the Association for Payment Clearing Services

the Association for Payment Clearing Services
the Association for Payment Clearing Services UK US noun
BANKING, FINANCE APACS(Cf. ↑APACS), the former name for UKPA(Cf. ↑UKPA)

Financial and business terms. 2012.

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  • Association for Payment Clearing Services — APACS An association set up by the UK banks in 1985 to manage payment clearing and overseas money transmission in the UK. The Association has four main Interest Groups: the Card Payments Group, the Cash Services Group, the Electronic Commerce… …   Accounting dictionary

  • Association for Payment Clearing Services — APACS An association set up by the UK banks in 1985 to manage payment clearing and overseas money transmission in the UK. The Association has four main Interest Groups: the Card Payments Group, the Electronic Commerce Group, and the Liquidity… …   Big dictionary of business and management

  • Association for Payment Clearing Services — /əˌsəυsieɪʃ(ə)n fə peɪmənt ˌklɪərɪŋ ˌsɜ:vɪsɪz/ noun an organisation which deals with the clearing of payments in the UK. Abbreviation APACS …   Dictionary of banking and finance

  • Payment card industry — The payment card industry (PCI) denotes the debit, credit, pre paid, e purse, ATM, and POS cards and associated businesses.The term is sometimes more specifically used to refer to the Payment Card Industry Security Standards Council, an… …   Wikipedia

  • clearing house — A centralized and computerized system for settling indebtedness between members. The best known in the UK is the Association for Payment Clearing Services (APACS), which enables the member banks to offset claims against one another for cheques… …   Big dictionary of business and management

  • clearing house — A centralized and computerized system for settling indebtedness between members. The best known in the UK is the Association for Payment Clearing Services (APACS), which enables the member banks to offset claims against one another for cheques… …   Accounting dictionary

  • Clearing House Automated Payments System — ( CHAPS) A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment… …   Financial and business terms

  • List of sort codes of the United Kingdom — In the United Kingdom the initial digits of bank sort codes are allocated to settlement members of the Cheque and Credit Clearing Company and the Belfast Bankers Clearing Committee. These numbers are six digits long, formatted into three pairs… …   Wikipedia

  • BACS Payment Schemes Ltd — A company that provides an automated service for interbank payment clearing and settlements in the UK. It was established under the aegis of the Association for Payment Clearing Services as the Bankers Automated Clearing System in 1985. In 2003… …   Accounting dictionary

  • London Bankers' Clearing House — Formerly, the organization that daily set off all cheques drawn for and against the clearing banks in the UK. It was established in Lombard Street, in the City of London, in the 1770s. In 1985 it was superseded by the Association for Payment… …   Big dictionary of business and management

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