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Electronic Clearing Service-ECS

Carry out regular, repetitive payments faster with
paperless transactions directly linked to your account

About this Service


Electronic Clearing Service was introduced by Reserve Bank of India to provide faster and repetitive payments by directly debiting customers accounts thereby minimising paper transactions and increasing customer satisfaction.

As per the existing system, customers are required to make Electricity, Telephone, Insurance Premium, etc payment by either issuing cheques or through cash at the collection centres/ designated banks. For making the payment, the customer is required to stand in long queue. Whereas, in ECS there is no cash transaction or payment through cheques.

A mandate is collected from the customers by the utility companies, banks/ financial institutions receiving periodic /repetitive payments towards electricity bills, telephone /mobile bills/ loan installments/insurance premium/ Mutual Fund (SIP), etc to directly debit their bank accounts. The mandate contains the details such as name of the customer, account number, name of the bank/branch, MICR code, etc

  • The user company prepares a transaction data based on the details provided in the mandate and the same is shared with the Sponsor bank in an encrypted form to further submit to the Local Clearing House of the Sponsor Bank.
  • After due validation of the data, the local clearing house processes the same and arrives at the inter-bank settlement as also generates bank-wise/branch-wise reports (hard copies).
  • NCC debits the destination banks? accounts with clearing house and simultaneously affords a consolidated credit to the sponsor bank?s account and furnishes the bank-wise and branch-wise reports to the service branches of destination banks.
  • Service branches forward the branch-wise reports to the respective branches for debiting the accounts of customers with the indicated amounts.

Under ECS, there is no limit on the value for individual transaction

No, it is available for all Axis Bank accountholders. All you need have to only give an ECS mandate to your service provider for debiting your account with Axis Bank.

No document is required to opt for an ECS facility with the Bank.

  • If your service provider informs the customer about the bills due dates and payments through SMS, you will receive SMS alerts or
  • If your are registered for Mobile Banking with Axis Bank, you will get SMS alert for every debit /credit transaction hitting your account
  • You can view your account through iConnect or the debits will reflect in your account statement

Yes, you can add, delete or change the biller registered earlier by just visiting your service provider and making the necessary modifications

Utility service providers like MTNL, Telephone/Mobile companies, Telecom Departments, State Electricity Boards, Banks (for collection of credit cards dues) LIC, Housing Finance Companies, Intermediaries and Clubs etc.

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