Punjab and Sind Bank ECS Form

Can you provide me the FAQs for ECS (Electronic Clearing System) available on the official website of PSB (Punjab and Sind Bank)?

[pawan]

The FAQs for ECS (Electronic Clearing System) available on the official website of PSB (Punjab and Sind Bank) are as follows:

Q.1. What is Electronic Clearing Service (ECS)?

Q.2. What are the types of ECS? In what way they are different from each other?

Q.3. Who can initiate an ECS (Credit) transaction?

Q.4. How does the ECS Credit system work?

Q.5. At which of the centres ECS facility is available?

Q.6. How does a beneficiary participate in ECS (Credit ) scheme?

Q.7. Will there be any need for the beneficiary to alter this mandate?

Q.8. Who will communicate the beneficiaries' about the credit?

Q.9. What are the advantages to the ultimate beneficiary?

Q.10. How does the scheme benefit the ECS user-like corporate bodies/ institutions?

Q.11. What are the advantages to the banks?

Q.12. How can the customer track-down these payments?

Q.13. Is there any limit on the amount of Individual transactions?

Q.14. What are the Processing / Service charges? Is it a costly service?

Q.15. Is it necessary for the corporates/institutions to collect mandate from the investors?


(FAQs for ECS (Electronic Clearing System) Punjab and Sind Bank)