relating to ECS
This query is : Resolved
23 August 2008
What is the full form of ECS ?
What is the full form of ECS ?
23 August 2008
also meaning of it.
also meaning of it.
23 August 2008
reply as early as possible
reply as early as possible
23 August 2008
I also wnat to know meaning of it with an example.
I also wnat to know meaning of it with an example.
23 August 2008
Hi Vishnu,
ECS is a process wherein you may make payments by giving special instruction to bank.
You need not have to issue cheque.
For doing so, you need to know the MICR number and RTGF code of the vendor to whom you want to make payment through ECS.
ECS is benefitted wherein you need to make monthly payments. Eg. Home Loan EMI, electricity payment, telephone bill payment etc.
Please get in touch with your nearest bank for further clarity on the subject.
Rgds/
Vineet
ECS is a process wherein you may make payments by giving special instruction to bank.
You need not have to issue cheque.
For doing so, you need to know the MICR number and RTGF code of the vendor to whom you want to make payment through ECS.
ECS is benefitted wherein you need to make monthly payments. Eg. Home Loan EMI, electricity payment, telephone bill payment etc.
Please get in touch with your nearest bank for further clarity on the subject.
Rgds/
Vineet
23 August 2008
Hello vishnuagarwal,
ECS stands for Electronic Clearing Service.
What is that?
If you are a salaried person and have a salary account in a bank. Then, you can contact bank authorities and sign for ECS for loans that is ...
previously, when we buy loans each month we will have to pay them back using cheque or cash. Isn't?
Now, if you sign for ECS and submit that copy to the bank from where you are getting loan, then they will automatically detect the loan EMI amount on a specified date of a month.
Eg: In my case, each month on 05'th, ICICI detects a specific amount as EMI from my account.
ECS stands for Electronic Clearing Service.
What is that?
If you are a salaried person and have a salary account in a bank. Then, you can contact bank authorities and sign for ECS for loans that is ...
previously, when we buy loans each month we will have to pay them back using cheque or cash. Isn't?
Now, if you sign for ECS and submit that copy to the bank from where you are getting loan, then they will automatically detect the loan EMI amount on a specified date of a month.
Eg: In my case, each month on 05'th, ICICI detects a specific amount as EMI from my account.
23 August 2008
thanx
thanx
23 August 2008
but what is the RTGF CODE?
but what is the RTGF CODE?
23 August 2008
I don't think that is RTGF Code.
i.e RTGS Code- real time gross settlement code. This code is used for funds transfer.
i.e RTGS Code- real time gross settlement code. This code is used for funds transfer.
25 August 2008
thanx
thanx
25 August 2008
thnx a lot for replying my queries
thnx a lot for replying my queries
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