English, asked by pooTamm9soni1, 1 year ago

please suggest full form of ecs
Also provide some brief description

Answers

Answered by kumarishiwangi
2
Electronic clearing service.
it is an electronic mode of funds transfer from one bank account to another
Answered by Divya232
2
ECS -Electronic Clearing System 
1-It is a service your bank provides when you need to transfer funds from one    bank account to another electronically.
there are two types
1-One is called the ECS credit
2-other is called the ECS debit

ECS credit is when an institution makes a credit to your savings account.

ECS debit is when you choose to make recurring payments, as EMI towards your loans, or SIP payments towards your mutual funds and the like. 

please mark it as brainliest



Divya232: please mark it brainliest
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