What Are The Advantages To The Banks?

1.	What Are The Advantages To The Banks?
Answer» BANKS HANDLING ECS get freed of paper handling. Paper handling also creates lot of pressure on banks as they have to encode the instruments, present them in clearing, monitor their RETURN and follow up with the CONCERNED bank and customers. In ECS banks simply get the payment particulars relating to their customers. All they need to do is to match the account particulars like name, a/c number and credit the proceeds. Wherever the details do not match, they have to return it BACK, as per the procedure.

Answer»

BANKS HANDLING ECS get freed of paper handling.
Paper handling also creates lot of pressure on banks as they have to encode the instruments, present them in clearing, monitor their RETURN and follow up with the CONCERNED bank and customers.
In ECS banks simply get the payment particulars relating to their customers. All they need to do is to match the account particulars like name, a/c number and credit the proceeds.
Wherever the details do not match, they have to return it BACK, as per the procedure.

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