ECS Full Form: What Does ECS Stand For?
Do you want to know what is full form of ECS is? Then, here you will come to know what Does ECS stand for? Also all possible Full Form of ECS.
ECS Full Form
The term ECS has many full forms, but out of which most relevant full form is-
ECS Full Form is – Electronic Clearing System
ECS (Electronic Clearing System) is a computerised method of transmitting money from one bank account to another.
ECS is an electronic system that allows you to move money from one bank account to another. It also allows you to interact with your account’s electronic credit or debit card.
ECS facility from your bank account is available if desired. You can pay a consumer with this method. Also, if you wish to invest in mutual funds monthly via SIP and you pay your power, water, telephone, and other bills on a regular basis, you can offer your bank an ECS mandate for this. ECS can also be used to pay off a loan or a credit card.
Types of ECS Service?
ECS service can be as follows –
ECS Credit – In ECS credit, an institution credits your bank accounts, for example your dividends, salaries, etc. for your information. To credit multiple accounts, a single account is periodically debited. Can.
ECS Debit – In ECS debit, you pay EMI for your loan, mutual fund, policy premium etc.
ECS This is the facility of Digital Credit Auto Transfer / Auto Debit Funds Transfer (Service) from one bank account to another bank account. It also provides the facility of Electronic Debit / Credit Transaction to the customer from his bank account.
This scheme is mainly used for Repetitive and Periodic payments.
The payments under this scheme are from a single user source (eg bank, company, industry or government department) to a large number of Destination (target) account holders (eg consumers / investors / employees), who after a certain time interval Have to pay
History of ECS
The Department of Posts (DoP), popularly known as India Post, debuted the ECS facility in Mumbai City on August 9, 2003.
Later this scheme was introduced across the country by RBI to reduce the load on people and banks and to make Repetitive & Periodic payments simple and fast.
Presently the facility is functioning under Reserve Bank of India (RBI) at 15 different centers across the country where RBI manages its ECS Clearing Houses. At the same time, there are 21 centers of SBI and 29 centers of PNB and other banks which manage the facility of ECS on the lines of RBI.
Types of ECS:
By the way, ECS Service is of two types.
ECS Credit: Through ECS Credit, one keeps sending money to your bank account from time to time, such as payment of interest, Dividends, Salary, Pension etc. of your deposit. Under this, money is deposited from time to time in a single account so that money can be credited to multiple accounts later.
ECS Debit: In this type of ECS you pay EMI of your loans, Mutual funds, premiums for all types of insurance, electricity, water, mobile and internet bills.
How to apply for an ECS Scheme:
Any salaried person or employee who works in any government or private department and has a Salary Account can contact his bank branch and get registered for ECS.
If you wish to use your bank account for ECS, you must first notify your bank about the situation.
Then your bank will give ECS Mandate Form (Mandate) to start the ECS service. You can give ECS Credit / Debit mandate to your bank only through this.
You must specify the branch of your bank account, as well as other vital account information, while filling out this form. You may also set the maximum amount to be paid in this form.
Following the launch of the ECS service, anytime funds are transferred from or placed into your account, you will receive an SMS notification to your cell phone.
Advantages of ECS:
ECS Scheme has reduced many loads of payments related people and banks. One credit can be given to the Internet and Computer for bringing the ECS Scheme into existence, apart from this, some other benefits of ECS are as follows.
Due to this service various types of bills are paid on time.
This facility helps customers to fill their daily needs like electricity bill, mobile bill, water bill, internet bill etc.
Since this process is completely paperless, it is also beneficial for the environment.
This service can be started and stopped easily.
The money of many public welfare schemes provided by the government now goes directly to the public accounts.
The ECS System has greatly accelerated banking-related operations.
Thus, there is no charge of any kind on the transfer of money.
What Does ECS Stand For?
ECS stands for – Electronic Clearing System
What is Full Forms of ECS
Now, here is the complete Full-Form list of the term ECS.
