BACS places £2m account under review

Debit and credit processing company BACS is reviewing its £2m Direct Debit account, held by Euro RSCG Wnek Gosper.

BACS, which is owned by the major banks and building societies, has denied past rumours of a review, but a spokeswoman for the company confirmed the creative account is now up for pitch.

It is not known whether Euro RSCG will repitch for the business.

BACS’ advertising spend has fluctuated during the past five years, but has settled at £2m. Its advertising strategy has focused on the cost and time savings that Direct Debit can generate. Euro RSCG was behind most of the company’s campaigns, including a £20m push to boost brand awareness in the late Nineties.

BACS recently appointed Marion King, former managing director of Reuters, as chief executive, replacing Gordon Younger who retires in September. Ron Watford, director of group operations at Lloyds TSB, has been named as chairman. He replaces John Walsh.

The company operates under the umbrella of the Association of Payment Clearing Services.