What’s the difference between Bacs and Faster Payments? 2"><source type="image/webp" data-lazy-srcset="https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-668x1024.jpg.webp 668w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-196x300.jpg.webp 196w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-768x1178.jpg.webp 768w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-1002x1536.jpg.webp 1002w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-1335x2048.jpg.webp 1335w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-1920x2944.jpg.webp 1920w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-65x100.jpg.webp 65w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-420x644.jpg.webp 420w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-500x767.jpg.webp 500w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-630x966.jpg.webp 630w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-37x56.jpg.webp 37w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-241x370.jpg.webp 241w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-143x220.jpg.webp 143w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-183x280.jpg.webp 183w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-326x500.jpg.webp 326w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-98x150.jpg.webp 98w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-391x600.jpg.webp 391w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-212x325.jpg.webp 212w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-600x920.jpg.webp 600w" sizes="(max-width: 668px) 100vw, 668px"/><img decoding="async" width="668" height="1024" src="https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-668x1024.jpg" alt="BACS FPS Infographics 02 | What is the difference between Bacs and faster payments?" srcset="https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-668x1024.jpg 668w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-196x300.jpg 196w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-768x1178.jpg 768w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-1002x1536.jpg 1002w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-1335x2048.jpg 1335w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-1920x2944.jpg 1920w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-65x100.jpg 65w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-420x644.jpg 420w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-500x767.jpg 500w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-630x966.jpg 630w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-37x56.jpg 37w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-241x370.jpg 241w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-143x220.jpg 143w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-183x280.jpg 183w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-326x500.jpg 326w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-98x150.jpg 98w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-391x600.jpg 391w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-212x325.jpg 212w, https://iris.b-cdn.net/wp-content/uploads/2026/01/BACS-FPS-Infographic_02-600x920.jpg 600w" sizes="(max-width: 668px) 100vw, 668px"/>
</picture>
</figure>
</div>
</div>
<h2 class="wp-block-heading">Which payment method suits you best?</h2>
<p>There is no single “best” option when it comes to bins and faster payments.</p>
<p>The right choice depends entirely on your specific needs.</p>
<p>Choose <strong>Bins</strong> if:</p>
<ul class="wp-block-list">
<li>You process large volumes of payments, such as monthly payroll</li>
<li>Your payments are scheduled in advance and are not urgent</li>
</ul>
<ul class="wp-block-list">
<li>Keeping costs to a minimum is your top priority</li>
<li>You have a SUN issued by a bank</li>
</ul>
<p>Choose <strong>Faster payments</strong> if:</p>
<ul class="wp-block-list">
<li>You need to make urgent or last minute payments</li>
<li>You manage weekly payroll or pay staff according to flexible schedules</li>
</ul>
<ul class="wp-block-list">
<li>You appreciate the ability to make payments outside of normal bank opening hours.</li>
<li>You have no SUN</li>
</ul>
<p>Many businesses find that using a combination of the two services works best, using BACS for their predictable bulk payments and retaining Faster Payments as a tool for emergencies and time-sensitive transactions.</p>
<h2 class="wp-block-heading">Partnership with Telleroo</h2>
<p>By understanding the strengths of Bacs and faster payments, you can make an informed decision and choose the right option for your specific scenario.</p>
<p>At IRIS, we understand the importance of payroll – given it covers 1 in 6 people in the UK workforce – which is why we have now teamed up with Telleroo to offer our customers faster payments.</p>
<p>Learn more about our partnership and the options available here.</p>
</p></div>
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		<title>Solve candidate overload and filter resumes faster with AI</title>
		<link>https://gentongbet.com/solve-candidate-overload-and-filter-resumes-faster-with-ai/</link>
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		<dc:creator><![CDATA[gentongbet]]></dc:creator>
		<pubDate>Thu, 06 Nov 2025 00:50:43 +0000</pubDate>
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					<description><![CDATA[Recruiting top talent is essential for growth, but the process isn&#8217;t perfect for every type of role. For some, you [&#8230;]]]></description>
										<content:encoded><![CDATA[<p> <br />
</p>
<div id="content-wrapper" style="padding-bottom:var(--wp--preset--spacing--4)">
<p class="has-paragraph-2-m-font-size">Recruiting top talent is essential for growth, but the process isn&#8217;t perfect for every type of role. For some, you might post a job and find yourself buried under a mountain of applications, most from candidates who aren&#8217;t the right fit. Hiring managers can spend countless hours sifting through resumes, struggling to keep up with the volume while trying to give each candidate a fair chance. This is an overload of candidates, and represents a significant waste of time, resources and morale.</p>
<p class="has-paragraph-2-m-font-size">The cost of this inefficiency is enormous. This slows down recruiting, leads to inconsistent selection, and creates a poor candidate experience. Promising talent gets lost in the noise or accepts another offer while you&#8217;re still sifting through unqualified resumes. It&#8217;s time to stop drowning in administration and start building your team with confidence.</p>
