ECS form Bank of Baroda

Hi I would like to know the key benefits of the Electronic Clearing Services offered by Bank of Baroda?

[Kiran Chandar]

Electronic Clearing Services (ECS) is a one of a kind framework under which Bank of Baroda helps organizations and establishments making substantial installments dispense these sums specifically into the financial balances of the recipients, for example, account holders, shareholders, speculators and so on.

Key Benefits

Fayde to a Corporate Body:

Corporate bodies who have occasional, substantial volume installments to an altered gathering speculators/recipients appreciate the accompanying advantages:

Investment funds in managerial cost in a matter of seconds being acquired for printing of paper instruments in MICR organize and dispatching them by Registered Post.

Disposal of deceitful encashment because of misfortune in travel of instruments.

Compromise of exchanges is made programmed. When the ECS cycle is finished, the client foundation gets electronic information record from its save money with the date of installment and investor's affirmation subsequently.

Money administration gets to be simpler as course of action for assets is to be made just on the predefined date.

Guarantees better client/speculator administration.

In accordance with practices embraced by best organizations the world over who pay their shareholders/speculators and clients.

Fayde to the clients:

Brief installment on the due date.

Advantageous receipt of cash decreases trips made to the bank for storing profit/premium warrants.

End of deceitful encashment against instruments lost in travel.

Please find the file attached for the Electronic Clearing Services



Address:

Bank Of Baroda
Baroda Corporate Centre,
Plot No - C-26, G - Block,
Bandra - Kurla Complex,
Bandra (East), Mumbai-400051
Phone 022) 6698 5000- 04
Fax 022) 2652 3500