Posted by Peter Brady on Thu 2nd November 2006 at 06:00 AM, Filed in Credit Tips
Voca Limited whose former incarnation was BACS Limited prior to 12 October 2004, is the company that has ownership of Credit and Direct Debit payments and maintains that function.
Voca has a high degree of functionality which enables data transactions accessible to banks, governments and business.
A three day cycle is a service provided by BACS which ensures that the minimum amount of time processing a transaction is three days. This effectively means that instruction, processing of the instruction and entry of the instruction occur on consecutive days.
