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Automated Return of Unapplied Credits (Bacs)

A mechanism by which Paying Banks return unapplied credits to the Originator via Bacs.  Usually occurs if the beneficiary has closed the bank account, moved away, is deceased etc.  As the bank cannot find an account to credit the funds with, it sends it back to the Originator with a reason why.

Please see Bank Wizard and Bank Account Validation.

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