The ECS RTN charges meaning is simple. Electronic Clearing Service ( ECS ) charges refer to the fees associated with using ECS facilities for processing various types of electronic transactions. ECS is a mechanism provided by banks that allows for bulk processing of transactions such as direct debits (wherein a fixed amount is debited from an account) and direct credits (wherein a fixed amount is credited to an account). Now the bank charges a fee for any return or bounce transaction and that ... Learn what ECS return charges are, why they occur, how much they cost, and how to avoid them. ECS is an electronic mode of fund transfer for recurring transactions, but it may fail and incur penalties if the account has insufficient funds or incorrect details. Charges for non mainte- nance thereof Rs.500/- whenever the acc- ount balance goes below the minimum level Whenever there is a return under ECS due to want of funds, the ECS registration will automatically get cancelled and for further registration, the account holder will have to pay the registration charge of Rs.1,000/-. Note : To obtain an aligned printout please download the (72.00 kb ) version to your machine and then use respective software to print the story.
