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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

Direct Debit logo - Bacs 50th Anniversary Statistics

Posted by Scott Gray on 23/04/2018 within Bacs, Direct Credit, Direct Debit, News
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