What is Electronic Cheque Clearing?

ECC is an image-based electronic cheque clearing and settlement system. The original paper cheques are scanned to create images and presented electronically through the secured communication channels from the member where they are deposited to another member on whom they are drawn. This results in faster access to funds and lower transportation expenses. Nepal Rastra Bank has given responsibility to Nepal Clearing House Limited (NCHL) for transaction and settlement of clearing.