APACS
Company Information
About
The APACS Company
The
Association for Payment Clearing Services was set up in 1985 as
a non-statutory Association of major banks and building societies
and has become the umbrella body at the heart of the UK payments
industry. APACS provides the forum for banks and building societies
to discuss non-competitive issues relating to money transmission.
The governing body is APACS Council.
The
APACS umbrella comprises the following entities:
The
Association for Payment Clearing Services (APACS)
Three
clearing companies which manage the major UK payment clearing systems
and maintain their operational efficiency and financial integrity.
- Cheque
and Credit Clearing Company which oversees the paper clearing.
- CHAPS
Clearing Company which provides electronic same-day clearings
in sterling and euro:
- BACS
which operates the bulk electronic clearing.
These
clearing companies are responsible for the operation of, and future
developments within, the clearings that they run. Each has its own
Board of Directors.
An
unincorporated clearing group, the Currency Clearings Committee
Interest
groups on major payment subjects:
- Card
Payments Group
- Cash
Services Group
- Liquidity
Managers Group
- Electronic
Commerce Group
A service
company, APACS (Administration) Ltd, which provides staff, services
and facilities to any entity within the APACS umbrella.
In
addition, APACS forecasts payment trends, conducts market research
and maintains a large body of statistics. The Association also formulates
payments industry standards.
Planning
has also been undertaken to ensure that, when and if HM Government
decides the UK will join EMU, there will be a smooth transition
from sterling to euro.
APACS
provides a single industry voice to the public and to the media
on all non-competitive payment matters.
- APACS
Objectives
- APACS
Constitution
- APACS
(Administration) Ltd
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