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a

Advance Notification

The notice period (normally 10 working days plus postal time) given to the payer in respect of the date of debiting and the amount to be debited.

API - Application Programming Interface

An interface that allows an application program that is written in a high-level language to use specific data or functions of another program.

b

Bacs

Bacs Payment Schemes Limited is the membership-based industry body which promotes best practice amongst those companies who offer automated payment services and is responsible for the associated payment clearing and settlement.

Bacs Notifications

Delivered via Bacs to provide business critical data in a standardised format for reintegration with 3rd party applications or provision in a readable format:

• ADDACS – Automated Direct Debit Amendment and Cancellation Service
  Reports are generated to indicate changes to bank account details which affect the Direct Debit Instructions (DDIs) set up for that account (e.g. changed account details or cancelled DDIs).
• ARUCS – Automated Return of Unapplied Credit
  ARUCS reports are a mechanism by which paying banks return unapplied credits to the originator via the Bacs service.
• ARUDD – Automated Return of Unpaid Direct Debits
  ARUDD reports list payment instructions that could not be applied by the destination bank(s) and have therefore been returned to the Originator. Common rejections include account closed, insufficient funds, payer deceased, account transferred and instruction cancelled.
• AUDDIS – Automated Direct Debit Instruction Service
  AUDDIS originators are able to electronically submit DD instructions to Bacs, replacing traditional paper based methods. AUDDIS reports may be generated by incorrectly set up DDIs (e.g. caused by incorrect bank account details, expired instructions or incorrectly completed mandates).
• AWACS – Advice of Wrong Account for Automated Credits Service
  If a Direct Credit has incorrect account destination details the AWACS system is used by banks to notify the originating organisation of the correct details for future submissions.

Bacstel-IP

An upgrade to the existing BacsTEL service which employs Internet Protocol combined with PKI security.

BICS - Bank Identification Codes

BICs are used to uniquely identify financial institutions to facilitate cross-border automated payments, as defined by the SWIFT BIC standard. BICs can comprise of 8 or 11 characters, and include a bank code (4 characters), a country code (2 letters), a location code (2 characters) and an optional branch code (3 characters).

c

CRM - Customer Relationship Management

CRM software solutions help organisations manage customer relationships in an organised way.

d

Direct Credit

Direct Credit is a simple, secure and reliable service, which enables both large and small organisations to make payments by electronic transfer directly into a bank or building society account. It is mainly used for paying wages and salaries - over 90% of UK salaries are paid by this method.

DD - Direct Debit

A payment of an agreed amount collected electronically on request by an Originator directly from an individual's bank account. DD is the simplest way for organisations to collect regular or occasional payments from their customers. It saves time, reduces the costs of collections and puts cleared funds directly into the organisation’s bank account.

DDI - Direct Debit Instruction

The authority signed by a customer allowing the Originator to collect DD payments from the customer's account.

e

EDI - Electronic Data Interchange

EDI is a structured, secure, convenient and high-speed communication between organisations.

EDI Message Standards

Several industry specific standards have evolved. The main standards supported by our eCONNECT solution are:

• AS2
  Applicability Statement 2. Widely used in numerous supply chains, specifically in retail.
• EDIFACT
  EDI For Administrations, Commerce and Transport. The international EDI standard messaging syntax under the responsibility of the UN, for trading transactions in all industries.
• ODETTE
  European automotive industry standard.
• TRADACOMS
  One of the most common EDI standards used in the UK.

EFT - Electronic Funds Transfer

The electronic transfer of money from one account to another.

ERP - Enterprise Resource Planning

An information system or process integrating all manufacturing and related applications for an entire enterprise, allowing organisations to manage resources across the enterprise.

h

HSMs – Hardware Security Modules

Provide an alternative to smart cards and smart card readers for those users looking to automate the process of authorisation and / or submission.

HTML - Hypertext Markup Language

A document format language used in the creation of Web pages.

i

IBANs - International Bank Account Numbers

An IBAN is a unique series of alphanumeric characters that identifies a customer’s account held at any bank across the World. IBANs have been introduced to help reduce errors associated with complex cross-border transactions, providing a worldwide standard format for displaying and validating international bank account numbers. IBANs usually contain an ISO country code (2 characters), two check digits for validation purposes, a domestic bank code and the account number.

ISCD - Industry Sorting Code Directory

A database produced by Bacs which consolidates all Cheque and Credit Clearing, CHAPS and Bacs Payment Schemes sort code related information, as well as information held in the Reeds Sorting Code Directory. Albany’s account validation and collections management solutions utilise the ISCD to perform fast, accurate validation of account numbers and sort codes.

m

Modulus Checking

Modulus checking is used by Albany’s solutions to check the validity of account numbers for a sorting code. This allows organisations to check the possible validity of account details prior to submission to Bacs, drastically reducing payment and collection errors and delays.

o

OFTP - Odette File Transfer Protocol

Used to send EDI files over Value Added Networks (VAN’s).

Originator

The organisation 'originating' requests for collection by Direct Debit.

p

PDF - Portable Document Format

A format from Adobe enabling documents to be electronically distributed while preserving the document layout and allowing the integration of corporate branding.

PKI - Public Key Infrastructure

Provides strong authentication and data encryption through the use of digital certificates and cryptography.

r

Remittance Advices

Remittance Advices are used to detail payments to your suppliers. They remove the need to send suppliers a letter with your payment and can be produced and distributed electronically using one of Albany’s e-document distribution solutions.

s

SOAP (Simple Object Access Protocol)

SOAP is a protocol for exchanging XML-based messages over computer networks, normally using HTTP/HTTPS. SOAP forms the foundation layer of the Web services stack, providing a basic messaging framework upon which abstract layers can be built.

Smart Card & Smart Card Reader

Replacement for the BACSAFE device, for use under Bacstel-IP. This is a ‘credit card type’ security device with an in-built microchip holding identification details in a digital format to authorise submission prior to submitting to Bacs under Bacstel-IP.

t

TIFF - Tagged Image File Format

A widely used file format for storing greyscale and colour images, typically used by eCONNECT to deliver by fax.

ToDDaSO - Transfer of Direct Debit and Standing Orders

A service to assist customers when moving their Bank/Building Society accounts by electronically transferring Direct Debit and Standing Order information between Banks / Building Societies.

v

VAN – Value Added Network

A VAN is a service used to link EDI partners.

VocaLink

VocaLink was launched in July 2007, following the merger of Voca Limited (the company providing the infrastructure behind the Bacs Payment Scheme), and LINK Interchange Network Limited (the operator of the world’s busiest ATM network).

VocaLink is the leading provider of payment services in the UK and a class leader in Europe and beyond.