Difference between NACH and ECS


Is NACH different from ECS for cheque clearance?



Tracking real-time payments isn’t possible with the ECS cheque clearance system unlike NACH, which will have a standard operating model for all payment transfers. All transfers done through NACH will generate a unique registration number, thereby making it easy to trace payments at all times. NACH ensures that settlements and presentations will happen on the same day along with quick transaction processing.

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