Jargon Buster
Bureau – an organisation that submits financial transactions to BACS on behalf of external third parties.
Master File – a file which contains the payment information, bank account number, bank sort code, bank account name, reference and amount required for making or receiving the payments.
Template – the tool used to allow the payment information from your system/s to be easily converted into a format that is understood by Unity e-Payment. At least one template is required with the Pay As You Go (PAYG) and Monthly Subscription options. The template is usually given a name that you would like to see when using this template, for example, Payroll, or Supplier.
Direct Credit – is a simple, secure and reliable service, which enables you to make payments by electronic transfer directly into an individuals or organisations bank or building society account.
Direct Debit – is an instruction from an individual or organisation (the payers) to their bank or building society authorising you (the originator) to collect varying amounts from their account, as long as you have given them advance notice of the collection amounts and dates.
AUDDIS – AUtomated Direct Debit Instruction Service, transfers Direct Debit Instructions electronically between Originators and Paying Banks via BACS
