Founded in 1968, BACS is a service responsible for the settlement of automatic direct debit, direct credit, cash transfer. In addition, it is an account switch service provider. As of 2018, this wallet has become a subsidiary of Pay.UK, which is the UK’s national retail payment system.
“BAC” is the name of the national bulk payment system, and it is short for Bankers Automated Clearing Services. This method offers two main services; the first one is BACKS direct credit which allows companies to make bulk payments for their employees’ salaries. Starting from 2020, this method has been responsible for paying 90% of salaries in the UK.
The second method is “Direct Debit”, which allow companies to collect money from other parties’ accounts seamlessly. Also, individuals can use this service to make single internal transfers and regular standing orders.
Since its inception, this service has conducted more than 140 billion transactions with a value of +5 trillion pounds! That is a gigantic record and unprecedented amount that cannot be compared even with the whole volume of online transactions.
Online casino players can also use this method in many brands that hold the UKGC license, including BetVictor. This payment method is convenient and safe, but like with anything else, whenever there are advantages, there’s also flaws! In this guide, we will highlight all aspects of this payment method and learn how to use it.
How to Use BAC?
As we have previously stated, BACS is the UK bulk payment system. So, all UK residents can use it to receive money and pay bills seamlessly, without going to a certain place or even ticking a box on a digital form.
Let’s give an example to illustrate how this method works; Assuming that there is an employee called Harry who receives his salary directly in his bank account by BAC service. His account balance is always clear on the first of each month, whatever the circumstances, even if the first of the month meet a bank holiday, the payment is always present. Unfortunately, Harry is often away from home. Thus, Harry has set up direct debts to ascertain that his bills are all paid on time. Harry only makes sure that his bank account contains enough funds to cover bills on the due day, and the bank will do the rest.
In the early days of this method, it was dependent on conducting its operations through motorcycle & vans couriers. Nowadays, regular files have been altered with computers and high-speed connections. However, the inexorable 3-days processing times still apply to all payments!
The model of this protocol is quite clear: the company/ user requests a transfer to a party and submits the payment details to his bank. Then, the bank sends the payment details to the central scheme, BACS. After that, the scheme forwards the payment to the receiver bank account to complete the payment. In other terms, BACS allows payments from business to the person and from the person to other parties.
Does BACS Apply AML & KYC Protocols?
Yes, without a doubt. However, it does not implement these protocols by itself but rather depends on the banks applying them in the first place and their periodic review of your account. So, you don’t need to submit your personal documents each time you send/ receive funds through BACKS. Also, keep in mind that BACKS is only concerned with domestic transfers, while global money remittances are always subject to the AML checks. So, they usually take a long time between 3 – 5 bank working days.
How to Use BAC?
To use BAC payment, first, you need to set up an account on a bank that uses this scheme. At the current time, there are 16 of the UK’s leading banks are integrating this scheme out of 344 banks. The most prominent Bacs participants are: (Atom Bank, Bank of Scotland, Barclays Bank, and Citibank).
After setting up an account on a BAC bank, you have completed your path; Now, the bank will do the rest! All you need to do is use the transfer followed method in your bank to send/ receive transfers from casinos or any other party. Some banks require the sender to attend and make an in-person transaction at the local brunch, while others offer a wire transfer facility. Anyway, you need to enter the recipient’s bank details on the transfer page, enter the amount, pay the processing fees, and the payment will be made in three days.
The bank will send the payment info to BAC and instruct it to make the payment. Then, the scheme forwards the payment to the destination bank, and the payment is applied in a period of 3 working days. Note that it can’t be any faster!
To get the casino bank details, head over to the payments section and search for BACS or wire transfer logo, copy these details and paste them on the payment page on your casino. In most cases, you need to provide this data:
- Recipient’s full name
- Phone number
- Bank account details (IBAN)
- Routing number
- Purpose of transferring
How to Withdraw Funds Using BACS?
If you are lucky enough to amass some winnings from the casino. Unless if you decide to re-wager your profits, the first thing you will think about is withdrawing these profits to your bank account.
But before doing this step, you will need to submit your own documents to fulfill the KYC requirement. As this procedure is basically a legal demand, its application does not differ from one casino to another as you need to submit three documents, namely:
- Face and back photos of your valid ID, passport, or even driver license.
- Proof of mailing address that clearly shows your name and address. It can be a utility bill, bank statement, or phone bill.
- A bank account confirmation can be a screenshot of your account statement but must show your name along with other relevant bank info.