<p class="has-paragraph-2-m-font-size"><strong>Employment Hero meets this challenge head on. </strong>We&#8217;ve developed a suite of powerful AI-powered tools designed to avoid chaos, automate heavy lifting, and put you back in control of your recruiting process. These features are designed to manage candidate overload, so you can focus on connecting with the people who will actually drive your business forward.</p>
<h2 class="wp-block-heading">Stop screening and start connecting with the recruiting agent</h2>
<figure class="wp-block-image size-large"></figure>
<p class="has-paragraph-2-m-font-size">First-round interviews are one of the biggest wastes of time in recruiting. The repetitive nature of screening calls, many involving candidates who are clearly not a good fit, is a frustrating and inefficient use of your team&#8217;s expertise.</p>
<p class="has-paragraph-2-m-font-size">Enter the Recruitment Officer, your new AI colleague. This feature automates first-round structured video interviews, completely transforming your initial selection process. Instead of manually scheduling and making dozens of calls, you can now automate the entire workflow. </p>
<p class="has-paragraph-2-m-font-size">Early results from companies using Recruitment Agent show huge <strong>46% reduction in candidate selection time.</strong></p>
<p class="has-paragraph-2-m-font-size">Here&#8217;s how it works:</p>
<ul class="wp-block-list">
<li class="has-paragraph-2-m-font-size"><strong>AI-generated questions: </strong>The system analyzes your job description and creates 4-6 structured interview questions covering motivation, behavioral and role-specific criteria.</li>
<li class="has-paragraph-2-m-font-size"><strong>You have control: </strong>You can view, edit, and approve questions and scoring rubrics before anything is sent to candidates. This ensures that the screening fully meets your standards.</li>
<li class="has-paragraph-2-m-font-size"><strong>Flexible for candidates:</strong> Candidates receive a link to a guided video interview and have seven days to record their responses. This removes scheduling hassles and allows them to perform at their best.</li>
<li class="has-paragraph-2-m-font-size"><strong>AI-assisted scorecards:</strong> The recruitment officer evaluates the responses against your criteria and provides a scored summary. You can instantly see top performers and review responses at your own pace, enabling your team to make faster, data-driven decisions.</li>
</ul>
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<h2 class="wp-block-heading">Instantly identify top talent with SmartMatch candidate ranking</h2>
<p class="has-paragraph-2-m-font-size">Even before the interview stage, identifying the most promising candidates from a large applicant pool is a significant challenge. Reading every resume is simply not scalable for a growing business.</p>
<p class="has-paragraph-2-m-font-size">Our SmartMatch technology acts as your intelligent pre-screening assistant. It automatically analyzes resumes and application data as they arrive, ranking candidates based on how their skills and experience match your job requirements. It&#8217;s not just a keyword search; it’s intelligent analysis that understands context and prioritizes your efforts.</p>
<p class="has-paragraph-2-m-font-size">Think of it as your personal recruiter, working 24/7.</p>
<ul class="wp-block-list">
<li class="has-paragraph-2-m-font-size"><strong>Instant prioritization:</strong> View a ranked list of candidates, allowing you to focus your attention on the most qualified people first.</li>
<li class="has-paragraph-2-m-font-size"><strong>Data-driven decisions:</strong> Go beyond your hunches and use objective data to guide your selection process from the start.</li>
<li class="has-paragraph-2-m-font-size"><strong>Discover hidden treasures:</strong> SmartMatch can identify strong candidates who may have been overlooked during a manual assessment due to unconventional resume formatting or wording.</li>
</ul>
<p class="has-paragraph-2-m-font-size">With SmartMatch, you can interact with top candidates 33% faster than before. It eliminates the noise of unqualified applicants and ensures you don&#8217;t miss out on top talent because they&#8217;ve been buried at the bottom of the pile.</p>
<h2 class="wp-block-heading">Streamline your sourcing with job board upgrades</h2>
<p class="has-paragraph-2-m-font-size">The easier you make it for candidates to find and apply for your positions, the better the quality of your candidate pool will be. Our own job board, Employment Hero Jobs, has undergone significant enhancements to improve the candidate experience and provide another powerful channel for attracting direct candidates.</p>
<p class="has-paragraph-2-m-font-size">A transparent application process is your secret weapon. When candidates already interested in your brand can easily discover and apply for positions, you get a higher caliber, more engaged candidate from the start. </p>
<p class="has-paragraph-2-m-font-size">Upgrades to our platform have already resulted in a 10% increase in screening speed, simply by making the entire journey smoother for both recruiters and candidates.</p>
<h2 class="wp-block-heading">It&#8217;s time to beat candidate overload</h2>
<p class="has-paragraph-2-m-font-size">The traditional approach to recruiting is no longer viable. Candidate overload is a real problem that costs companies time, money and talent. It’s time for a new strategy, one that leverages technology to amplify human capabilities, not replace them.</p>
<p class="has-paragraph-2-m-font-size">Employment Hero&#8217;s AI-powered recruiting tools are designed to do just that. Recruitment Agent, SmartMatch, and our job board upgrades work together to create an efficient, fair, and scalable recruiting machine. By automating repetitive tasks and providing data-driven insights, we enable you to hire faster, smarter and with confidence.</p>
<p class="has-paragraph-2-m-font-size">Stop letting administrative work get in the way of building a winning team. It&#8217;s time to reclaim your time and focus on what really matters: people.</p>
<p class="has-paragraph-2-m-font-size"><strong>Ready to transform your recruitment process? Explore our recruiting tools and find out how you can beat candidate overload for good.</strong></p>
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