Tag Archives: ECS

Things To Know About ECS Service

ECS or Electronic Clearing Service is a common form of transferring funds from one bank account to another, but as a concept it is also mired in confusion. We’ll clear the air here.

What is Electronic Clearing Service (ECS)?

Electronic Clearing Service (ECS) is an electronic mode of payment for transactions that are periodic and repetitive in nature. This makes the transactions of banks cost effective, smoother and easier. The person/ institution availing this facility has to furnish an authorization to the bank giving consent to avail the ECS Credit facility with details of… Read More »