BECS

Bulk Electronic Clearing System

BECS is Australia's bulk clearing system for low-value electronic payments such as direct entry credits and debits. It processes transactions in batches rather than in real time.

BECS is commonly used for payroll, bill payments, and recurring direct debits. It operates alongside faster payment rails like the NPP.

Related Terms

Direct Debit

Direct debit is an authorized withdrawal from a bank account, typically set up for recurring payment...

Direct Deposit

Direct deposit is an electronic payment method where funds are deposited directly into a checking ac...

EFT

Electronic Funds Transfer

EFT is a broad term for any transfer of money from one bank account to another through electronic me...

NPP

New Payments Platform

NPP is Australia's real-time account-to-account payments platform. It provides immediate clearing an...

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