The latest edition of the Bacs Guide and Rules has just been released as changes have been made to both the Direct Debit and the Bacs Credit Scheme Rules.
The Service User’s Guide and Rules to the Direct Debit scheme v3.6 can be downloaded from Bacs by clicking here
The two main changes are:
- Notification that the maximum limit of an individual payment transaction is £20m
- Advice of advance notice period added into the example telephone script. (NB – This is not a change to the rules; advice of the advance notice period has always been a mandatory requirement, however since it is now not mandatory to read the Direct Debit Guarantee at time of sign up, it has been included in the example script as a separate item).
If you have any questions on how these may affect you, please do not hesitate to contact us.