Tuesday
Your payment instructions are aggregated and forwarded to Bank
of Baroda (BOB)
BOB encrypts the data and sends it to the local Bankers Clearing
House
Wednesday
The Clearing House verifies the debit data and sorts it to generate
reports to be sent to your bank for processing your payment instruction
Thursday
The Clearing House sends these reports to the coordinating branch
of your bank.
Friday
The coordinating branch sends these reports to your branch,
i.e. the branch where your account is held.
Next Monday (date your account gets debited)
Your branch debits your account, provided the account has sufficient
funds.
The Clearing House debits the account of your bank and credits
BOB's account.
Your and other customers' banks prepare a report of successful
and unsuccessful debits and send it to their respective main branches.
The main branches of all the banks compile the reports and forward
the aggregate reports of successful and unsuccessful debits to
the Clearing House.
Next Tuesday
Those banks that have not forwarded the aggregate report on
Friday will forward their reports by this day, else the Clearing
House assumes that all the debits are successful.
Next Wednesday
The Clearing House reverses the credit given to BOB to the extent
of failed debits.
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When do I have to fund
my bank account for payment through ECS (Debit Clearing)?
As explained in the ECS (Debit Clearing) process above, your account
generally gets debited on the fifth working day from the start
of ECS cycle. We strongly request you to keep your account
funded after the "pay on date".
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Can I stop a payment
once it goes into the ECS (Debit Clearing) cycle?
No. The payment cannot be stopped after BillDesk initiaites the
ECS (Debit Clearing) process.
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Do I have to give
an ECS mandate for every bill payment?
No. You have to give the ECS mandate only once. This mandate remains
valid till you withdraw it.
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Can one ECS
mandate be used for more than one bank account?
No, you need to give a separate ECS mandate form for each bank
account that you wish to use.
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Can all banks
participate in this service?
All banks having MICR codes,
the 9 digit code number at the bottom left hand corner of a cheque,
can participate in ECS (Debit Clearing).
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Can I designate
an outstation account for the ECS (Debit Clearing) process?
No, you cannot designate an outstation bank account for ECS (Debit
Clearing) process. This is because the ECS (Debit Clearing) process
is handled locally within each city.
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Can I instruct my
bank not to honour a specific payment, once a mandate is given?
Yes you can give stop payment instructions to your bank. You would
need to give these instructions before your account is debited.
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Can a mandate once
given be withdrawn?
Yes, you can withdraw a mandate by deleting the desired bank account
from your list of active bank accounts on BillDesk.
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Can a single mandate
be used for more than one biller/payee?
Yes, you can use the same mandate to make all your payments at
BillDesk. You can simply add from our list of billers/payees through
the "Add" function under My Billers/Payees.
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What is the maximum
amount I can pay using ECS (Debit Clearing)?
As per the current Clearing house's guidelines, you can pay upto
Rs 1,00,000 (rupees one lakh only) for a single payment.
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FAQ