In most cases, this data will be verified internally within 1 to 3 working days. After which, the winnings can be cashed out to your bank account. It is worth noting that in order to use BAC payment in withdrawals, you should have made the previous deposit by this method. All online casinos conduct payments/ withdrawals through one channel only to avoid money laundering operations.
Typically, your first withdrawal will be the longest one, and you will likely contact the support service of both casino and bank, but they will not have anything to do even if they opened a ticket. So, you need to experience patience for some time. Your further withdrawals and deposits will be made in 3 – 5 working days.
BACS Limits & Fees
BAC charges significantly low fees on your transactions, making it the cheapest way for bulk and single domestic transfers. Although the final fee amount is determined by the bank or Bac bureau that you deal with, it doesn’t cost more than 10p. However, you should keep an eye on the banks’ hidden fees like:
- File charges
- Files re-input
- File reversal (the most expensive one and can cost up to £2,000 pounds)
- Smart cards.
The main reason behind these low fees is that there is no intermediary in the payment chain. Here you are not dealing with a middleman taking your money to transmit it to the destination, but you are dealing directly with your own bank.
However, it is down to the casino to charge extra fees for BAC transactions or not, yet there is no point in applying special fees on banking transfers as they aren’t expensive for casinos. Quite the opposite, they are very cheap on both sides, casinos and players.
As for the deposit/ withdrawal limits, they are up to the casino terms. However, in general, the payments range starting from $10 and going up to $5,000. The minimum amount changes from one casino to another, but the max threshold is always $5,000. However, it can rise for high rollers.
Do BACS Deposits Eligible For Casino Bonuses?
Online casinos offer their players plenty of bonuses, promos, and rewards. Most of these bonuses are obtainable with cash deposits. Some casinos restrict specific payment methods from their offers. Mostly, the restricted methods are always Skrill and Neteller wallets because of their high fees applied to casinos. However, this isn’t the case with BAC, which has uncostly fees at all. Since this method takes a long time, ranging from 3 days to a week, it may not be the right deposit method to claim the time-limited offers. So, if you want to collect an offer sensitive for time, you can use a bank card or a wallet.
To avoid any unpleasant surprises, do not forget to enter the bonus code, make a deposit with the specified amount, don’t exceed the stake amount, and play only the eligible games. In other terms, you should thoroughly read the casino terms and conditions.
What Are the Protection Measures of BACS?
There are six domestic payment schemes available in the UK, including but not limited to BACS, CHAPS, Faster Payments, Paym. All these schemes facilitate bulk and singular payments. Also, they depend on bank secrecy and protection systems. Indeed, the banks’ protection systems can’t be in question! They employ the most advanced security systems to protect your money and personal details and guard them against fraud or theft. Furthermore, all your deposits, withdrawals, and transfers are insured by the Bank of England.
How Safe Is BACS?
BACS is a bank-to-bank scheme that pulls money from the bank account of another user under his approval and conduct bulk deposits to receivers directly. Since it is an internal system, nobody can get the power to dip his hand into it, considering that the poor ATM machines lying alone in the streets cannot be cheated on either!
On the casino side, there is absolutely no possible scenario for your account to be hacked! All your financial and personal data is secured by sophisticated SSL protocol, offering you the strongest level of protection. Furthermore, all casinos use advanced anti-virus software and employ teams of IT developers to counter any fraudulent activity in real-time. See also Klarna alternatives here.
The Popularity of BACS in the UK
The UK’s interbank payment schemes are gaining intense popularity among companies, individuals, investors, and lenders. However, about twenty years ago, before the advent of the Internet, none of these schemes existed in their current form.
We can say that the whole story began in 2001 when some US banks experimentally introduced their online services. Soon 20% of people who use finance in the USA became dependent on Internet banking for their daily transactions. This ground has led to the trust of the various commercial fields of the Internet as an environment in which they can move for future growth. Indeed, those who bet on the Internet have won their bet, as in just five years, 80% of banks customer users have become internet dependent!
Consequently, a lot of wallets were launched, and today they are the most popular form of payment; It is not surprising that as they are faster and easier than online banking services.
At the current time, there are three main payment schemes in the UK, namely:
- Global Payments (SWIFT method).
- UK Schemes (BACS, CHAPS, Faster Payments, Paym).
- Card Schemes (Visa, Mastercard, and American Express).
The uses of each protocol vary, of course, but they are all extremely popular in the UK among financial users.