|Sr. No.||Term||Category||ECS Full Form|
|1||ECS||Banking||Electronic Clearing System|
|2||ECS||Career||Early Career Scientists|
|3||ECS||Educational||Early Childhood Services|
|5||ECS||Education||Early Childhood Studies|
|6||ECS||Childhood||Early Childhood Systems|
|9||ECS||Automotive||Early Crash Sensor|
|10||ECS||Science Fiction||Earth Cargo Ship|
|11||ECS||China||East China Sea|
|12||ECS||Automotive||East Coast Supercharging|
|13||ECS||Uncategorized||EAthletics Championship Series|
|14||ECS||Technology||EC2 Container Service|
|15||ECS||Minnesota||Ecological Classification System|
|16||ECS||Companies or Organizations||Economic Consultancy House|
|17||ECS||Medical||Economy Class Syndrome|
|19||ECS||Educational||Eddy Covariance System|
|20||ECS||Educational||Edge Composite System|
|21||ECS||Computing||Edinburgh Computer Services|
|22||ECS||Information Technology||Edit Configuration System|
|23||ECS||Education||Education Commission of the States|
|24||ECS||Local States||Education Cost Sharing|
|25||ECS||Educational||Education, Civilization, and Science|
|26||ECS||Educational||Educational and Society Services|
|27||ECS||Information Technology||Educational Computer Strategist|
|28||ECS||Products||Educational Construction Set|
|29||ECS||Educational||Educational Cost Sharing|
|30||ECS||Certifications & Diplomas||Educator Certification System|
|31||ECS||Information Technology||E-Economics Service|
|34||ECS||Uncategorized||Elastic Cloud Storage|
|35||ECS||Uncategorized||Elastic Common Schema|
|36||ECS||Uncategorized||Elastic Container Service|
|37||ECS||Automotive||Electric Charging Station|
|38||ECS||Neurology||Electrical Cortical Stimulation|
|39||ECS||Automotive||Electrically Controlled Suspension|
|43||ECS||Educational||Electronic and Computer Science|
|44||ECS||Politics||Electronic Certification System|
|45||ECS||Automotive||Electronic Charging Station|
|46||ECS||Information Technology||Electronic Chart System|
|47||ECS||Geography||Electronic Charting Systems|
|48||ECS||Educational||Electronic Citation System|
|49||ECS||Educational||Electronic Claim Submission|
|50||ECS||Educational||Electronic Claims Submission|
|51||ECS||Accounting||Electronic Clearing Service|
|52||ECS||Banking||Electronic Clearing Services|
|53||ECS||Automotive||Electronic Clutch System|
|54||ECS||Information Technology||Electronic Communications Service|
|55||ECS||Automotive||Electronic Control Power Steering|
|56||ECS||Companies or Organizations||Electronic Control Services Company|
|57||ECS||Technology||Electronic Control System|
|58||ECS||Products||Electronic Controlled Suspension|
|59||ECS||Automotive||Electronic Crash Sensor|
|60||ECS||Educational||Electronic Credit Settlement|
|61||ECS||Information Technology||Electronic Cross-Connect System|
|62||ECS||Information Technology||Electronic Customer Support|
|63||ECS||Educational||Electronic Economics Server|
|64||ECS||Information Technology||Electronic Economics Services|
|65||ECS||Information Technology||Electronic Economics System|
|66||ECS||Automotive||Electronically Controlled Suspension|
|67||ECS||Educational||Electronics and Computer Science|
|68||ECS||Educational||Element Construction Set|
|69||ECS||Engineering||Elemental Capture Sonde|
|70||ECS||Geophysics||Elemental Capture Spectroscopy|
|71||ECS||Companies or Organizations||Elitegroup Computer Systems|
|72||ECS||Information Technology||Embedded Computer System|
|73||ECS||Information Technology||Embedded Control Systems|
|74||ECS||Uncategorized||Emerald City Supporters|
|75||ECS||Information Technology||Emergency Communication System|
|76||ECS||Politics||Emergency Communications Staff|
|77||ECS||Transportation||Emergency Communications System|
|78||ECS||Politics||Emergency Coordinating Staff|
|79||ECS||Automotive||Emission Control System|
|80||ECS||Schools||Emmaus Correspondence School|
|81||ECS||Uncategorized||Empire City Subway|
|82||ECS||Employment||Employment Contractor Services|
|83||ECS||Railway||Empty Coaching Stock|
|84||ECS||Cybersecurity||Encryption Control System|
|85||ECS||Neurology||Endogenous Cannabinoid System|
|86||ECS||Energy||Energy Communication and Services|
|87||ECS||Normal Business||Energy Consumption Saver|
|88||ECS||Chemistry||Energy Corrected Sudden|
|89||ECS||Army||Engagement Control Station|
|91||ECS||NASA - Space||Engine Control System|
|92||ECS||Automotive||Engine Coolant System|
|93||ECS||Automotive||Engine Crank Switch|
|94||ECS||Army||Engineer Combat System|
|95||ECS||Companies or Organizations||Engineered Compost Systems|
|96||ECS||Computing||Engineering and Computer Science|
|97||ECS||Educational||Engineering and Computer Simulations|
|98||ECS||Normal Business||Engineering Capture System|
|99||ECS||Companies or Organizations||Engineering Career Services|
|100||ECS||Automotive||Engineering Change Schedule|
|101||ECS||Companies or Organizations||Engineering Computer Services|
|102||ECS||Educational||Engineering Computer Simulations|
|103||ECS||Automotive||Engineering Control Systems|
|104||ECS||Cocker||English Cocker Spaniel|
|105||ECS||Media Center||English Communications Service|
|106||ECS||Uncategorized||Enhanced Chip Set|
|107||ECS||Information Technology||Enhanced Communications Server|
|108||ECS||Normal Business||Enhanced Customer Service|
|109||ECS||Information Technology||Enter Cloud Suite|
|110||ECS||Automotive||Enterprise Car Share|
What is ECS Full Form in Banking
Electronic Clearing Service
What Does ECS stand for in Medical Terms?
In Medical Terms ECS stand for – Electrocerebral Silence
What Does ECS stand for in Security?
In Security ECS stand for – Electronic Clearing Service
What Does ECS stand for Army?
In Army ECS stand for – Equipment Concentration Site
What Does ECS Stand For in Cars?
In Cars ECS stands for – Electronically Controlled Suspension
I hope you get what you want to know about ECS. If you want to know the full forms of other term, then please ask by comments or email. Your valuable comments are always welcome.