Citi First non-European Bank to Join Bacs Payment Schemes

Bacs Payment Schemes (Bacs) has announced that Citibank has become its first non-European member. This takes membership of Bacs, the organisation behind direct debit and Bacs direct credit, to 16 leading financial institutions.

Citibank is already a member of the UK Clearing House Automated Payment System (CHAPS) and Faster Payments schemes as well as bodies such as the Payments Council.

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