Pros and Cons of BACS
When reviewing the pros and cons of the BACS, it is important to know that it is a protocol that collaborates with banks, and users can’t access it directly, but they deal with banks linked to it. Anyone who has an account on a bank integrated BACS can use this service to send/ receive recurring and single transactions from other parties. There are a lot of features that made it the primary choice for 90% of British users, namely; It accepts low transfers, does not require high fees, and is available in almost all UKGC casinos.
However, the shortcomings of this method are too many to make all users think twice before using it. First of All, BACS does not offer any extra advantage over regular bank transfers. Also, it requires at least 3 days to conduct your transactions. Although the transaction may clear on an off day, it is impossible to shorten the 3 days period!
In addition, this service is only available for UK bank accounts, meaning that GamStop players will not be able to use it to make their deposits and withdrawals at casinos outside GamStop. However, you can still use bank cards, wallets, or even digital currencies.
BACS Alternative Payment Methods
BACS downsides are likely to be deal breakers for many online casino punters and sports bettors. The fact that the transaction takes place 3 days after conducting it means that you can’t place a live bet, nor get the limited time offers nor enjoy the gaming experience on the weekends. In addition, users are unlikely to adopt BACS to make frequent transactions at online casinos or sports betting sites. Therefore, next, we will recommend the most prominent alternative financial means to BACS, which you can use on both UK betting sites not on GamStop.
All of the payment solutions mentioned below support mobile payments facilities and provide a web-based platform and downloadable apps available on the AppStore and Google Play stores. Since the competition between them is fierce, each wallet tries to stand out by offering points schemes, bonus offers, and many exciting perks.
Co-branded Visa cards are issued by every bank around the world without exception. It is the most significant brand in the global payments realm, and this position is not likely to go away any time soon. Visa cards can be used like cash, only better; Users can easily make their deposits and withdraw funds from ATM, send payments to internet stores, and make purchases in land-based markets.
Visa cards can be used to make your transactions at all online casinos and sports betting sites easily. Typically, deposits are complete instantly, while withdrawals need extra time of between 1 – 3 working days.
Although there are two more bank card brands, the cut-throat competition is between Visa and MasterCard, who almost completely dominate this branch of the payments industry. Although Visa and MasterCard cards stack in your wallet without any difference, they differ in some subtleties. For example, Visa accepts POS deposits and withdrawals without any problem, while MasterCard does not accept withdrawals at all. Therefore, if you choose to use your MasterCard to make a deposit at an online casino, you will only be able to withdraw your winnings through bank transfer.
Launched in 1999, NETELLER Wallet is an electronic money transfer service that individuals and companies can use to make transfers. In addition, NETELLER offers virtual prepaid cards and physical ones which you can obtain easily and at low value.
The golden period for this wallet was in 2005, when it had a monopoly over 80% of online gambling payments. Although it has made multiple partnerships with Mastercard and other payment service providers, its popularity has fallen a lot in casinos outside GamStop.
Skrill wallet started in 2011 under the name of MoneyBookers. Since its first day, it has been a constant competitor to NETELLER, but it has been able to completely outdo it over the past years. This method is monitored by relevant authorities in many countries. On top of them is the (FSA). Skrill is characterized by its spread almost all over the world, acceptance of a wide range of currencies, high transaction limits, and low fees. Furthermore, it has a great app for smartphones and tablets. In terms of PR, Skrill is the most successful payment method ever, as it has sponsored many famous names in the gambling industry, such as 888 Casino and PokerStars.
Bitcoin is the oldest decentralized currency in history! To this day, her inventor is still unknown, but what is certain is that it was created in 2008. Since then, its popularity has grown exponentially, especially during the COVID-19 global lockdown period, as it broke its max value more than once. This currency offers users the ability to conduct easy peer-to-peer transactions free of any intermediary or oversight. There are many casinos not on GamStop that support this coin.
Although Ethereum is the second most important digital currency, it is different from Bitcoin! It is not purely a digital currency but an open source blockchain system. This system allows developers to build their apps and websites upon it.
During the current year, the value of ETH increased by 322.5%, and many experts predict that it will hit €100,000 in 2030! You can buy Ether from any wallet or global payment gateway and use it to make deposits and withdrawals at gaming sites.
Dash can be the right choice for people who want to use an altcoin that is cheap and less opaque than the previous options. In addition, this coin is available at a wide range of casinos outside GamStop.
After we reviewed the most prominent alternatives to the BACS scheme in online casinos, now we can overview casinos without GamStop that take these methods.
