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Meaning of “BACS” in the English Dictionary

"BACS" in Business English

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BACSnoun

uk   us   /bæks/ BANKING
abbreviation for Bankers' Automated Clearing System: an ​organization in the UK that ​deals with ​payments that are made between ​bankaccounts: The ​money is ​transferred through BACS and will ​reach your ​account in three to four days.
(Definition of BACS from the Cambridge Business English Dictionary © Cambridge University Press)
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