NEWS & ADVICE : CREDIT CARDS
ECS: easier and simpler option to pay bills
By Ankit Sharma
Apr 7, 2011
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Gone is the time when one had to stand in long hours of queue to drop a cheque or pay a bill. This process not only involved increased physical efforts but also increases risk of penalty in case of failure to pay timely.

Internet banking facilities for bill payments are not considered a convenient option by many people. To their aid, thus comes Electronic Clearing Service (ECS). It not only offers to pay bills on time but also reduces stress of the mind from remembering too many due dates.

ECS also offers customers with the facility to put a ceiling over bill amounts. This way they can keep a check on their outflow of funds.

However the customer must be careful while discontinuing ECS service for bill payments. There are two entities involved in the process; one is the mobile service provider and the other is the bank.

In case of discontinuation of the service, the service provider needs to be given a written notification of the same.


 


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