Full Form of ECS
The full form of ECS is the Electronic Clearing System.
| ECS | Electronic Clearing System |
| Category | Banking |
| Region | Global |
What is ECS
The electronic clearing system or electronic clearing service (ECS) is a service offered by many banks, which facilitates paperless credit / debit transactions directly linked to your account and also provides a faster method of periodic and repetitive payments.We all use the electronic compensation system (ECS). It is a service that your bank provides when you need to transfer funds from one bank account to another electronically.
Benifits of ECS
- Maximize customer satisfaction
- Minimize the use of paper
- No late fees
- Punctual payment of bills
- Make it easy for customers to pay their essential utility bills such as electricity bills, mobile phone bills, phone bills, etc.
- It also makes it easy for clients to pay for mutual funds, insurance premiums, credit card payments, loan installments, etc. of this service.
Related Full Forms List
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Please also find ECS meaning in other sources. Find Useful Terms and Definitions which we use in daily life but we do not know their full name meaning, Here’s a list of important abbreviations that you should know.
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