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FORM NO. E5Appendix VIII LAN No. (Only for official use) ELECTRONIC CLEARING SERVICE (DEBIT CLEARING) MANDATE FORM Please fill the information in Capital letters The ManagerCopy to the User Company(Bank

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How to fill out electronic clearing service debit

01

Obtain the electronic clearing service debit form from your bank.

02

Fill in your account details such as account number and branch code.

03

Provide details of the party you wish to authorize for debit transactions.

04

Specify the amount and frequency of the debits.

05

Sign the form and submit it to your bank for processing.

Who needs electronic clearing service debit?

01

Individuals or businesses who want to automate their regular payment transactions such as loan EMIs, utility bill payments, insurance premiums, etc., can benefit from electronic clearing service debit.

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What is electronic clearing service debit?

Electronic Clearing Service Debit is a payment system that allows for electronic transfer of funds between bank accounts.

Who is required to file electronic clearing service debit?

Any individual or entity that needs to transfer funds electronically through the banking system may be required to file an electronic clearing service debit.

How to fill out electronic clearing service debit?

To fill out electronic clearing service debit, you typically need to provide details such as the account numbers of the sender and receiver, the amount to be transferred, and any relevant authorization information.

What is the purpose of electronic clearing service debit?

The purpose of electronic clearing service debit is to facilitate hassle-free, quick, and secure transfer of funds between bank accounts.

What information must be reported on electronic clearing service debit?

Information such as the sender's account number, the receiver's account number, the amount to be debited, authorization details, and transaction reference number must be reported on electronic clearing service debit.

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