Learn what ECS /NACH return charges are, how they impact your finances, and smart ways to avoid them. Discover how seamless banking through apps like GoPocket can prevent these penalties. ECS return charges are penalties imposed by banks when electronic transactions fail due to insufficient funds or other reasons. Learn how to avoid these charges and how they affect your SIPs and other ECS transactions. Charges for non mainte- nance thereof Rs.500/- whenever the acc- ount balance goes below the minimum level Whenever there is a return under ECS due to want of funds, the ECS registration will automatically get cancelled and for further registration, the account holder will have to pay the registration charge of Rs.1,000/-. The present article will explain what ECS return charges are, how ECS return charges work, and when they are applied. Some preventive measures will also be shared to help you avoid some of these unnecessary penalties. Apart from that, we shall also delve into the differences among ECS and other payment systems, such as NACH and UPI.
