NACH FOR CORPORATE
WE - AS A SPONSOR BANK:
Our role is to intermediate between entities & NPCI (Clearing & Settlement agency) concerning presentment of transactions towards collections and remittances.
We lodge NACH Transaction files for collection/ distribution of funds on behalf of corporates/institutional entities like you. In case of loan EMI, the Bank acts as User Institution as well as Sponsor Bank.
- Eliminates paper-based instruments like cheques/DDs.
- Timely collections & payments thereby improving liquidity.
- MIS along with your reference code leading to quick reconciliation.
- Hassle free collections result in improving your customer experience.
- Seamless movement of mandate & transaction files for quicker mandate set up and transaction processing.
- Robust technology to support large volumes of transaction processing.
- Direct Corporate Access facility to large corporates for direct presentment.
- Host to host integration for direct updating or operation of your system to complete real time reconciliation.
- SMS intimation to your customers
- Handholding of corporates to ensure smooth set up of the services within minimal TAT.
- Segments for NACH Debit and Credit
The following are list of indicative business segments that can speed up their collections and remittances efficiency by availing NACH based collections. NACH Debit NACH Credit Loan Instalment Payment Salary Payment SIP Payment Channel Partner Payment Insurance premium Payment Vendor Payment
- Credit card Bill Payment
- Utility Bill Payment (Electricity / telecom / water etc)
For Corporate wishing to avail NACH services, a simple user code request form, initiates the process of NACH set up. (To provide copy of user code, request form online) The completed form is to be submitted to the nearest Equitas Bank for onward submission to NPCI.
Utility code: Utility Code or Corporate User ID is a user identification Number that would be allotted by NPCI within two (2) working days.
Corporates can obtain multiple user numbers if availing NACH services from multiple banks.