Glossary of Terms

As part of the Collection date (Direct Debits) or Credit date (Direct Credits) validation, SmarterPay Cloud calculates the earliest date that this can be, based on the Bacs 3 Day Processing Cycle, plus any weekend days or bank holiday days.

By default, the minimum number of working days is 3, which means a Credit or Debit can be created and submitted to Bacs today, before 22:00, for collection in 3 working days time (including today).

Being allowed to create and submit a Credit or debit the same day could be against a Company's internal procedures, for example, to comply with Bacs Advanced Notification rules, or to allow a Credit run to be checked before submission, etc.

SmarterPay Cloud can be configured for the minimum number of days between a Credit, Debit or Mandate being created and it being Collected by the Bacs process - we call this “Count of Processing Days” and can be setup by contacting Client Services, either by telephone on +44 (0)1482 240886, or by email at support@smarterpay.com.

A Modulus Check is a fast way to validate a sort code and account number combination, for the UK, before submitting a Direct Credit or Direct Debit instruction to Bacs.

Modulus checking uses a mathematical algorithm to compare customer account numbers and sort codes, and check if the two can be legitimately paired together.
Modulus checking doesn't show if the account actually belongs to that customer.

Pay As You Earn (PAYE) Real Time Information (RTI) is the process of matching payroll paid through Bacs Payment systems to individuals with the payroll data reported in real time. It provides confirmation of the amount paid into an individuals bank account to assist DWP with administration of all types of Universal Credit.

HMRC update: “From April 2024 (from tax year 2024/25) the BACs HASH has been removed from the list of required data and therefore will not be required.”