ECS (Electronic Clearing System)

byPaytm Editorial TeamLast Updated: October 21, 2025

Definition

ECS stands for Electronic Clearing System. 

ECS, or Electronic Clearing System, is a digital method to transfer funds from one bank account to another automatically.

Usage

It is commonly used for recurring payments like utility bills, loan EMIs, or dividends.

Author

Paytm Editorial Team

The Paytm Editorial Team is a collaborative group of writers, editors, and industry experts. We're dedicated to bringing you the latest insights, news, and guides on digital payments, financial services, and the technology that's shaping India's economy. We offer easy-to-follow guides and insights to help you explore Paytm’s products, features, and services. Our goal is to provide clear, reliable, and helpful information to empower you on your financial journey.

You May Also Like

UPI for NRILast Updated: July 16, 2025

Definition UPI for NRI allows Non-Resident Indians (NRIs) to use UPI services using international mobile numbers linked to…

KCC (Kisan Credit Card)Last Updated: December 12, 2025

Meaning KCC full form is Kisan Credit Card. The Kisan Credit Card (KCC) is a special loan facility…

IFSC CodeLast Updated: October 21, 2025

Definition IFSC stands for Indian Financial System Code. IFSC Code is a unique alphanumeric code used to identify…

One-Time MandateLast Updated: September 16, 2025

Definition A one-time mandate is a pre-approved instruction that allows automatic debit of a specified amount only once…

UPI Merchant DisputeLast Updated: October 21, 2025

Definition UPI Merchant Dispute occurs when a merchant challenges a payment reversal or refund claim. Handling Banks and…