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ECS stands for Electronic Clearing System. It is the system by which money can be credited/debited from a bank account by a bank. Let us say you want to apply for a loan with ABC Bank, they will get the details of the bank with whom you already have an account and then ask you to fill up an ECS form using which ABC bank can debit (take out) the money due to them as part of the monthly loan repayment automatically from your account without you having to make a trip to the bank to deposit the money against your loan account. The same is applicable for salary credit into your account too. If you submit an ECS form to your employer with your bank details they can directly credit your salary every month without you having to receive a paper pay-check and deposit it into your account manually.
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What ECS stands in aerospace?
ECS stands for Environmental Control System in relation to the aerospace industry.
Are Nerf Ecs darts the same as cs darts?
ecs stands for extended clip system, cs stand for clip system, so the only differents is the actual clip size
Where is the hazard switch in a 2001 Grand Am?
u know the red triangle right above your stereo.its right there next to the ecs button.the ecs button is Electronic traction Control System
Who makes the e system 3085 notebook and what is the web address?
It is made by ECS and comes as many other brands. The ECS model is 331, The advent model is 7105, The Infinity Model is 330
How Banking system in a sentence?
1. The whole banking system was thrown into confusion. 2. The more complex the banking system, the more difficult it is to do this. 3. A sound banking system matched to new banking needs. 4. The international banking system began to crack. 5. The regulatory structure for the banking system is almost entirely pro-cyclical.
What is a Nerf stampede ecs?
It's a Nerf gun you dim wit
How is universal banking system operated?
how is universal banking system operted/
What is the fullform of ECS?
The full form of ECS is Electronic Clearing Service. It is a payment system that allows for the transfer of funds electronically between banks, facilitating bulk transactions such as salary payments, utility bills, and other recurring payments. ECS is widely used in India for both credit and debit transactions.
How is system design of private banking Who is system design of private banking What is system design of private banking Why is system design of private banking?
he closed all banks and only reopened those with enough money
What is home banking system?
What is Home Banking
What is the difference between electronic clearing system and standing instruction?
Actually, ECS works upon standing instruction. So there is no difference between them , A standing instruction can be issued to the bank where a customer holds a account to debit/credit . In ECS you issue a mandate to the bank which debits your account periodically in case of ECS-Debit.
What is modern banking system?
Modern banking system has been able to incorporate technology into the banking industry. This is what has made online and mobile banking possible.
