ECS Full Form: Electronic Clearing Service, The full form of ECS is Electronic Clearing Service. ECS is a very good electronic method of money transfer from one bank account to another bank account. It also facilitates transactions with Electronics Credit and Debit Cards linked to the customer’s account. It is generally used for transactions that are in repetition or periodic nature. Electronic Clearing Service was introduced by the Reserve Bank of India to provide a quick method for making periodic and recurring payments.
- ECS Full Form in English: Electronic Clearing Service
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- ECS Full Form in Hindi: इलेक्ट्रॉनिक समाशोधन सेवा
- ECS Full Form in Marathi: इलेक्ट्रॉनिक क्लिअरिंग सेवा
What is the full form of ECS?
The full form of ECS is “Electronic Clearing Service”. Its Hindi meaning is “Electrical Clearing Service”, ECS is actually a digital way of sending money from one bank account to another. Friends, if we talk about the Credit Suis report, then according to that report, by the year 2023, the figure for digital payment in the country will cross one lakh crore dollars. Let us now provide you more information about it.
ECS is an electronic system to transfer money from one bank account to another bank account, ECS provides the facility to the customer to transact with the electronics credit/debit card linked to your account, friends, if you want, ECS facility from your bank account You can make payment to any customer by using This is actually a very useful service with the help of which the customer can transfer funds from one bank account to another. If you want to invest in mutual funds through SIP every month, and if you pay electricity/water/telephone bills on a certain date every month, then you can give ECS mandate to the bank for this. You can also make payment of any loan or credit card using ECS.
ECS Meaning in various Indian Languages
|ECS meaning in Arabic||خدمة المقاصة الإلكترونية|
|ECS meaning in Bengali||বৈদ্যুতিন ক্লিয়ারিং পরিষেবা|
|ECS meaning in English||Electronic Clearing Service|
|ECS meaning in Gujarati||ઇલેક્ટ્રોનિક ક્લિયરિંગ સેવા|
|ECS meaning in Hindi||इलेक्ट्रॉनिक समाशोधन सेवा|
|ECS meaning in Kannada||ಎಲೆಕ್ಟ್ರಾನಿಕ್ ಕ್ಲಿಯರಿಂಗ್ ಸೇವೆ|
|ECS meaning in Malayalam||ഇലക്ട്രോണിക് ക്ലിയറിംഗ് സേവനം|
|ECS meaning in Marathi||इलेक्ट्रॉनिक क्लिअरिंग सेवा|
|ECS meaning in Nepali||इलेक्ट्रोनिक समाशोधन सेवा|
|ECS meaning in Punjabi||ਇਲੈਕਟ੍ਰਾਨਿਕ ਕਲੀਅਰਿੰਗ ਸਰਵਿਸ|
|ECS meaning in Sindhi||اليڪٽرانڪ صاف ڪرڻ جي سروس|
|ECS meaning in Tamil||மின்னணு தீர்வு சேவை|
|ECS meaning in Telugu||ఎలక్ట్రానిక్ క్లియరింగ్ సేవ|
|ECS meaning in Urdu||الیکٹرانک کلیئرنگ سروس|
FAQ’S For ECS Full Form
Ans. What is Electronic Clearing Service (ECS)? It is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing House.
Ans. ECS stands for Electronic Clearance Service. An ECS mandate is a confirmation from you that you don’t have any objection to a certain amount being withdrawn by Bajaj Finserv against your purchase. The amount gets withdrawn for months depending on the EMI repayment tenor selected.
Ans. If you bounce an ECS, you will have to bear the same penalty as you would have for a bounced cheque. And this could be up to Rs 750. Keep in mind that your bank runs an ECS and if there aren’t enough funds, the bank may run an ECS again at some time later (usually a couple of days), that is after a few days.
Ans. Start and Stop: To start an ECS for a utility company like your mobile phone bill, you need to fill in the ECS debit mandate with the mobile service provider and get the same endorsed by the bank. There is a good possibility that your bank might charge you a small fee to set an ECS mandate.