Transaction codes are a key part of Bacs submissions. Here is a simple guide:
01 – Direct Debit first collection.
17 – Direct Debit regular collection, or credit contra (debit record to balance credit records).
18 – Direct Debit re-presentation.
19 – Direct Debit final collection.
99 – Direct Credit, or debit contra (credit record to balance debit records)
Z4 – Interest payments.
Z5 – Dividend payments.
Direct Debit Instructions (DDIs)
0N – New instruction.
0C – Cancellation instruction.
0S – Conversion instruction.
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