2 docs tagged with "bacs"

Credit Payment Recovery (CPR) is the scheme procedure introduced in 2014 to bring consistency in the recovery method for Faster Payments (FPS) and settled Bacs (the Bacs recall pre-settlement process remains unchanged). The process is mandatory and the only method of recovery of these payments.

Given the large volumes of payments that flow each day it is natural that errors occur. See below for various scenarios and how you should manage them.