Electronic Cheque Clearing (ECC)

 

RFL –  Electronic Cheque Clearing Service

 

Reliance Finance Limited has associated with Nepal Clearing House Limited (NCHL) to provide NCHL-ECC service to the customers.  ECC is an image-based, cost-effective, MICR cheque processing & settlement solution where an original paper cheque is converted into  an image for electronic processing of the financial transactions between participating member Banks/FIs. The physical movement of the cheques are truncated or stopped at the presenting bank and the cheques’ images are electronically moved between the presenting and paying banks resulting in a faster and easier processing of the cheque transactions.

 

ECC will provide faster access to funds for both individuals and corporations, reduce payments overhead costs, minimize associated risks, and promote efficiency in terms of speed and security of payments.

 

Fees:

Description 
Charges
Rs.  100 – 5000 Rs. 5
Rs.  5001 – 200000 Rs. 10
Above Rs.  200000 Rs. 30