Post Office ECS Process | How to Process ECS (Electronic Clearing Service) Credit Facility in Post Office for transfering amount to Bank Account? - Postalstudy | Post Office Blog | Materials for | Exams

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Post Office ECS Process | How to Process ECS (Electronic Clearing Service) Credit Facility in Post Office for transfering amount to Bank Account?

Post Office ECS Process/Procedure for Credit of SB/PPF/NSS/SSA Maturity/Pre-mature/closure value into account holders Bank Account:

Download Post Office ECS Process in DOP CBS Finacle in PDF

(A) Closure of Post Office account

(i) Account holder will submit account closure form along with passbook and a cancelled cheque or copy of first page of Bank passbook at concerned post office

(ii) Counter PA shall tally the Account Holder's name with cancel cheque or copy of first page of passbook and account closure form.

(iii) Counter PA shall proceed for closure of account through HCAAC menu.

(iv) HCAAC - Select transaction type as 'Transfer' and enter Transfer account id as SOLID+ECSOW (for example 1100100ECSOW)

(v) Supervisor shall verify closure of account through in HCAAC menu.

(B) Creation of ECS payout mandate: - After successful closure of account counter PA shall proceed for creation of ECS payout mandate as follows: 

(i) Counter PA shall run Finacle menu - HOTCE Selection Function -'Add' and click on 'GO'

Note: - Payment System lD and Transaction type are defaulted to ECS & Transfer. Same values are to be used. Error message will be displayed if any other values are entered.

(ii) HOTCE - Details Screen

Default values

o Customer A/c ld - Defaulted value po ulated of the office account in which closu re oroceeds set credited This value should not be chaneed

o ECS mandate can be created only if sufficient funds are available in the office accounu error will be thrown if funds are not available.

o Transaction code, Suspense a/c ld, Currency code are filled with default values and no changes / entries are required in these fields

(iii) Following Values to be entered by user (5 fields) in HOTCE menu.

(a) Remit Amt. = Enter the exact amount of closed SB/PPF/NSS/SSA account.

(b) Transaction Remarks = In transaction remark SOL ID- Scheme- account number should be entered for example 56000100-PPF-010002765012. As this will be used for audit purposes, SOL user should ensure accuracy.

(c) Destination Customer Details

> Enter Account ID: - Enter Account Holder's Bank Account number.

> Account Name: Enter Account Holder's Name.

> MICR Code: - Enter 9-digit MICR code (Avallable on cancel cheque/copy of passbook of account holder) Bank/branch/city details will be automatlcally populated based on MICR

> click on Submit

Note down the ECS Transaction Reference number is displayed on successful creation of ECS mandate

(iv) Supervisor shall verify the ECS Transaction reference number in HOTCE menu,

(v) Supervisor shall cross check the correctness of the five values entered during mandate creation. lf any changes are required, CPA user can modify the mandate using the reference number in HOTCE-Modify fu nction.

(vi) Supervisor will run HPR menu and print the ECS Advice report containing ECS mandate details and handover to account holder as acknowledgement.

Note: - On verification of HOToE o tronsdction between SOLID+ECSOW ond 600007000098 will be created in posted stdtus. This tronsaction has to be verified by dnother user in HTM menu.

(vii) A copy ofthe ECS Advice report should be printed and attached to the closure vouchers for reference.

Note: - No modifications are possible, on the mandate once verification is done. lf any wrong value is entered, action can be initiated only after the mandate is sent to NACH and processed/rejected. This is similar to the existing process of ECS pay-outs.

(viii) Chennai GPO will generate ECS credit file on next day for all such transactions and upload outward credit files to NPCI.

(ix) The interest and maturity value will be credited in the account holder's Bank Account on D+L basis i.e. Next working day.

(c) Reports: - The transaction carried out through ECS outward can be view through following option: -

(i) Office account transactions report for account id SOLID+ECSOW

(ii) HFTI/HFTR using transaction type as T/EO

(iii) ECS Remittance Report at ECS Nodal SOL will include HOTCE transactions also.

(D) Handling of ECS Returns

(i) ECS Outward credit miSht 8et returned due to incorrect other bank account number or  account already closed.

(ii) Nodal office (Chennai GPO) will credit the ECS return amount to Outward credit ECS

Suspense account (SOL lD+0098) of concerned CBS Post Office. Account Number will be updated in the reference number field on next day immediately after receipt of ECS returns.

(iii) customer will visit concerned Po in case the amount is not credited in his/her bank account. Concerned POs will regularly check credits in ECS suspense account (SOLID+0098).

(iv) If any ECS is returned and credits if available in ECS suspense account (SOL ID+0098) concerned Post Office will intimate the depositor reason for non-credit of ECS through mobile number available with post office requestinE customer to attend Post Office for collecting maturity value as cash if maturity value is below Rs.20000/-.

(v) lf the maturity credits are above Rs.20000/-, amount to be credited into Postmaster Cheque office account (SOL lD+0340) from ECS Suspense account (SOL lD+0098) and to be paid as Postmaster's cheque. ln case ofSub Office, they will collect the cheque from their respective HO.

(vi) PO will use CTM menu for debiting ECS Outward credit of their SOL and pay in Cash if the amount is below Rs.20000/. lf the amount is above Rs.20000/-, PO will use CXFER to crediting from ECS Suspense to their 0340 account for paying through cheque.

(vii) Post office should pay Cash or Cheque ONLY if ECS return amount is available as credit in ECS Outward credlt Suspense account (SOL+0098).

(E) Role of Circle CPCs

(i) Chennai GPO will send mail to all CPCs on the failed ECS records daily

(ii) Concerned CPC will guide the respective SOL to contact customer for payment through cash (if below Rs.20000/- or through cheque)

(iii) CPC will guide the POs that ECS Suspense account is to debited only if valid credits are available.

(iv) Circle CPC will guide the PO to modify the ECS Mandate by getting revised ECS Mandate from customer in case of ECS failure for interest credits to avoid failure in subsequent months.

(v) CEPT Team will share list of offices where 0098 is Non-Zero on weekly basis to all CPCs/uploaded in MIS Portal. Then CPCs should forward the list to Division/Post Offices concerned.

(F) Role of SBCO

(i) On receipt of voucher by SBCO, SBCO will generate Office account transactions report for account id SOLID+ECSOW and cross-check the closed account number shown in transaction particulars & transaction amount against the Long Book Detailed Report in which the actual account closure transaction is listed.

(ii) SBCO will tally account number, MICR code available in ECS advice report with cancelled cheque leaf/copy of first page of passbook attached with account closu re/prematu re closure form

(iii) SBCO will also check the Non-Zero ECS outward credits office account (SOt ID+0098) and SOLID+ECSOW.

(G) Role of lnspectins Authorities.

(i) During course of inspection of the CBS office, ECS Outward credit suspense account (SOLID+0098) and (SOIID+ECSOW) may be checked through HACLINQ and see that no credit is pending in these office accounts.

(ii) In case of any discrepancy noticed, issue necessary instruction to clear pendency and record reason with result.

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