About the NACH Service
NACH (National automated clearing House) is an electronic payment solution, which facilitates high volume repetitive and periodic transactions. This facilitates both debit i.e. collections and credit i.e. remittance transactions that are easy, simple and quicker to manage.
Usage of NACH
NACH enables collections of repetitive receivables like Utility bills (electricity/telephone/Mobile bills, credit cards, etc), Mutual Fund (SIP), Insurance Premium, Loan Instalments, credit card payments, payments of donations and other bill payments as well.