Top BACS Non GamStop Casinos
We know that folks who visit our sites, read reviews, and take a look at our brand list are looking for true and accurate info to make a decision that affects not only their money but the pleasure (or lack thereof) of their next gaming experience. So, we check for testing any brand as real players for three days before considering a review. Then, if we find something special, we recommend this casino to our readers. In other terms, we offer true info rather than promote certain brands. Below are the top five casinos not on GamStop which have been vetted and approved by our experts.
Casper Spins Casino
Casper Spins ticked so many boxes enough to get this rank on our list of the best casinos outside GamStop! First things first, all newcomers on the board will get a 4-stage welcome offer with a slew of free spins to enjoy your first gaming sessions to the fullest. For loyal players, the casino brings its best reload, free spins, and cashback offers. To ensure the maximum convenience for mobile punters, Casper Spins casino offers a handy browser platform plus a mobile app that offer you a no deposit bonus once you install and open it! You can manage your bankroll easily by any method of banking cards, wallets, and digital currencies. Curious to know more about this casino? Click here to go to the full review page.
Platinum Club VIP
Platinum Club VIP is an all-encompassing gambling portal that offers slots, jackpots, video poker, lotto, table games, bingo, shooting, sports betting, eSports, and much more. All these options are available on Platinum Club VIP portal, meaning that you can access all these options under one roof without downloading anything. Although this portal doesn’t enjoy a long experience in comparison with its competitors, it has everything that you can wager on. All players here, whether they are new or old registrants, are eligible for multiple bonuses. The available payment solutions are more than satisfying. Inquisitive to know more about Platinum Club VIP? Click here.
Slotstoto is a brand new casino themed after Ninja and samurai warriors. Although it went online in 2021, in a short time, it managed to diversify its partnerships with casino games providers. The casino game library includes a rich collection of slots, video slots, jackpots, and live games. Players who are on their way to the casino will be met with a welcome bonus series of up to 6,000 EUR. Also, loyal players can get a broad selection of promos, rewards, and bonuses. Although the accepted payment options aren’t so many, they are available to all players around the world. In addition, the casino doesn’t apply any fees over your payments which is an extra advantage. Want to know more to make a decision? Click here to read the full review.
As you can figure out from the casino name, it focuses mainly on slots games. Table games lovers will not find themselves deprived as the casino offers a great selection of RNG card games and live games. This casino has a great look, a functional layout, generous bonuses, and 24/7 customer service. All casino players can access all the platform services via any mobile browser without having to download any app. New players receive a huge bonus with a maximum value of 5,295 Euros. Also, loyal players receive special care. The casino accepts a wide range of banking methods as well as cryptos. Are you excited to learn more? Click here to read the comprehensive review.
Although Kaboom is a fairly new online casino, it managed to catch up with the rest of the famous brands in terms of bonuses, games, and support service. To earn an extra point in the competition, it offers a cordial welcome bonus pack worth up to 3,000 EUR. Also, it walks an extra mile for its loyal customers and offers them many ongoing rewards. The game collection here is worth praise and guarantee a high level of entertainment. In terms of the payment options, the casino accepts many methods, including Visa, Mastercard, and Perfect Money, among others. Are you keen on knowing more info about this casino, click here!
BACS is the national UK bank-to-bank transfer protocol. In its early days, it depended on the motorcycle and van couriers to move money between banks, but now it uses high speed connections. With this scheme, all parties can send and receive money from other UK bank holders directly, even on holidays. Despite its high security and other features, all payments here take 3 working days to clear. Of course, that isn’t suitable for online punters who want to make their transactions rapidly. What’s more, is that it doesn’t cover casinos without GamStop as they don’t have bank accounts inside the UK. Alternatively, there is quite a wide range of payment methods available at the casino which you can use to make seamless deposits and withdrawals, including bank cards, wallets and virtual currencies.
All Bac payments arrive at the destination bank between 01:00 and 07:00. If the receiver doesn’t get the payment by 07:00, he may need to wait for the next bank working day.
Without a doubt! BACS is one of the safest payment methods around the world. From 1968 till now, it has made more than 140 billion successful payments. Also, it gained the trust of more than 90% of finance users in the UK.
BACS payment is very cheap, and it can beat digital currencies in terms of fees. The single transfer costs only 5-50p plus the fees charged by sender/ receiver banks.
BACS asks for no more details than any other wire transfer service. You need to provide the receiver’s name, bank account, and sort number. Then confirm the transaction, and it will arrive in a period of 3 days.