BACS (Bank Automated Clearing Services) is a method of depositing with a number of online casinos. It can be used by the player to deposit funds into an online casino account and allows the player to let their account holding company allow an online casino to take the necessary funds from the account.
In a way, it is considered to be a sort of safety net that lets the bank make sure that no unauthorized parties are taking money out of the player’s account without their notice or permission.
It is a membership based association for the financial industry and is growing every year. It currently includes a large number of the most highly reputed financial institutions.
BACS online casinos know that with BACS payments there comes the peace of mind that the bank, or whatever financial institution the funds are coming from, will be keeping an eye on transactions. It is more a payment method to suit the player because if the bank is not certain of a transaction then it will be flagged and the transaction might become delayed.