Bacs 50th Anniversary Statistics
As Bacs celebrates its 50th Anniversary this month, they share some key statistics processing direct debits and direct credits over half a century!
Bacs 50th anniversary statistics
- Bacs launched in April 1968, known originally as the Inter Bank Computer Bureau
- Direct Debit launched in 1970
- 125 billion payments have been processed over last 50 years, which is greater than the number of people to have ever walked the earth
- A record 6.34 billion payments were processed by Bacs in 2017
- 4.2 billion payments made by Direct Debit last year, also a new high
- A record 111.7 million payments were processed in a single day at the end of June 2017
- Nine in 10 adults in Great Britain have at least one Direct Debit commitment
- 90 per cent of UK workforce paid by Bacs Direct Credit
- Films released in April 1968 included 2001: A Space Odyssey and Planet of the Apes
- The likes of Tom Jones (Delilah), Cliff Richard (Congratulations), The Beatles (Lady Madonna) and Manfred Mann (Mighty Quinn) were all topping the charts when Bacs launched
- The average cost of a house was yet to break the £4,000 barrier (£3,996*) and we were
clamouring to drive the Austin Morris 1100.
*According to house price data published by Nationwide: https://bit.ly/2unX3Sc