ECS is a service provided by a bankQuick Enquiry
Want to make periodic payments without the hassle? Kaveri Grameena Bank presents Electronic Clearing Services enabling you to make repetitive and periodic payments/ receipts with ease
ECS is an electronic clearing system that facilitates paperless credit / debit transaction directly linked to your account and also provides for a faster method of effecting periodic and repetitive payments.
Primarily, there are two variants of ECS - ECS Credit and ECS Debit. ECS Credit is used for affording credit to a large number of beneficiaries having accounts with bank branches at various locations within the jurisdiction of an ECS Centre by raising a single debit to an account of a bank (that maintains the account of the user institution). ECS Credit enables payment of amounts towards distribution of dividend, interest, salary, pension, etc., of the user institution.
ECS Debit is used for raising debits to a large number of accounts maintained with bank branches at various locations within the jurisdiction of an ECS Centre for single credit to an account of a bank (that maintains the account of the user institution). ECS Debit is useful for payment of telephone / electricity / water bills, cess / tax collections, loan instalment repayments, periodic investments in mutual funds, etc., that are periodic or repetitive in nature and payable to the user institution.
Who can make payments?
How to make payments via ECS?