LONDON, Jan. 22, 2026 /PRNewswire/ -- iFAST Global Bank (the "Bank") today announced it has joined Bacs (Bankers' Automated Clearing Services), the national systems operator for the United Kingdom's (UK) bank-to-bank payment systems. This milestone enables the Bank to offer both Bacs Direct Credit and Direct Debit, expanding its everyday payment capabilities across the UK.
Bacs Direct Credit supports a range of payments including salaries, pensions, benefits and supplier payments, while Bacs Direct Debit is widely used for automated bill and subscription payments. With the introduction of Bacs Direct Credit, iFAST Global Bank will also provide Early Salary Credit, allowing eligible customers to receive their salaries one business day earlier than their contractual payday.
Launch Promotion: Earn up to £200 with Bacs
To mark the launch of Bacs services, iFAST Global Bank is introducing a limited-time promotional campaign, running from 1 February to 30 April 2026, where customers can earn rewards of up to £200.
Campaign mechanics:
- £100 Salary Credit Reward
Customers will receive £100 when they switch their salary credit (or other eligible Direct Credit) to iFAST Global Bank, complete their first Direct Credit by 30 April 2026* and receive Direct Credits in any three months before the end of June. - £100 Referral Reward
Customers can earn an additional £100 by referring three friends to open an iFAST Global Bank account, with all three referees successfully switching their salary credit (or other eligible Direct Credit) to iFAST Global Bank and receiving at least one Direct Credit payment into their iFAST Global Bank account.
*Customers who switched their salary credit to iFAST Global Bank prior to the campaign launch (1 February 2026) remain eligible. T&Cs apply.
"Joining Bacs marks an important step in strengthening our banking infrastructure. It gives our customers a seamless and all-in-one access to a trusted national payment system, while enhancing everyday banking experiences," said Inayat Kashif, CEO of iFAST Global Bank.
For more information, refer to the Terms and Conditions of the Power Up Your Payday Program.
About iFAST Corporation & iFAST Global Bank
iFAST Corporation is a global digital banking and wealth management platform, with assets under administration of S$30.62 billion as at 30 September 2025. Established in 2000, it operates in Singapore, Hong Kong, Malaysia, China, and the UK. iFAST Global Bank is a fully licensed UK bank, offering multi-currency deposits, payment services, and remittance solutions. Regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), the Bank is a direct member of the Bank of England Faster Payment Scheme, Clearing House Automated Payment System (CHAPS) and SWIFT. iFAST Global Bank is also a member of the Financial Services Compensation Scheme (FSCS) where eligible deposits are protected up to £120,000 per customer.
iFAST Global Bank was recently recognised as Moneyfacts Highly Commended App-Only Savings Provider of the Year 2025 and Commended for Best Customer Service. In recognition of its innovative practices in global digital banking services, the Bank was honoured with the "Best Newcomer" award at the British Bank Awards 2025 hosted by the UK's leading financial review platform Smart Money People.
For more information, visit www.ifastgb.com and www.ifastcorp.com
Media Contact:
Rachelle Au-Yeung | rachelle.auyeung@ifastgb.com
/ corpcomms@ifastfinancial.com
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