We all know the boom and transformation in Indian banking ever since the introduction of technology in this sector. What most people are yet unaware are echecks. I have lived in Australia for a while and they are a common entity there. I can tell you what is an echeck or echeque. I will also tell you why they are absolutely the best in my opinion.
What is an e check?Just like a regular check, an echeck is the electronic version of the check. It never bounces and you don’t have to go to the bank physically to deposit it. I hope now you know what are e checks.
What are the advantages of echecks?Now that you know what is an echeck, let me tell you why I think they are the best by straightening out some of their advantages right here.
If you make online payment using echeck, you will be paying lesser transaction charges than on credit cards
There are only a fewer transaction limits
Easy recurring payments without worrying about changing bank account numbers (coz of course they don’t change as often as a credit or debit card)
Secure and effective than regular checks
All right, there you have it. This is my take on what is an echeck and its advantages. I would like to know if you are considering making a switch yourself because the environment can benefit from each paper saved. Thank you for reading. Please do like it and if someone asks you about it, you know what answer to share with them :)
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What is an echeck?
Kishan
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3 Year
2022-04-18T12:36:55+00:00 2022-04-18T14:33:32+00:00Comment
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