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Many organisations get a corporate account for their business use. It helps them keep a track of finances and ensure all transactions are conducted by the same account. A friend of mine has an eCMS account. I will share with you the eCMS full form in the paragraphs given below.
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What is eCMS virtual account?It is an online payment service that is offered to large corporates that have a fixed set of customers. Dealers, investors and policyholders are common customers. The account is specially tailored for institutions/ corporations.
How does it work?To use the account, organisations will need to register with the bank. Financial institutions or banks assigned a unique prefix to each corporate account. Each eCMS account holder will get a virtual account number for their use. that is Corporate prefix + Dealer Code, or Corporate prefix + Policy Number. Keep reading what is eCMS account.
Funds can be transferred when a virtual account is added as a beneficiary. Since I use HDFC, I will share with you the steps to add eCMS as a virtual account beneficiary.
Open the HDFC NetBanking website or application
Enter your Customer/User ID and click Continue
Enter password IPIN, Verify Secure Access ID, and Click Login
Select the Fund Transfer button.
Click ‘Request’ from Sidebar,
Then, Choose to Add a Beneficiary from drop-down
Click Go on Transfer to eCMS Account(Virtual Account)
Fill in details like Add Beneficiary Account Number, Add Beneficiary Name, Emails ID
Lastly, click on ‘Add’.
If you have any more questions about the eCMS full form, leave them in the comment section below.
Read more :
What is corporate subscriber in NPS?
What Is Corporate ID In PNB?
What is corporate tax in India?
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What is eCMS account ?
Siddhi
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2 Year
2022-10-20T19:37:21+00:00 2022-10-31T09:12:45+00:00Comment
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