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How to stop donation debits from bank account through ECS

Date: 17 May 2016   Posted By: Indram Nandrajog     Group: Finance and Investments    Category: Banking   

My account is with a nationalized Bank. From it is being debited every month with a fixed small amount being donation for quite some time. Now I want to stop this. Kindly advise how to proceed.

Want to know how to stop an amount from being debited from your bankd account via ECS? Our experts will guide you with the procedure to do so.

Author: Venkiteswaran.    17 May 2016      Member Level: Diamond     Points : 2  (Rs 2)    Voting Score: 0

How do you say it is donation? Donation is something you give willingly. Here money is taken from you. It is recovery.

You immediately ask the bank about the details.

What I presume is that you may not have the prescribed minimum balance in your account. What they recover may be the charges for that. Just my guess. You have to go to the bank and get details.

Author: Mahesh    17 May 2016      Member Level: Gold     Points : 2  (Rs 2)    Voting Score: 0

If you have used the ECS form for the automated monthly donation. Then you have to use the ECS cancellation form available from the bank. This form has the details and other fields that you have to specify for stopping the ECS. Make sure you stop the ECS 15 days prior to next payment.

In order to stop the ECS you have to visit the home branch or any other branch closer to you. And ask the bank to stop the ECS. The bank employee will hand over the ECS cancellation form. And you have to give the details for the same. After the form acceptance it will get closed within 24 hours to 2 business days. Make sure you get confirmation for the ECS closure. This way you don't have to worry whether the payment cycle isn't started automatically.

Author: Kailash Kumar    17 May 2016      Member Level: Platinum     Points : 2  (Rs 2)    Voting Score: 0

The first and obvious step is to visit the bank branch to know about the details. Only after perusal of the data filled in the system, any meaningful opinion can be offered and that data can be viewed only by the designated bank official. The perusal of data/information in the system will put an end to the guess work like whether it is being deducted toward any donation fund or not and in case it is a donation fund then which fund actually it is. The bank official will be able to take action also after obtaining necessary application form and signature etc. However it is always advisable to visit the bank branch together with ID proof, address proof and PAN card.

Author: Pawan Kumar    18 May 2016      Member Level: Silver     Points : 1  (Rs 1)    Voting Score: 0

ECS stand for Electronic Clearing System. is an electronic mode of funds transfer from one bank account to another. It can be used to pay bills and other charges such as telephone, electricity, water or for making equated monthly installments payments on loans as well as SIP investments. There are two types of ECS i.e ECS (credit) and ECS (debit). To stop an ECS, ensure that you inform your bank in advance, so that they get enough time to take the necessary steps.

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